Jun 28, 2021
V0 Liquidity Mining Is Officially Kicking Off! (NEW UPDATES)
Heyhey’s Grand Launch
V0 Liquidity Mining Is Officially Kicking Off!
Stay tuned to our official channels for the actual dApp link to be released on July 6, 2021 (Updated).
Please be informed of the following pools where you can add liquidity and earn RNBW rewards. This liquidity mining phase will last until we release our full v1 AMM and Lending Market protocol, after which we will migrate liquidity rewards from these Uniswap and Balancer pools to our own AMM’s pools. Take note that these RNBW liquidity rewards are not necessarily fixed. If the team and community decides that one pool needs more focus, then the team will increase the rewards proportion for that pool accordingly.
Whitelisted Pools (NEW UPDATE*)
How can you participate?
- Farming RNBW using stablecoins (NEW UPDATE*)
The first pair we will be supporting is xSGD and USDC on Balancer (until we move to our own AMM in v1). We are allocating 115,000 RNBW per month to liquidity providers who add their xSGD and USDC to the Balancer pool we will announce closer to July 5. For a more visual walkthrough of liquidity provision to Balancer pools, please refer to this link here:
https://docs.halodao.com/get-started/how-to-earn/how-to-supply-liquidity.
One thing to note is that when you stake your BPT or UNI V2 LP tokens on the farming contract, you are actually earning the vesting token xRNBW directly. This auto stakes you (saves our users some gas too!) in our Vesting contract, but don’t worry there is no lockup and you can redeem your underlying RNBW at any time. However, remember not to redeem too early, since 20% of all liquidity rewards are paid to our Rainbow Pool every month. Learn more here:
https://docs.halodao.com/products/rainbow-pool/how-vesting-works
2. Farming RNBW using RNBW and ETH
Naturally, we will be providing liquidity rewards to our own governance token’s pairing with ETH on Uniswap as well. 100,000 RNBW per month will be provided for the length of the v0 liquidity mining phase.
Again, farmers will earn the xRNBW vesting token directly and will automatically earn more RNBW at no risk without a vesting lockup of any kind.
3. Farming RNBW using xRNBW and ETH (NEW UPDATE*)
Once you earn xRNBW, good news is you can still use it to earn even more RNBW. By depositing it into the xRNBW:ETH Uniswap pool, then staking those LP tokens in the Farm page, you may earn from 1) swap fees between xRNBW:ETH, 2) make your xRNBW and ETH earn more xRNBW by staking in the farm page and 3) keep earning more RNBW for all your underlying xRNBW liquidity in the Uniswap pool.
4. Farming RNBW without doing anything
However, if you are a liquidity provider and don’t want to do anything with the earned xRNBW vesting tokens, then the good news is that you will still earn 20% of monthly RNBW liquidity rewards deposited to the Rainbow Pool. Any and all Rainbow Pool rewards are claimable by your xRNBW vesting tokens on the Vesting page. Learn more here https://docs.halodao.com/products/rainbow-pool/how-vesting-works.
Roadmap
This liquidity mining kickoff is of course just the start of our journey in bridging traditional and decentralised finance. Our upcoming stablecoin optimised AMM and stablecoin focused Lending Market launch is the next step in our journey. However, do expect some product milestone announcements between July 5 and August as there are some interesting announcements that we have in store as well as rewards for those who participate in testnet and mainnet user testing before the August release.
The Rainbow Token Has Commenced Trading
You may now trade RNBW:ETH on Uniswap V2 https://v2.info.uniswap.org/pair/0x3e8e036ddfd310b0838d3cc881a9fa827778845d
Investor Unlock has been completed
https://etherscan.io/tx/0x2975b081cb52dd8ce5a139b1548e7c0d41874ec5edd968c176491ed4703800f8.
Based on our current tokenomics, we have unlocked 10% of investor tokens at 28 June, 2021, 12pm UTC. This brings total circulating supply excluding tokens from our listing budget to approximately 3.24%.
About HaloDAO
HaloDAO is driving liquidity to regional, asset backed stablecoins by building a stablecoin optimized AMM and stablecoin focused Lending Market and linkages with existing wallets and exchanges around the world. With a greater supply of region specific stablecoins, users will be able to access the permissionless Decentralised Finance (DeFi) economy, thereby lowering the barrier to individual financial participation in a region of the world with a high potential of growth and impact.
Website: http://halodao.com/
Twitter: https://twitter.com/HaloDAOFinance
Telegram: https://t.me/HaloDAO
Discord: https://discord.gg/frY97mxD5j
Medium: https://medium.com/halodao
