MerchDAO LP staking app is going live on April 7!
Dear MerchDAO tribe, we have a short but very exciting announcement to make! Our LP staking app will be released on the mainnet on April 7. The starting APY is 80%, but the best part is that you can win an NFT every week!
Just yesterday we told you about MerchDAO’s unique NFT giveaway on UniCrypt, but today we have even better news to share. After a period of intense beta testing and debugging on the testnet, we are ready to release the $MRCH LP staking app on the mainnet — basically a new yield farming program. Here’s what you need to know:
1) The initial APY is 200%. We believe this is a sustainable figure that hits the sweet spot: delivers good profits to stakers but doesn’t endanger the token’s long-term future.
2) To earn liquidity mining rewards, you’ll first need to deposit liquidity in the ETH-MRCH pool on Uniswap to get LP tokens.
3) These LP tokens can be easily staked in the new $MRCH LP staking dApp — the one that’s going live on April 7.
4) There will be two pools available in the dApp, with all rewards paid in $MRCH One has a duration of 2 months, but you can always unstake your Lps. The APY for this pool is 140%. The second pool pays 200% APY and has a 4-month time lock. This means that once you join it, you cannot withdraw the LP tokens for 4 months.
And no to the most exciting part: free NFTs! We were so impressed by the enthusiastic response to our first #merchdrop of 3 physical paintings accompanied by NFTs that we decided to make giveaways a tradition. Once a week, we will award one NFT per pool (so two in all).
For now, these NFTs will be purely digital, not physical. By the way, if you are interested in rare and unique physical merchandise with NFTs, check out our staking contest on UniCrypt: you can win one of the 100 pairs of our uber-cool MerchDAO socks!
If you already have liquidity in the ETH-MRCH pool on Uniswap, then stake your LPs ASAP and start earning the rewards. And if you aren’t a $MRCH liquidity provider yet, it’s a good time to start. Have questions? Ask away in the official MerchDAO Telegram channel — we’re always happy to help!