A new set of NII and NIIFI incentives are going live on NiiFi on December 1.
Big news for NiiFi, NII and NIIFI token holders. In an expansion to our existing NII-based incentives for liquidity providers, today we’re announcing a new set of NII and NIIFI incentives — this time exclusively for the NiiFi platform.
Following the recent launch of NiiFi, Nahmii users have been providing liquidity into the network’s automated market maker (AMM). Starting from the first Ethereum block on 1st December 2021 (UTC time), they will be earning rewards in the process!
TL;DR — what’s happening
- 2 new incentives are launching: NII incentives and NIIFI incentives.
- NII Incentives: half of the current monthly liquidity mining rewards, 50m tokens or ~$750k, are being migrated from Uniswap v3 pools to select NiiFi pools
- NIIFI Incentives: NIIFI rewards are going live for liquidity providers to the NiiFi pools described below. The rewards allocated are 5% of the token supply, with 10% of that fund distributed to LPs each month
- Rewards will start accruing from the first Ethereum block on December 1, 2021 (UTC time)
- To get started, 1) bridge your assets to Nahmii, 2) LP on NiiFi.
NiiFi LP incentives: a closer look
Two incentive structures are going live: NII and NIIFI rewards for pool LPs on NiiFi.
NII Incentives for LPs
Incentives for LPs are currently live on Uniswap v3 on the Ethereum mainnet, and 100 million NII tokens are currently distributed to Uniswap v3 LPs each month. The pools currently yielding rewards on Uniswap v3 are:
- NII/ETH (0.3% fee pool)
- NII/WBTC (0.3% fee pool)
- NII/USDC (1% fee pool)
- NII/DAI (1% fee pool).
These same four pools are being made available on NiiFi, albeit all with 0.3% pool fees. Half of the current NII incentives are migrating from Uniswap v3 to incentivize liquidity on NiiFi. This means that 50 million NII will be made available to the LPs of the same four pools on NiiFi, with 50 million NII remaining as an incentive for Uniswap v3.
NIIFI Incentives for LPs
In order to accelerate NiiFi’s liquidity provision and growth, Nahmii will also be allocating 5% of the NIIFI token supply to liquidity rewards for NiiFi pools. Each month, 10% of the allocated NIIFI incentives will be distributed to LPs, starting at ~4.44 million NIIFI in month 1 (4.00 million in month 2 etc.).
The pools being incentivised initially are the following:
- ETH/USDC
- ETH/WBTC
- NIIFI/ETH
- NIIFI/WBTC
- NIIFI/USDC
- NIIFI/DAI
- NII/NIIFI
- NII/ETH
- NII/WBTC
- NII/USDC
- NII/DAI
Getting started with Nahmii and NiiFi
NiiFi is the first DeFi application to launch on Nahmii 2.0, and will serve as Nahmii’s vanguard commercial toolkit, offering a variety of user-friendly DeFi solutions that enable true mass adoption.
The initial launch of NiiFi featured an automated market maker (AMM) that allows for easy exchanges between any currencies. And with liquidity incentives now live on NiiFi, there is an increasing number of ways for users to benefit from using Nahmii — not only by earning rewards through liquidity provision but also by taking full advantage of the network’s lightning-quick speeds and instantaneous transaction finality.
Please note that these incentive programmes will initially be a trusted process (Nahmii AS has already performed such rewards fairly for 3 years). In Q1 2022, the process will be made as trustless as possible, using smart contracts.
Please also do note that we reserve the right to modify or remove the incentive programme with sufficient warning to the community. We also reserve the right to adjust rewards in case of abuse whilst the programme is being tested and monitored.
Learn more at niifi.com and get started by bridging your assets to the Nahmii network.
