Dear Goblins, Merfolk and Planeswalkers — we are excited to announce that the revamped SIREN Liquidity Provider Program (LPP) begins TODAY. After extensive input from all of you in the SIREN community on pretty much everything, including amount, duration, and methodology, the new LPP is truly a group effort between us merfolk and you land dwellers.
The previous LPP that this program replaces required participants to register. This method was the strongest way we could think of to make sure that no individual participant received more than a certain share of the pool or the rewards — by collecting addresses we could whitelist them to a certain cap, making sure that everyone participated equally.
You, the community, however, responded that strict fairness was less important than openness, even if that meant the additional competition might make it more difficult for everyone to participate, especially in the early weeks of this new endeavour between our species.
We hereby decree on this day that the LPP shall be open to ALL! Yet beware, land dwellers. Beware the rip tides of our oceans and what lurks beneath the surfaces of our liquidity pools. For there may be WHALES who do not wish to share their space with you. We empathize with you humans, though; even us merfolk must learn how to swim at our youngest age. Therefore, we will increase the TVL cap in increments, randomly, and notify the members of our Telegram group at short notice. So be ready to swim when you hear the SIREN call.
Be advised that the SIREN Markets are still in their alpha phase of testing, and have not fully launched. Your reward for being an intrepid explorer in these uncharted waters is a potential for rewards, but there are creatures lurking in the depths. Only the bravest of you should continue. Be sure you understand what it means to be a liquidity provider, as well as some of the risks.
As our second act of generosity and peace offering to your kind, we have employed the first human to work alongside us creatures of the deep. Behold, MISHKA KUTOZAWA, a technical writer who has prepared the updated terms of the LPP for you biped-challenged organisms to review:
The new LPP will run for 12 weeks. There will be two pools, WBTC and USDC, among which the rewards will be distributed 50/50. Deposits will be tracked in 24-hour increments — liquidity deposited for less than 24 hours will not be counted. For each day, participants will accrue that day’s rewards divided proportionately by the amount of liquidity deposited by each participant.
Rewards for each participant will be calculated for the duration of the 12-week LPP. At the end of the LPP the SI token will launch, and participants will be able to claim their rewards.
We love Mishka Kutozawa, don’t you? Above was an excerpt from one of the spoken tongues she has informed us about — a tribal dialect only known to a subset of humans known as DEGENS.
And with that, we conclude our communication from the depths. On this day, let it be known to all:
DEGENS, HUMANS, B-CASH APOSTLES — ALL — WE MERFOLK INVITE YOU TO SWIM IN OUR OCEANS.
WE WELCOME YOU!
In quarta die December, vicesimo anno secundo millennio ineunte.