$BAL Liquidity Mining on $THX Balancer 80/20 pool ⚖️⛏️🤑
Three weeks ago $THX launched in a Token Launch Auction using Copper. Since then the Community Treasury established pools on both Balancer, QuickSwap and Uniswap (Ethereum) where $THX is tradable.
Last week starting on Monday at 00:00 UTC marked a big step towards making the THX token more accessible by increasing its liquidity. Balancer DAO and Alchemist granted $BAL liquidity mining rewards to the biggest source of $THX liquidity; the 80/20 pool on Balancer’s deployment on Polygon.
Working with the Alchemist / Copper team and Balancer community aka the ‘Ballers’ for the last couple of weeks has been awesome. Many thanks go the the people involved from both projects in supporting early stage protocols like ours, in such an forthcoming and friendly way 💛
Liquidity Mining details ⚒️
The liquidity mining program last for a minimum of 12 weeks and allocates 800 $BAL in total, worth around $13,200 at the time of writing.
Important to note is that the funds raised in the Token Launch Auction and that seeded the pool are excluded from mining (address (0x59429282A4e566373a1F2D5F20CF08184b46ee07). So it’s all up to you to claim the mining rewards by supplying liquidity!
A quick calculation shows that the annual returns on the pool will be significant. For example at $200k supplied liquidity we’re looking at ~35% APR.
Unfortunately the interface at Polygon.Balancer.fi isn’t able to show the correct APR by excluding the Token Launch Auction address at this moment😢 So while the interface shows around 5,5% APR the actual returns are much higher. At the moment of writing returns are closer to 600%(!). [UPDATE 04/01 — $85.000 joined the pool. APR now currently around 65%]
The Balancer team will be working on this bug as soon as the Holiday Season comes to a close. For now, happy mining!
Providing liquidity to the pool 💧
Follow these easy steps; 1) head over to the ‘invest’ screen of the 80/20 Balancer pool on Polygon.
2) Choose the amount of $THX you want to add to the pool.
3) (optional) We recommend to add 20% in $USDC, in order to not sell any of your $THX and not incur any slippage. Do this by clicking ‘proportional suggestion’ in the interface.
4) Hit ‘Preview’ and then ‘Approve THX for investing’, same for USDC
5) After the transactions completes click ‘Invest’ and you’re done!
About THX Network 🤜🤛
When receiving something nice, the logical reply is “thanks”! THX Network allows you to create and embed tokens in any app or website, without breaking your brain or bank.
The United Nations Development Programme (UNDP) uses THX Network to reward engagement on their employee and policymaker platform called SparkBlue. Over 70.000 transactions and counting have been performed on behalf of UNDP users using THX Network’s infrastructure.
Explore more about the protocol;
- The inner workings of THX Network 🛠️ 👩💻👨💻 — Tokenomics (I)
- $THX distribution and governance 📊 👩💻👨💻 — Tokenomics (II)
And if you’re interested in what THX Network can do for you or your organization, schedule a demo with our cofounder Mieszko.
Let’s meet in our communities
Discord 👾
Twitter 🐦
Telegram ✈️
Let’s meet in our communities
Discord 👾
X 🦤
Telegram ✈️
YouTube 📺
Get the $THX token
Balancer (Polygon) ⚖️
1Inch (Polygon) 🐉
Other resources
Developer and campaign manager docs 📋
Code on Github 🛠️
Audit report 🕵️