Geyser: Staking Rewards For Uniswap Liquidity Providers
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11th of April 2021 Update:
We just added 100,000 Trips, doubling the geyser rewards.
Great News.
From yesterday, we have a Geyser.
You can see it here:
https://app.gysr.io/geyser/0xA71CD122fDCC1AeA97449eaec1ab9dD87338fa09
If you provide liquidity in Uniswap you can now get automated staking rewards.
The basic concepts:
1) You must first add liquidity to the Trips-ETH pair in Uniswap.
Uniswap will generate some UNI-V2 Liquidity tokens, and you will be able to add them to your wallet (address: 0x098ea160e3866cbffa5298a4b08de167b7130442).
2) You go to the Trips Geyser at https://app.gysr.io/geyser/0xA71CD122fDCC1AeA97449eaec1ab9dD87338fa09
3) You approve the UNIV-2 tokens (about $1–2 with 50 Gwei gas)
4) You stake them in the smart contract (about $8 with 50 Gwei gas)
5) You immediately start seeing your Trips rewards grow.
That’s it!
Here’s the magic: once deployed, this smart contract is a living thing no one as really control of.
All you can do is stake and unstake.
What we can do, is only add more Trips as a reward.
The Geyser team can’t do anything at all.
Weird? Welcome to Web3.
THERE’S MORE
Rewards
we have placed 100,000 Trips which will be released in one year.
Your rewards grow with time: as we reach the end of the year they multiply to 2x and then 3x.
The longer you stake in the geyser, the more Trips you earn.
On the other hand the more tokens are staked, the less you get.
It’s a competition for the fixed 100,000 Trips reward.
So, the sooner you get in, the more you get, as there’s a few people right now.
Multiply your Trips with GYSR (optional)
If you buy GYSR just before you unstake, you can multiply the Trips you earn.
So if for example you want to unstake after a month, and you are entitled to e.g. 100 Trips, you can pay with GYSR and get 200, 300 or more Trips.
The GYSR token go to the Trips Community, and we can use them as funding for the project.
This step is OPTIONAL. You don’t need GYSR to use the Geyser.
Tutorials
Here’s a video on how to stake and unstake.
Here you can learn about providing liquidity and don’t forget to check them out at GYSR.IO.
RISKS
All smart contracts bear some risk: there could be vulnerabilities and money could be lost.
On the one hand we have Uniswap, which has never been attacked and on the other the various other DeFi projects which are regularly exploited.
Having said that, it depends a lot on the type of smart contract and Geyser does not belong to that kind of contracts.
But we are in crypto, the risk is always there.
The code has been successfully audited, and more than $100 M have been handled so far by their smart contracts.
STAKE SOME TOKENS NOW
Head to https://app.gysr.io/geyser/0xA71CD122fDCC1AeA97449eaec1ab9dD87338fa09 and start earning!
