Universe.xyz
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Universe.xyz

Yield Farming, Airdrops & Sushi LP Incentivization Programs in Universe

Link to Yield Farming

Introduction

Everyone is extremely excited we are rolling out the XYZ token from yield farming, airdrops and liquidity provider incentivization. We want to go over the dynamics of each so everyone is completely aware of how this is going to work.

First off we would like to make a big announcement, we are switching the token supply from 1 million to 1 billion. There are a lot of stars in the Universe and we feel 1 billion is a better approach for decentralization. We will be updating all the current documents with all the proper information but, to be clear, the only thing changing is the token supply.

Epochs

A very important bit of information to read is how the week-long epochs will work. Essentially the yield farming pools and LP pools will work very similarly from a standpoint of how the deposited tokens will gain rewards. To fully understand the epochs and how they will work I would refer to the docs and click here.

The amount that is taken into consideration when the reward is calculated is relative to the time when you deposit it.

If you enter when there’s only 20% time left, your effective balance will be equal to the actual balance * 20% where the multiplier is exactly that 20%. For the next epoch (and any subsequent epoch), the multiplier is set back to 100%.

If you exit the pool early you will forfeit rewards for the funds that you have removed.

Yield Farming

Yield Farming will begin on Monday, May 31st, 2021, after a week long warm up period. After the first epoch ends it will trigger the start of the Sushi LP incentivization pool that will reward liquidity providers for providing liquidity.

The full list of tokens and their distribution is below:

Yield Farming (7% of total supply)

  • AAVE 1%
  • BOND 1%
  • COMP 1%
  • LINK 1%
  • SNX 1%
  • Sushi 1%
  • ILV 1%
Link to Yield Farming

How do I farm?

To start farming you will need to visit our yield farming page and connect your wallet. Next you need to pick at least one of the 7 tokens and enable it to be used. To enable it, you will have to pay an Ethereum gas fee that will be relatively cheap. Once enabled you will be able to stake into the farm you enabled and start earning $XYZ.

Remember the rewards are accrued in epochs which means you must stay until the end of the epoch to earn your rewards but you do not have to be entered at the beginning to be eligible for accruing rewards.

Link to Yield Farming

Once you are staked in the YF pool you can add tokens as you please but remember your rewards are affected if you remove tokens. Make sure to refer to the information on epochs in the docs if you don’t understand this.

We will explain how to claim at the end of this article so everyone reads all this information.

Sushi LP Incentivization

LP Incentivization will be hosted on SushiSwap.

To start farming XYZ tokens, you need to provide liquidity to SushiSwap USDC/XYZ pool, get a proof of liquidity token called USDC_XYZ_SUSHI_LP, and stake it in the yield farm. Staking that LP token will earn you XYZ rewards according to your pool share ratio. USDC/XYZ LP Pool will be the last farm in the farming page.

Link to Yield Farming

Airdrops

Airdrop “claim” theory will begin on June 7th and last 20 weeks. Week 1 being the lowest value of claim and week 20 being the highest token total claim.

Airdrop “Claim” Theory

Everyone is entitled to their share of the airdrop. Let’s say I’m entitled to 10 tokens. When the airdrop claim period starts let’s say you will only be able to claim 3 $XYZ. You have the option to claim the 3 $XYZ and do whatever you want or you can wait for the full claim of 10 $XYZ. Say you claim early, and there will be a tax of 7 $XYZ that gets pushed to the others who have still not claimed the airdrop. Once you claim your $XYZ you’ll be able to stake it in the Sushi LP or in the DAO staking once it is activated.

Once the 20 weeks have passed you will no longer have a penalty on the airdrop when you claim. This will allow you to claim the full amount and potentially even more with no penalty.

Am I eligible?

People Eligible for Airdrops:

-Discord Community Airdrop 6%

-Community Bidders 2% (fallen amphibians)

-Discretionary Airdrop 8%

-OG Contributors (Original Contributors of the fallen amphibians)

There are 4,000 people eligible for the $XYZ Discord airdrop. The only requirements were you had to be in the discord and send one message by the snapshot in February. If you fall in this category please join the Discord and use command !Airdrop 0x… in the #xyz-airdrop channel.

If you do not submit an address to the discord by Friday June 4th, 2021, you will not be eligible for the airdrop and your airdrop will be allocated to those who did provide addresses. The airdrop claim will go live on Monday June 7th.

We have addresses for the rest of the categories of airdrops, so those people know who they are.

How do I claim?

There will be two claims. One is for the yield farming and one is for the airdrop, they both will be properly labeled so that you won’t mix them up.

Link to Yield Farming

Farmed Tokens

As seen above, the yield farming claim button is on the top left and will prompt the following screen. On this screen you will be asked to claim XYZ from the rewards pools you have staked tokens in. Remember you will need to claim all of these pools individually and will all cost a gas transaction to claim.

Link to Yield Farming

Airdrop

To claim the airdrop you will need to press the claim button on the top right of the screen under airdrop rewards. You will be prompted the following screen:

Link to Yield Farming

The claim period will be 20 weeks long which will run 1 week offset from yield farming.

To claim or not to claim the choice is yours!

Get ready

As you see, there are a lot of farming opportunities coming soon. Get prepared and decide on where to ape in.

Make sure to follow us on Twitter and join our Discord Community Server to stay on top of the latest updates. Cheers!

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The NFT Universe. Built on Ethereum.

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Tyler Scott Ward

Tyler Scott Ward

Read about me on www.barnbridge.com.

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