Optimism ($OP) Liquidity Mining Pool is LIVE on xToken Terminal!
In case you missed it, our proposal to manage Optimism’s $OP LM incentives passed, granting xToken Terminal, Gamma Strategies, and Uniswap V3 Staker a total of 900k $OP tokens to distribute to LPs over a six month period.
The Optimism rewards pool is now live on Terminal! In this post, we’ll share the details of the program and step-by-step deposit instructions, so you can stake and start earning $OP. We will initialize rewards in 24 hours (2pm EST Tues 9/20) to allow time for LPs to deposit.
Designing an LM program for $OP
At the time of writing, Optimism is the only leading ETH scaling solution with a liquid token. The $OP token, which serves a focal role in the governance of the network, has already generated significant interest from investors. To capitalize on this opportunity, it is essential that Optimism is able to bootstrap a strong, stable foundation of liquidity for the $OP token.
Our proposal was designed with this objective in mind, with all 900k $OP incentives being distributed to OP <> WETH LPs on Uniswap V3 over a period of six months. Uniswap V3 is the highest volume and most capital efficient DEX on Ethereum and will provide Optimism users with a powerful option for token swapping and earning yield.
To bring a diverse set of options and strategies for LPs to choose from, we teamed up with Gamma Strategies and Uniswap V3 Staker to distribute the incentives. Each protocol brings a unique spin on Uniswap V3 liquidity provisioning, varying in approach and complexity.
Provide liquidity on Terminal to earn $OP — and a chance for a free OPepe NFT mint!
With our portion of the rewards allocation, we’re incentivizing a full-range OP <> WETH pair using Uniswap V3. Simply stake in the Terminal pool on the Optimism network and automatically start earning $OP! Follow the guide below to deploy liquidity in just a few minutes.
The program will run on Terminal for six months and $OP tokens will be distributed linearly. In addition to earning $OP tokens, LPs who deposit and maintain more than $200 of liquidity will be entered into a drawing to receive a free Rare OPepe NFT. This collection was created by artist SphincterBob as an extra incentive for stakers. We’ll have a blog post out later this week with more on the collection and minting process.
Ready to stake in the Terminal $OP pool? Here’s how
To participate in the rewards program, follow the four steps outlined below.
Note: this is an Optimism pool, so make sure you’re connected to the Optimism network and have bridged funds accordingly. We recommend following these links for Optimism-compatible bridges and detailed bridging instructions.
To stake in the Terminal OP <> WETH pool:
- Navigate to the OP <> WETH pool in the Terminal Mining app.
- Select ‘Deposit’.
- Enter the amount of $OP and $WETH you’d like to deposit. You’ll need equal amounts of each to provide LP. If you need to swap, there are links to the swap paths on Uniswap in the deposit modal.
- Approve both tokens and click ‘Deposit’.
Done! You can now deposit additional liquidity, withdraw that liquidity, and/or claim rewards from the OP <> WETH pool page UI.
For more on depositing and xToken Terminal overall, check out our docs.
What is xToken Terminal?
xToken Terminal is the permissionless investment bank, providing DeFi and NFT projects with seamless access to fundamental on-chain primitives, no dev work required. Our flexible contract architecture and intuitive interface enable projects to be their own CFOs and investment bankers, in just a few clicks.
Our first app — Mining — allows projects to deploy a highly customizable Uniswap V3 liquidity mining campaign in five minutes. Our second app — Origination is a flexible fundraising tool, allowing projects to easily deploy token offerings with a wide range of use cases and customizable features.
