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After an initial 30 day test we have now enabled the STARBITS:STARPRO liquidity provider rewards for a full 90 days!
Earn Rewards
We have put in an initial allocation of
- 270 SWAP.HIVE
- 5718 ONEUP
- 330 PIZZA
into the pool of which 1/90th will be paid out to liquidity providers each day along with a share of the pool swap fees.
The eagle eyed among you will notice that there is only 269 SWAP.HIVE above. What we didn't realise is that the first payout went as soon as we reactivated the pool so there are actually only 89 days left now!
We plan to top up these balances if enough people participate and we have funds available.
How To Join and Start Earning Fees and Rewards
To earn rewards you stake an equal value of STARBITS and STARPRO into the pool and get paid based on your percentage of the total amount provided by all participants.
Note that the largest liquidity provider is @wagginston but he is excluded from receiving rewards leaving more for all of you!
IMPORTANT - Impermanent Loss
The most important thing to know about liquidity pools is that you may not get the same quantity of the tokens you initial staked when you unstake them. This is because every time someone does a swap between the tokens the exchange rate changes and the number of tokens is rebalanced.
If the exchange rate was exactly the same when you unstake your tokens then you would get back the same quantities however it is more likely that you will get more STARPRO and less STARBITS or more STARBITS and less STARPRO.
Tutorial
You will not get rewards for the first 24 hours after you stake so make sure you leave it alone for a few days and remember that if you adjust the amount you have staked you will miss out on one days rewards as it excludes you for 24 hours again.
If you are new to liquidity pools you may want to start with a small amount so you can see what happens.
- Go to TribalDex and click on "Pools":
Click on "Add Liquidity" and type "STARPRO:STARBITS" and select that pool.
Then enter the amount of either token that you want to stake and it will automatically fill in the quantity of the other token that is required.
Assuming you have enough of both tokens in your wallet you can then click the "Add Liquidity" button and confirm the transaction in Hive Keychain to stake your tokens.
Congratulations, you are now a liquidity provider and will receive a percentage of the fees paid by people using the pool to swap their tokens as well as your share of the reward tokens in the pool.
Rising Star - The Play2Earn NFT virtual music career game built on Hive.