How to liquidity mine and farm UNIC
feat. Yield Farmers - Liquidity mining starts at block 12,458,975 (approx 2pm UTC Tuesday May 18th)
Since Unicly will have a completely fair launch, the only way to acquire UNIC in the beginning will be through liquidity mining. To encourage fair participation and set up a level playing field, there will be no presale or pre-mining of tokens. Later on, we expect that community members will provide liquidity for UNIC, which will allow non-liquidity miners to also swap into it.
LP token holders of whitelisted pools can stake their LP tokens on the Farm in order to earn UNIC. This is similar to Sushiswap's farming mechanism. In order to acquire these LP tokens, you need to provide liquidity for whitelisted pools. Therefore, in order to provide liquidity, you will need to acquire some whitelisted uTokens and ETH.
Go to the Discover page on Unicly.
Unicly's Discover Page
You can find whitelisted uTokens by looking for a green checkmark next to its name.
Click "Buy uToken" on the uToken you want to get.
Remember, uTokens are ERC20 tokens that represent fractions of NFT collections. The protocol allows uToken creators to provide liquidity on UnicSwap, Unicly's own version of Uniswap. Therefore, acquiring uTokens is as easy as buying any token on Uniswap.
Buying a whitelisted uToken
Now that you have both ETH and a whitelisted uToken (in this example, uLEIA), let's go ahead and provide liquidity.
Go to the Pool page.
Pool page
Click "Add Liquidity".
Adding Liquidity
Click "Select a token".
You should be able to find the uToken you just purchased in the list. If not, go back to step 1 and try to add the token into your list.
Select token
Now decide how much liquidity you want to add. The more liquidity you provide, the more UNIC you can mine, since you will receive more LP tokens.
Add liquidity
Go to the Farm page.
Now that you have LP tokens, you can stake them. You can see the whitelisted pool that we used for this example (uLEIA-ETH) below.
Farm page
Click "Approve" for the whitelisted pool that we will farm. Then, click on the "+" button to stake.
Click on the "+"
Set how much you want to stake
You'll be able to start claiming UNIC after a few minutes. The longer you stake, the more UNIC that you will mine.
Claim UNIC!
We recommend that you claim UNIC regularly when farming, because pools could get removed from the list via community vote and/or collection unlock.
Last modified 1yr ago