How to liquidity mine and farm UNIC
feat. Yield Farmers - Liquidity mining starts at block 12,458,975 (approx 2pm UTC Tuesday May 18th)
Last updated
feat. Yield Farmers - Liquidity mining starts at block 12,458,975 (approx 2pm UTC Tuesday May 18th)
Last updated
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.
Without further ado, let's jump right into it! Go to app.unic.ly
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.
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.
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.
Click "Add 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.
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.
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.
Click "Approve" for the whitelisted pool that we will farm. Then, click on the "+" button 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.
We recommend that you claim UNIC regularly when farming, because pools could get removed from the list via community vote and/or collection unlock.
