LUXY Staking pool now open!
Initial LP & Liquidity Mining
LUXY Farming Pools
Total Incentives: 20mil LUXY
20% of the LUXY token supply is allocated to provide liquidity and rewards to the LUXY token! It will be used for the initial liquidity provided to our USDC/LUXY pool and Liquidity mining incentives.
An initial liquidity pool will be set up with 12.5% of incentives on SushiSwap with 2mil LUXY + $200,000 USDC to launch token at $0.10
Total Rewards: 10mil LUXY
The initial liquidity mining program will start with a duration of 1 year in order to attract liquidity to the LUXY protocol. 10mil of the tokens allocation will be distributed between 4 farms with a duration of 3 months, for users who lock LUXY-USDC LP tokens in the contract.
LUXY Token Farming Pools
APR will be dependant on the amount locked into LP Farms. For example, if we were to get 5% of the total LUXY supply in LPS farming, we get the following APRs.
NOTE: Providing liquidity using the LUXY website will be available shortly after the pool is created, but you can use https://app.sushi.com/swap?outputCurrency=0xd4945a3d0de9923035521687d4bf18cc9b0c7c2a to provide directly on SushiSwap!
Liquidity providers earn a 0.25% fee on all trades proportional to their share of the pool. Fees are added to the pool, accrue in real-time, and can be claimed by withdrawing your liquidity. We are using SushiSwap to provide liquidity, this means you will be able to see the official LUXY-USDC pool on our website and on SushiSwap!
Step 1: You can head to finance.luxy.io and enter the Liquidity Pool page or use the SushiSwap app to provide liquidity: https://app.sushi.com/swap?outputCurrency=0xd4945a3d0de9923035521687d4bf18cc9b0c7c2a
Step 2: Connect your wallet to LUXY or SushiSwap on Polygon Mainnet (Make sure you have some MATIC to cover gas fees!).
Step 3: Input the amount of LUXY or USDC you want to add to the pool (Please note that you need to have both tokens in your wallet and the two token amounts need to match each other in monetary value! e.g. LUXY $0.10 — USDC $1).
Step 4: If this is your first time providing liquidity with LUXY and USDC in the Sushi Swap pool click “Approve” to enable the contract to spend these tokens.
Step 5: Click “Confirm Adding Liquidity” and you’re all set!
You will receive LUXY-USDC SLP tokens which represent the shares of the total liquidity on the pool. You can check the pool share and represent by LUXY-USDC SLP in your wallet in this section:
If you would like to know more about Liquidity Pools you can check SushiSwap docs:
“Liquidity pools are a place to pool tokens (which we sometimes call liquidity) so that users can use them to make trades in a decentralized way. These pools are created by users and decentralized apps (or Dapps, for short) who want to profit from their usage. To pool liquidity, the amounts a user supplies must be equally divided between two coins: the primary token (sometimes called the quote token) and the base token (usually ETH or a stable coin).”
Join the Farm!
Step 1: Head over to finance.luxy.io and enter the farm page.
Step 2: Connect your wallet to LUXY on Polygon Mainnet(make sure you have some MATIC to cover gas fees!).
Step 3: If this is your first time staking LUXY-USDC SLP tokens click “Approve” to enable the contract to stake this token.
Step 4: Input the amount of LUXY-USDC SLP tokens you wish to stake or click “Max,” then click, you guessed it, “Stake.”
Step 5: Approve the transaction in your wallet and you’re all set!
Your staked tokens and available rewards will be displayed in this section:
Check your staked tokens and harvest the rewards at any time!
Till next time…
💗 Team LUXY
Connect with LUXY
Send your project here: https://luxy.io/
LUXY is becoming the go-to NFT platform, established in March of 2021, and has evolved into a team of 15. Starting with a next-gen Marketplace that is designed to offer a new and much improved NFT experience. It is built to be multichain, starting with the Polygon blockchain allowing it to be fast, scalable, green, low cost, and user-friendly. Decentralization is the core of crypto, so at every step, our marketplace is built around that core concept.
LUXY will offer your standard marketplace features plus additional features curated over months of research. These will include support for; GameFi, 3D models, Collection Launchpad, User-owned Collections, Multiple Royalty Addresses for group projects, direct royalties, all file types, White Label Solutions, and UI/UX for ease of use.