Liquidity Rush & Boosting ETH-STRM SLP Earnings
We held a liquidity rush for 3 weeks where stakers of STRM-ETH SushiSwap LPs (SLPs) were able to earn STRM.
After we concluded our LBP TGE event on Copperlaunch on the 9th of December 2021 raising $3.22 million, we seeded the ETH-STRM liquidity pool on Sushiswap and immediately kickstarted a Liquidity Rush Program where LPs can supply liquidity to the ETH-STRM pool and deposit their LP tokens on the Instrumental app.
In the Liquidity Rush event, there were multiple programs:
- Stakers of STRM-ETH SushiSwap LPs (SLPs) who staked within the 3 week liquidity rush earned 3% of $STRM which could be claimed immediately.
- Users locking STRM-ETH SLPs within a three-month locking period will also earn 5% to be vested over three months.
- Users will also be able to lock STRM tokens, to obtain veSTRM. Users who lock veSTRM have the option to lock for:
- 1 month
- 3 months
- 6 months
- 1 year
- 2 years
5% of $STRM tokens will be distributed to lockers of veSTRM within the first month to vest over three months.
- Stakers of STRM-ETH Sushiswap LPs (SLPs) during three weeks earned 3% of $STRM which could be claimed immediately.
- Users locking STRM-ETH SLPs within a three-month locking period will also earn 5% to be vested over three months.
- Users who are locking veSTRM will earn 5% if they lock within the first month, to be vested over three months.
For the duration of the Liquidity Rush Program, we recorded a total of $1,131,199 TVL within 3 weeks. LPs earned 687.34 APY and 3% of $STRM was distributed to stakers, vested over three months.
This liquidity rush program has been a tremendous step forward in enabling our efforts as we continually hone in on our vision for a more interoperable blockchain environment. We want to thank all contributors for their participation and their support in helping us edge closer towards realizing a chain-agnostic ecosystem for liquidity provisioning.
As the Rush Program has come to an end, here are the next steps to follow to boost your APY earnings for your ETH-STRM LP tokens now unlocked.
First, as a user who participated in the liquidity rush program, you are able to withdraw your original ETH-STRM LP tokens in addition to the $STRM that you have earned as rewards in the liquidity rush.
After withdrawing and harvesting your ETH-STRM LP tokens, users can lock the newly withdrawn ETH-STRM LPs for three months for additional and superior yield.
The additionally claimed $STRM from the program can also be locked for veSTRM to participate in revenue share opportunities. You can choose your STRM lock period from a 1-month minimum lock period to 2 years. The longer your lock period for your $STRM, the more earnings you get.
Last modified 1yr ago