Two weeks ago, we announced the start of our Liquidity Mining program. Within the first 24 hours, we reached $100 000 total liquidity - which grew to over $540 000 today. At the time of writing, 10M+ PLR and 1000+ ETH have been added to the pool.
During these first successful weeks, we’ve carefully examined the numbers and listened to feedback from the community and other stakeholders. Based on these learnings, we have decided to implement a new rewards structure for the remainder of this 30-day experiment.
We’ve also created a new dashboard that makes it easier for Liquidity Providers to see the rewards they’ve earned. All in all, we hope the dashboard and new incentives make it an even better experience to be a Pillar Liquidity Provider.
💰 Pillar Foundation is adding 100 000 PLR to a weekly rewards pool. All Liquidity Providers will share a pro-rata allocation of this pool.
🖥️ In order to be eligible for rewards, you have to stake your LP tokens using our PLR Rewards Dashboard. Simply WalletConnect (or use any other method to connect your wallet) to it, stake, and your rewards will be calculated automatically.
⏳ This new phase starts on Friday, July 24 at 00:00 BST and ends on Thursday, July 30 at 23:59 BST.
Read our guide to staking ETH-PLR tokens for PLR rewards here.
With our introduction of an automated process for Liquidity Providers to stake their LP tokens and claim their PLR rewards, participants can now check their reward balance in real-time. Simultaneously, we are calculating the rewards and working out the distribution of PLR rewards to Liquidity Providers who seeded their tokens in weeks 1 & 2 (10-24 July). This payout will take place next week.
As explained in this blog post, all Liquidity Providers earn additional rewards in the form of Uniswap fees and extra governance weight in the Pillar community DAO. As we roll out the Liquidity Provision incentive program, we're also working to integrate this process entirely into the Pillar mobile app to provide a simple, unique & native experience for our token holders.
These and many more topics are being discussed daily in our Discord - join us there!