We’re excited to announce that Kwenta liquidity mining incentives on Optimism are enabled through the KWENTA/ETH Arrakis vault. Our use of Arrakis allows for KWENTA/ETH liquidity mining through an easy-to-use UI directly inside of Kwenta. The Kwenta Improvement Proposal KIP-26 put in place 783.43 KWENTA in rewards to be distributed between Nov 18th and December 18th to participating liquidity providers.
Pool Details:
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Pool: KWENTA/WETH
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Fee Tier: 1%
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Reward: 0.25% of the initial supply or 783.43 $KWENTA (LP rewards are 100% liquid with no vest attached)
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Start: November 18th, 2022
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End: December 18th, 2022
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minPrice: 0
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maxPrice: Infinity
How to stake your LP tokens and receive rewards
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Connect to Optimism
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Acquire KWENTA and ETH
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Deposit your liquidity to the KWENTA/ETH Arrakis pool here.
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Once done, deposit your LP pool tokens into the Kwenta staking contract here.
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Once rewards accrued, LP providers can claim their earned KWENTA at any time.
Important: The Arrakis pool accepts both ETH and WETH. You can switch the Use ETH toggle if you want to deposit your ETH without the need to swap it into WETH.
Why Arrakis?
Arrakis (previously known as G-UNI) curates tokenized LP strategies - specializing in concentrated liquidity (i.e. Uniswap V3) - by converting non-fungible liquidity mining positions in a given Uniswap pool into fungible ERC20 tokens and automating the rebalancing processes.
Liquidity positions are non-fungible and are not represented as ERC20 tokens on Uniswap V3, which means implementing them as part of liquidity mining schemes becomes tricky and difficult. But by using the Arrakis protocol, many of these problems are solved and a lot of the complexities that providing liquidity to Uniswap V3 involves are completely erased.
Find out more about Arrakis here:
https://medium.com/arrakis-finance
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