LEVF - HOW TO MINE LFI
Last updated
Last updated
As mentioned in Tokenomics, 75,000 LFI tokens or 75% of total supply is held in the staking contracts for liquidity mining distribution over 10 epochs (20 weeks). This translates to 7,500 LFI rewards for liquidity mining per epoch, distributed in the following two pools:
1. DAI asset supply pool (6,000 LFI reward per epoch)
2. DAI/LFI UNI LP Token pool (1,500 LFI reward per epoch)
Liquidity Providers can claim their LFI reward at the end of every epoch. The LFI reward is based on the amount of liquidity staked relative to the total amount staked in the pool. This is a time-weighted calculation to ensure the fair distribution of rewards. If an LP stakes halfway through the epoch, they will receive LFI proportional to the time staked. LP also has to stay staked till the epoch ends to be able to claim LFI rewards for the epoch.
Redeemable tokens can be checked after each epoch.
1. To participate in the DAI asset supply pool, participants simply stake DAI (i.e. Deposit DAI in DAI pool). They will receive interest-bearing LFI-DAI in return to account for DAI yield when redeemed. LFI rewards can be claimed together with DAI upon redemption of LFI-DAI.
2. To take part in DAI/LFI UNI LP Token pool, participants have to provide liquidity on Uniswap's DAI/LFI pairing.
Click on the ' i ' icon on the top right-hand corner of the DAI/LFI UNI LP Token pool, and then click on 'here' on the info box that appears. This will lead to the Uniswap interface for pairing DAI/LFI.
Input the amount of DAI and LFI to be supplied and click 'Supply' and you will receive UNI-V2 tokens in your wallet.
Now go back to Levf and click 'Deposit DAI/LFI UNI LP' and you will be able to stake the UNI-V2 for the current epoch so as to mine LFI.
You can always go to Dashboard on Levf and check out your Estimated LFI to be mined for the current epoch.
