Staking Rewards for GIV/ETH Uniswap Pool

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Hello GIV Guild,

Based on the strong suggestions by the GIV community, we have decided to extend staking rewards to a Uniswap pool in order to facilitate trades on Uniswap. The Balancer pool is still around 500K deep, and we believe that allowing liquidity providers to rebalance their stake across the pools will not affect the trading experience on Balancer negatively. A GIV/ETH pool will also open up more trading opportunities at lower fees for retail traders on Uniswap holding ETH.

The team will be moving approximately half of its liquidity provided on Balancer to the Uniswap pool so that community members can start trading more on Uniswap immediately.

Logistics

The staking rewards allocation and distribution mechanism will be the same as with the Balancer pool. However, starting at Oct 7, 15:00 UTC, we will also be taking snapshots of the Uniswap pool token holders at random times. We will continue to distribute staking rewards proportionally to liquidity providers based on size of contribution.

For example, if the size of the Uniswap pool is 100,000 USD and the size of the Balancer pool is 400,000 USD, 80% of the staking rewards for the week will be distributed to the Balancer pool token holders, while 20% will be distributed to the Uniswap pool token holders (note: for the first week’s distribution, we will further pro rate this based on number of snapshots for Balancer vs. Uniswap, since the Uniswap snapshots are only being taken after Oct 7, 15:00 UTC).

For the previously published details on Balancer staking rewards, please read this article.

Further Reading

CryptoLocally GIV White Paper

CryptoLocally (GIV) GitHub

How to get GIV tokens

About the GIV Token

Step-By-Step Guide on How to Stake Into the Uniswap Pool

This information is not investment advice. Please read the full disclaimer before investing.

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