Yield Farming on Unifty
Last week, our team revealed multiple upcoming MCDC projects. This includes the $1000 meme and artwork competition which will be featured in Pete’s Art House, and also the trailer and specifications for our blockchain videogame Drivethru on xDai. This week we are announcing the launch of the MCDC Liquidity Incentive for a total of up to 500,000 MCDC in rewards. The incentive allows users to stake MCDC/ETH Uniswap LP tokens (on Ethereum) and xMCDC/xETH Honeyswap LP tokens (on xDai) on Unifty and receive an automatically redeemable NFT of various levels.
This medium post explains how to stake LPs and earn points which can be redeemed for the NFTs that can later be used to claim MCDC and xMCDC rewards.
Liquidity Incentives cover two trading pairs:
Uniswap MCDC/ETH on Ethereum — LP pair can be found at: 0x76d629ebad7fdf703ed5923f41f20c472e8f23e3
Honeyswap xMCDC/xETH on xDai — LP pair can be found at: 0xc577cddabb7893cc2ca15ef4b5d5e5e13c3feed3
Do not attempt to stake any other pair as these pairs are not eligible for staking. Also note that you cannot stake only MCDC or xMCDC by itself.
If you have never done liquidity pooling before, please familiarize yourself with the risks and benefits.
For instructions on how to become a liquidity provider please read this.
Direct links to the liquidity pairs (please double check before adding liquidity):
NOTE: xMCDC is MCDC that has been 1:1 bridged to xDai. Bridging instructions can be found here.
All stakers will be eligible to earn 1 point for every 1 LP token staked per day. Note that 1 Uniswap MCDC/ETH LP token does not represent the same dollar value as 1 Honeyswap xMCDC/xETH LP token. After staking, you will begin immediately accruing staking points in real time. Our goal is to reward people who provide 2 ETH worth of liquidity for 30 days with 10,000 MCDC.
Each farmed NFT card will be redeemable for 10,000 MCDC. At the time of writing, the estimated APY is around 100–200%.
Please note that there is no early redemption, and the points earned, but not redeemed for an LP Reward Card are not eligible for full or partial MCDC/xMCDC rewards.
Access the liquidity farms at the following addresses, connecting your MetaMask to the Unifty platform:
NOTE: If you experience issues using the xDai site, please ensure that you are connected to the Unifty.cloud RPC on MetaMask.
When you have enough points to redeem an available NFT LP Reward card you will see “REDEEM” written beneath the card. Once that is done you can see the number of NFT LP Reward cards you own directly beneath the card.
The process to redeem NFT LP Reward cards for MCDC and xMCDC will be announced in the second half of April.
For questions please check out our Telegram group.