LEN:LENM Diesel Pool is Alive!
We finally did it! The LEN:LENM diesel pool is alive and you can find it on Tribaldex website, or on BeeSwap! Nobody has done this kind of pool, combining miner and mineable token and we are excited to see how it will go! It's nice to be a pioneer in this!
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Just a couple of short notes about it...
- Now you can easily swap your LEN tokens into LENM tokens, and vice-versa without exchanging into SWAP.HIVE!
- If you are accumulating your LEN tokens for the long term, you can put "them to work" by adding liquidity to the pool... It's "kind of" staking and you can get the compound effect...
- Liquidity providers will receive daily rewards in different tokens (for now, you receive LEN tokens for doing that)
- If people unstake LENM and provide liquidity to the diesel pool, that will mean higher APR for people who continue to stake them...
- If people buy more LENM to provide liquidity, that means more funds for investing in different programs, which means a more stable LEN token in a long run...
- We are committed in the long run and rewards are created for a duration of 365 days, which means that you don't have to be scared that funds will run out, or that you will not receive your rewards after a couple of days...
All rewards and initial liquidity deposits funds have been bought directly from the markets and there wasn't additional printing of LEN or LENM tokens... Only staked LENM tokens can mint new LEN tokens!
So, in any way, we expect a lot of positive effects from creating this diesel pool... Of course, we will probably create more pools in the future with other tokens involved... Also, we will try to add different tokens to the reward pool in the near future and we were discussing adding them on the weekly basis...
In the following days/weeks, we will create tutorials about how to provide liquidity to the pool, how to directly swap from LEN to LENM (or vice versa), what things to pay attention to when you do that, etc...
We have probably forgotten tons of things in this first post, so if you have any questions, you can ask them in the comment section and we will gladly answer!
Links where you can find LEN:LENM diesel pool:
https://tribaldex.com/dieselpools/pools
https://beeswap.dcity.io/swap?pools&search=LEN
Liotes
A project run by @ph1102 and @achim03
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Thanks for the upvote and pick! Appreciated!
Just wondering about the diesel pool themselves but do you put down the entire payment for 365 days right away or do you put them in at smaller chunks to make sure there is enough to pay out?
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Yes, you have to put a complete amount right away for the X days... That's why most others do just 20-30 days and then renew their rewards... Of course, we can always add other (or the same) tokens to the rewards pool and they will be divided into the rest of the days of the distribution contract...
!LUV
Ah ok that makes sense. I didn't fully understand that portion even if there were rewards already out there for everyone.
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That's a very original way to do a diesel pool, and makes sense too, keep up the good work and stay !ALIVE
@liotes! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz.ctp. (1/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
Thank you, Erik... As nobody did it, it will be interesting to see how it goes...
!PIZZA
I will see the results of this, and if it goes well I might do the same for !ALIVE and ALIVEM.
@ph1102! You Are Alive so I just staked 0.1 $ALIVE to your account on behalf of @flaxz.ctp. (1/20)
The tip has been paid for by the We Are Alive Tribe through the earnings on @alive.chat, feel free to swing by our daily chat any time you want.
I already saw it while doing some diesel pool tasks and provided some liquidity. Great to see it happen.
hehehe... You were fast! Thanks for providing liquidity! It's still a relatively small pool, but I'm sure it will grow...
As the pool is small, it will be interesting if some arbitrage opportunity comes out from it...
!PIZZA
Yep, that might happen.
PIZZA Holders sent $PIZZA tips in this post's comments:
ph1102 tipped gadrian (x1)
ph1102 tipped flaxz.ctp (x1)
@ph1102(6/6) tipped @darmst5339 (x1)
You can now send $PIZZA tips in Discord via tip.cc!
Great news! Checked out the pool on Tribaldex - great conditions!💪 Congratulations!
Thanks! We will add more rewards in the following weeks, so it will be even better... ;)
👍
I don't have much but I put what I had into the pool. I guess a little is better than nothing if it helps out the project.
Nice! APR is over 85% at the moment, which is 5 times more than with staking LENM... ;) Enjoy your rewards! :)
!PIZZA
This is great and congratulations for setting it up. I will be checking it shortly.
Thanks! We hope that it will help wise people to earn more :)
!WINE
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Awesome!
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Thanks! It is! I hope it will be useful for others!
Awesome! I add something via BeeSwap. Is there any difference between BeeSwap and Tribaldex?
Great to see jumping on and using your LEN tokens!
There is no difference between the two... It's a different frontend, but for the same thing... I'm using Beeswap all the time as it's simpler and easier...
!LUV
@ph1102(2/4) gave you