By popular demand, our FOX/ETH farming rewards have once again been extended! If you are currently farming in our old pool, please unstake and move your LP tokens to the new yield farming contract to participate in the new round and earn up to 130% on your staked FOX/ETH LP tokens! If there ever was a time to start farming these LP tokens with us, now is it to make sure you don’t miss out on this potentially high yield opportunity while retaining your governance ability!
The new LP pool can be found here.
Revisiting Our Approach to Liquidity
The ShapeShift DAO has approved the continuation of liquidity mining incentives in the Uniswap FOX/ETH pool, effectively extending and modifying the current liquidity mining rewards.
The new strategy will maintain liquidity mining rewards near or at current levels for an additional four and a half months starting in early July 2022. It’s no wonder this proposal passed with 4.64 million votes, as the advantages of the DAO continuing to provide access to protocol liquidity is paramount in maintaining a healthy FOX Token ecosystem for our FOX family and community members. You can read the full proposal here.
The Uniswap rewards program allows FOX holders to provide liquidity on the decentralized exchange Uniswap v2 and stake their liquidity provider tokens in the ShapeShift staking rewards contract for a proportional share of the distributed FOX Tokens over the four and a half month period.
The ShapeShift DAO will continue its rewards in the Uniswap FOX/ETH pool targeting a 75% APR or higher (funded with 6.75 M of FOX over the period). Playing an essential role in both ensuring that FOX has a presence on Uniswap and throughout the DeFi ecosystem, as well as expanding the universe of FOX holders. FOX Token holders will continue to enjoy farming rewards and earn FOX; check out this helpful guide on how to add FOX to a liquidity pool and staking contract.
The ShapeShift DAO is powered by SafeSnap (SnapShot + Gnosis Safe), which means community members can propose and vote on proposals with zero gas fees, and the result of those votes can trigger on-chain transactions. Voting power applies to those with FOX in their wallets and includes FOX in the FOX/ETH Liquidity Pool on Uniswap, which means that when you stake your tokens in round four of our Uniswap v2 LP contract, you can still participate in our governance process!
Farming For the Future
Even during times of market instability, our FOX community is committed to maintaining and growing our protocol owned liquidity while providing methods for our fellow FOXes to earn great yield! Stake your FOX/ETH LP tokens and explore the DeFi universe as it was meant to be一with no KYC or added fees一with ShapeShift!
All Chains, All Protocols, All Wallets. Share Our Vision at app.shapeshift.com