In conjunction with last week’s launch of Swapr Beta, DXdao is using its treasury funds to launch farming campaigns for the Swapr DXD/WETH pools on mainnet and xDai. The campaign is meant to showcase Swapr’s new permissionless farming platform. Permissionless means anyone can launch a campaign on Swapr — even a DAO. Read on to find more about:
- Farming rewards for campaigns starting Friday, June 25 at 15:00 UTC
- Overview of how DXdao governance initiated the farming campaign
- A quick guide on how to farm on Swapr!
The xDai campaign proposals have already been executed, while the mainnet proposals are expected to pass in roughly 7 hours at the time of writing. At the moment, the only pair on Swapr with DXdao-sponsored rewards is the DXD/WETH pool on xDai and mainnet. There are two separate campaigns for the same pair, and LP tokens can only be staked in one of these campaigns. The campaigns for each chain are as follows.
- WETH/xDXD unlocked — 4-week standard campaign with 8.1 WETH and 38.5 xDXD as dual rewards
- WETH/xDXD locked — 6-week staking cap and time lock campaign with 6.1 WETH and 96.2 xDXD as dual rewards
Mainnet campaigns [Proposals not yet executed]:
- WETH/DXD unlocked — 6-week standard campaign with 67.3 DXD and 17.3 ETH as dual rewards
- WETH/DXD locked — 8-week staking cap and time lock campaign with 192.3 DXD and 9.1 ETH as dual rewards
Mark your calendars for Friday, June 25 at 15:00 UTC, when all four of these campaigns will kick-off. Looking for a countdown? The Swapr rewards UI displays a timer counting to the campaign start time. Take a look at the above xDai or mainnet campaigns once the relevant proposals have passed.
How a DAO launches a farming campaign
Swapr’s farming platform is powered by a staking contract that locks up Swapr LP tokens (or any ERC20 token) and issues rewards to addresses with tokens locked in the contract. Any Ethereum address can interact with these smart contracts and launch a campaign of their own. For a DAO, it’s a bit trickier to do it in a trustless way.
To accomplish this, the DXdao community deployed a relayer contract that accepts funds and receives campaign details from DXdao, sends the funds to the farming staking contract, and sets the parameters of the farming campaign, which will appear in the Swapr.eth UI when the proposal is executed.
On both xDai and Mainnet, REP holders approved proposals to send ETH and DXD to the farming contract relayer. A separate ‘multicall’ proposal that programs the farming campaign parameters was submitted and passed after the funding proposal (note: the mainnet proposal is expected to pass at approximately 03:16 UTC on 6/25)
How do I farm on Swapr?
Swapr’s farming interface highlights pools with active reward campaigns directly in the user interface. The “Pairs & Rewards” page has a comprehensive list of the largest Swapr pairs, as well as any associated rewards, represented by a “X% APY” banner. Here is a quick rundown on how to join a reward pool:
1.) Select your pair of choice
Swapr highlights all pools with an active reward campaign when you select “With Rewards” from the “Pairs & Rewards” page. Because Swapr liquidity mining is permissionless, you should consistently double-check that any pairs or reward tokens are authentic and trustworthy. Once you’ve chosen a pool, click on it to be sent to the dedicated pair page.
2.) Choose your campaign
When viewing the pair page (In this example, WETH/DXD), Swapr will show you reward pools under the pair information. “Active rewards” are currently accessible, allowing users to deposit LP tokens right away if the staking threshold hasn’t been met. “Upcoming” displays any reward pools that have been funded but are yet to commence. Clicking on these will show a timer counting down to when LP tokens are able to be deposited and rewards start accruing. The final option is “Expired (30 days)”, which displays intricate information on any concluded campaigns within the preceding 30 days. Select the campaign you wish to take part in.
3.) Deposit liquidity and stake
You’ve picked your campaign, great! (Here’s our example, if you are just following along). You can start by adding liquidity to the pair, found in the uppermost right corner. It’s worth noting that your earnings in a campaign are based on your percentage of staked LP tokens vs other staked funds, not your percentage of the total liquidity pool.
As the proud owner of LP tokens, you are now able to “Deposit and Stake” as soon as your preferred campaign is live. Then you’re done! You are now able to claim rewards at any time or withdraw your LP tokens, provided the pool is unlocked. If you have any trouble with this guide, or something unusual pops up, shoot the community a message on Discord.
About DXdao: DXdao is a decentralized collective that builds and governs DeFi products. DXdao was spawned in May 2019 through a collaboration between Gnosis and DAOstack. Reputation (REP) is voting power in DXdao, and DXD is the financial token with a claim on profit from DXdao products.