“Making your LP Tokens Work for You”
Collateral Pay has opened its UNI V2 LP Rewards.
Collateral Pay is launching a liquidity mining program to reward COLL/ETH liquidity providers on Uniswap V2. We will be setting aside $30,000 COLL Tokens per reward period for participants. Each reward period will last approximately 1 month.
By incentivizing Collateral LPs with rewards, we aim to bootstrap the necessary liquidity to minimize costs/slippage and build long-term value for our ecosystem.
Collateral Liquidity Mining Rewards Program
In addition to the 0.3% trading fees earned via Uniswap, whitelisted LPs will also earn their share of the $30,000 Collateral tokens, proportionate to how much you contribute to the pool.
In this tutorial we will explain how you can add liquidity to the COLL/ETH pair and earn COLL tokens as a reward.
Earn passive income
Uniswap is an decentralized exchange built on top of the Ethereum network. The exchange works by creating liquidity pools which balance themselves through a series of smartcontracts. The contract always tries to balance the amount of these coins so that they have the same value. Incentives are provided to those willing to balance the pairs again in case of a mismatch.
People who add coins to the pools are called liquidity providers (LP). They add or deposit funds to liquidity pools, which are smart contracts that hold funds. In return for providing funds and liquidity to the pool, these LPs receive LP tokens for the corresponding pool they provide liquidity for. In our case users obtain COLL/ETH LP tokens by providing liquidity for the COLL/ETH liquidity pool on Uniswap (V2). They get a small percentage of the transaction fees on the trading pair as well as the extra rewards we provide.
How do I provide liquidity on Uniswap?
- Go to COLL/ETH liquidity pool here
2. Click Approve Uniswap to use your COLL and ETH token.
3. Enter the amount of Liquidity you wish to provide to the liquidity pool. You then have to click Supply to add the liquidity to Uniswap, then you will receive the corresponding amount of LP tokens.
- Keep in mind you must provide both ETH and COLL to add liquidity. An example being you need to add 1 ETH and 2314 COLL.
4. You can add the LP tokens to display in your MetaMask wallet by adding
0x957891C11616D3E0B0A76a76fb42724C382E0eF3 to custom token and it should properly be displayed in your wallet.
Our you can go here and click the Metamask symbol and it will automatically add the token details to your Metamask wallet.
How to qualify
- Provide liquidity in the COLL/ETH Liquidity Pool for a minimum of 30 days.
- Whitelist your address here
- That’s it!
- We will airdrop your rewards.
The contract address for the COLL/ETH LP tokens is: 0xf2a9e1b9b79d708aa2f333e6abac07a1d87451e1
Please bear in mind that Collateral has no control over transactions, lost funds, or impermanent loss on Uniswap.
Daily ROI is constantly changing as more people participate and new liquidity is added.
The individual tokens you eventually withdraw from the pool can consist of a larger share of ETH than COLL or vice versa.
We reserve the right to cancel or modify this campaign at any time.
Collateral Pay is a Polkadot-based decentralized payment gateway that lets users collateralize crypto to facilitate payment for goods and services. Powered by a P2P network of borrowers and lenders, the protocol also allows users to store, stake, loan and save digital assets, with lenders receiving an APY in return.