One of the greatly anticipated project that was supposed to launch last week but was delayed... Happy to share that it has launched today in Terra! Quick recap - Terra ecosystem is utilising Luna and UST as its native tokens (to pay for gas).
What is it?
It serves to hold on to Terraswap's liquidity pool (LP) pairs, and rewards ASTRO (note: $ASTRO token is not launched yet) on top of what we're receiving for providing liquidity. This is pretty much a gross under-statement on what Astroport has to offer - may I point you to the Astroport litepaper to read up more on it? On another note, what's Terraswap? Well, it's the protocol holding onto the native LP pools in the Terra ecosystem.
Link to the main page: https://astroport.fi/
Link to the lockdrop (see below screenshot for details) launch: lockdrop.astroport.fi
Timeline as below, and we're in Phase 1. The project will launch on 28 Dec 2021.
How to join?
Under the Active Phase tab, look for the LP you would want to provide for.
- If you do not have any LP currently, clicking on "Provide Liquidity" will bring you to Terraswap's page for you to do so
- If you have existing LP, you can click on "Lock LP Tokens"
Below is the "Lock LP Tokens" button.
It'll bring you to the next page as below.
- Choose the % of LP you would like to lock up
- Choose the period you would like to lock up (up till 52 weeks AKA 1 year)
Playing around with the above 2 options will influence the "Est. ASTRO Rewards" at the bottom of the page. Find a % and timeframe that you're comfortable with, and go ahead and click "Lock LP Token" at the end of the page. There'll be some prompts to remind you of the risk and also that this decision is irreversible.
Did I say irreversible? Yes I did, but Astroport is offering a 7-day period in Phase 1 for the fickle-minded.
After you lock your LP tokens as per above steps, you'll see below section when you head back to the Active Phase tab. Yes I'm in bLUNA-LUNA LP and have locked it till year 2022. See the "Unlock LP Tokens" at the right hand side? That's for you if you want.
Below are the points to note if you decide to withdraw. It's only allowed in the first 7 days, with day 6 and 7 having some restrictions in doing so. So if you're regretting for some reason, do take the action soon.
How to maximise my rewards?
For Phase 1, the obvious way is to lock as much as you can, for the longest period possible. The allocated ASTRO rewards is based on the timeframe (i.e. someone locking the same amount for a shorter period will be rewarded lesser than you).
Have fun with Terra guys! Let me know if you have any thoughts and comments, happy to learn from you!
Image credit: well, Astroport
