Hello community!
We truly believe that getting PHNX into your hands whilst boosting the projects awareness and value is paramount, for that reason we really are going staking mad at the moment, we started with the Unifyre staking event which was a huge success selling out one of the two pools in less than eight hours. Then launching our state of the art Spot Staking dApp and now adding further rewards to users who are willing to bring liquidity to the PHNX Uniswap DEX!
Commencing 23.09.2020 we are going to make the Uniswap deal even better. You can now earn a share of up to $5,000 in PHNX every month depending on how much you contribute to the pool. All you have to do to qualify is make sure your tokens are held in the Uniswap pool for at least 30 days. The rewards program is automatically renewed on a monthly basis unless we advise otherwise.
Uniswap is a fully decentralized exchange that allows users to either earn or trade via their protocol for automated liquidity provision on Ethereum. If you provide liquidity on the platform, you receive a .3% reward generated by Uniswap trade fees.
How It Works
It’s quite simple. All you have to do is provide liquidity via this link — PHNX/ETH pool on Uniswap V2. If you’re not sure about how a liquidity pool works, check this guide.
Whitelist your address here. It’s as simple as that.
Rewards
Earn your share of up to $5,000 per month in $PHNX for providing liquidity. The rewards are distributed based on each liquidity provider’s proportion of the total pool that month, and the tokens must be held in the Uniswap pool for the entire month to qualify.
Example: If the whitelist contains $100,000 worth of liquidity, the $5,000 reward is split over the entire whitelist and therefore — if you’re providing 10% ($10,000) of the whitelisted liquidity ($100,000), you would get an extra $500 per month in addition to your share of .3% of every transaction on Uniswap. We are looking to either offer a dashboard which you’ll be able to view the rankings OR bi-weekly updates which will be broadcast over our social channels.
How to participate?
To be eligible for rewards, you must have locked liquidity on the PHNX/ETH pool for at least one month and have provided an initial amount equal to or greater than 1 ETH, then whitelist your address using this form HERE. Now that you’re providing liquidity, you will get a portion of all trading fees whenever someone buys or sells PHNX. After 30 days you will be eligible for additional reward payouts depending on the amount of liquidity you’re providing compared to the total pool size.
The tokens must be held in the Uniswap pool for the entire month to qualify. If you remove liquidity at any time, you must wait for an additional 30 days from the next time you add liquidity to qualify.
Remember you must also whitelist your address here. It’s as simple as that.
Disclaimers
Please keep in mind you cannot control the amount of any individual token (ETH or PHNX) you get out of the pool. Sometimes the amount can consist of a larger share of ETH than PHNX, or vice versa this is all dependent on swaps that occur by traders.
PhoenixDAO cannot control the security of Uniswap funds and therefore carry no responsibility in the occurrence that funds are lost.
PhoenixDAO reserves the right to cancel or modify the program at any time.
FAQ What is Uniswap?
Uniswap is one of the most used smart contracts in crypto and known to many across the industry as a liquidity leader. They have a FAQ of their own that you can check out right here.
Is Uniswap safe?
Very! It is a technology built on a smart contract with no central authority. Here is a massive security audit performed by ConsenSys.
When do I get rewarded?
Rewards are credited on your whitelisted address every 30 days.
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