The Offshift anon LP Rewards Program is Live
The Offshift anon LP Rewards Program is officially live. Both the WETH/anonUSD pool on Uniswap and the XFT/WETH pool on SushiSwap are now open to the full public for liquidity provision and trading.
The LP Rewards Program kicks off an eventful and well anticipated mainnet launch week. Establishing a robust market for anonUSD in the days ahead will foster a strong public presence for the asset, and facilitate a smooth launch for the Offshift anon platform.
For full details and a complete, 3-year LP rewards schedule, read Offshift’s February 14 blog post.
To start earning LP Rewards in either pool, follow the step-by-step guides below. However, in order to proceed, both pools only supply new XFT. If you haven’t already upgraded your XFT to the new token, upgrade now.
Without further ado, the process:
Uniswap WETH/anonUSD LP Staking
1. Navigate to the Uniswap LP Staking Dashboard and connect your wallet.
2. Enter the amount of anonUSD you want to mint, and the corresponding amount of XFT you will need to burn as well as the amount of ETH you will need to send for your LP position will auto-fill.
3. Click Add Liquidity and then approve the transaction in MetaMask.
It’s as simple as that — 3 steps and you’re ready to start earning.
Nonetheless, if you want the full story, here’s what happens under the hood you approve the transaction. Your XFT is Simple Shifted into anonUSD, which is to say that your XFT is burned and an equivalent value in anonUSD is minted. Your anonUSD and ETH are then pooled in the Uniswap WETH/anonUSD market, and you are issued an NFT that corresponds to your LP position. Finally, your LP NFT is staked in the Uniswap v3 Staker Contract, which manages all v3 staking rewards pools.
In Uniswap v3 pools, you do not have to claim rewards. Instead, rewards are automatically allocated in direct proportion to the percentage of total liquidity your provide. When you unstake your LP token, you receive the total rewards your LP position accumulated over the duration of your staking period.
*Note: During the 3-day liquidity bootstrapping event for the Uniswap WETH/anonUSD pool, LP positions cannot be unstaked. Unstaking will become available immediately upon mainnet launch.
anonUSD/WETH Uniswap Pool Links
SushiSwap XFT/WETH LP Staking
If you are a current LP in Offshift’s original XFT/WETH SushiSwap pool, you may migrate and restake your LP in the new pool. To do so, follow the instructions in Offshift’s February 22 blog post, under the section titled. How Do I Migrate My SushiSwap Liquidity to the New Pool.
If you do not have an LP position in Offshift’s original SushiSwap pool, you can LP via the following instructions:
1. Navigate to the SushiSwap Add Liquidity page and ensure XFT (contract address: 0x76BC677d444f1E9d57dAf5187ee2b7dC852745aE) and WETH are selected.
Enter the amount of liquidity you want to provide. Approve XFT, approve WETH, and then click Add Liquidity.
2. Add the SushiSwap XFT/WETH SLP Token to your wallet: 0xdaC0324DEbd1F036323C0e207A4cd8e78ee6BDFF
3. Navigate to the new Offshift SushiSwap LP Staking page and connect your wallet.
4. Enter the amount of SLP tokens you want to stake and click Approve and Stake. Then approve the transactions in MetaMask.
Once you have staked, you can harvest the rewards you have accumulated at any time by clicking on the Harvest tab.
SushiSwap Pool Links
In addition to the above guide, the Offshift team and community leads remain available on the official Offshift Telegram to field questions. The entire Offshift Ecosystem has an exciting week ahead. Make sure to join us and stay in touch!