All blogposts
Uniswap v3 DPI-ETH Liquidity Mining Program Launching Soon!
Uniswap v3 DPI-ETH Liquidity Mining Program Launching Soon!
Index Coop launches liquidity mining for our DPI-ETH LPs.
8/20/2021
Index Coop
Content
Liquidity Mining Program Details:
Index Coop launches liquidity mining for our DPI-ETH LPs.
Venue: Uniswap V3 Pair: DPI — ETH Fee Tier (must use this fee tier): 0.3% Pool ID: 0x9359c87B38DD25192c5f2b07b351ac91C90E6ca7 Duration: August 20th, 2pm PST — September 4th, 2pm PST Rewards: 2,000 $INDEX tokens
Four Key Considerations for Liquidity Mining
1. Uniswap V3 Staker Contract
This will be one of the first major pools incentivized using Uniswap’s V3 Staker Contract. Even though the contracts have passed security reviews, the contracts have not been battle-tested the same way Uniswap V2 LM contracts have. Exercise caution when using these contracts.
2. Impermanent Loss Risk
The risk of impermanent loss can be much, much higher on Uniswap V3 than is typical on Uniswap V2. Only LP in Uniswap V3 pools if you know what you’re doing.
3. No Reliable APY, Potentially Highly Competitive
Similar to Uniswap V3 trading fees, LM rewards are concentrated on depositors that facilitate the most trade volume in the incentivized pool. We can not provide a reliable APY for V3 Stakers because the size & band of each Staker can vary greatly.
4. High Gas Costs
Each Uniswap V3 LP Position must be individually staked in the V3 Staker Contract. The Uniswap V3 Liquidity Provision & Staking process may incur high gas costs.
Now on to the tutorial!
How to stake your DPI-ETH Uniswap v3 LP position NFT
The following steps assume 1) that you know what they liquidity programs that 2) you’re comfortable with using a web3 wallet 3) have provided liquidity to a Uniswap v3 pair before. If you haven’t, please check out the official Uniswap guide on how to provide liquidity to a Uniswap v3 pair. Please remember to always do your own research
Let’s dive in!
Next we assume that you’ve already got an NFT that represents your DPI-ETH Uniswap v3 LP position. If so, you can move onto the next step which is heading over to the Liquidity Mining Programs section of the Index Coop website, linked here. Once you land on the Liquidity Mining Programs section of the site, go ahead and connect your wallet, here’s a screenshot highlighting where to find the “Unlock Wallet” button.
Once you’ve clicked the “Unlock Wallet” button you’ll be prompted to connect a web3 wallet of your choice. Make sure the wallet you’re connecting has your DPI-ETH Uniswap v3 LP position NFT.
Now that you’re connected, head over to the “Uniswap v3 DPI-ETH Liquidity Program” Section and click the “Stake & Unstake LP Tokens” button.
If you have your DPI-ETH Uniswap v3 LP position NFT in your wallet then you should be able to see this after clicking the “Stake & Unstake LP Tokens” button as the screenshot below shows ⬇️
Go ahead and select this NFT and click the “Deposit & Stake” button as the screenshot below suggests ⬇️
Et Voila! Your NFT is now staked!
To see your staked NFT, click the “Stake & Unstake LP Tokens” button again.
And you should see this your staked NFT! ⬇️
Claiming your rewards
When you’re ready to claim your rewards simply head to the Liquidity Mining Programs section of the Index Coop website and click the “Stake & Unstake LP Tokens” button.
If you’ve waited some time you should see some rewards 🤑
You’ll also see an “Unstake” button, if you’re ready to claim, click “Unstake”.
You should notice your “Pending Rewards” for that NFT have been moved to “Accrued Rewards”. You will now be able to claim your rewards by clicking the “Claim Accrued Rewards” button.
Et Voila! Your rewards are claimed and in your wallet! 🥳
That’s a wrap folks! We are excited to make this announcement and we hope that this tutorial was helpful!
Now go forth and STAKE!
About Index Coop
Index Coop is a decentralized autonomous organization (DAO) that powers structured decentralized finance (DeFi) products and strategy tokens using smart contracts on the blockchain. We offer a suite of sector structured products, leverage and inverse products, and yield-generating products. We aim to create products that are simple to use, accessible to everyone and secure. Our products are built on Set Protocol, a twice-audited, self-custodial DeFi tool that allows for the creation and management of Ethereum-based (or ERC-20) tokens. Among users, partner protocols, and our composable products, Index Coop maintains one of the largest partnership networks in the DeFi ecosystem.
How to buy Index Coop products with fiat currencies:
First, you’ll need to create an Ethereum wallet like Argent, Metamask, Gemini, or Rainbow.
Next, you’ll set up your new wallet and connect your bank account.
Once you’ve deposited fiat currency in your wallet you can exchange it for Index Coop products like
(DPI) or the
.
You can also earn or buy DPI tokens directly via your favorite decentralized exchange.
Dive deeper
Watch, read, and learn everything you need to master our leverage tokens.
Subscribe to our newsletter
Join over 6,000 subscribers in receiving weekly updates about our products, DeFi, and the onchain structured products space.
FAQs
Streaming fees (an annual fee paid continuously block-by-block)
Mint and redeem fees
Borrow costs (interest paid to borrow funds from onchain markets when using leverage)
Index Coop yield tokens simplify earning yield in DeFi by automating complex strategies and diversifying across protocols. They are user-friendly and cost-efficient, appealing to both new and seasoned DeFi users.
Leverage tokens automate a leveraged position by utilizing onchain money markets like Aave or Morpho to borrow funds, amplifying a user's exposure to an asset without requiring manual management. The token's smart contracts autonomously handle the borrowing, lending, and rebalancing of assets, maintaining a consistent leverage ratio despite market fluctuations. This automation eliminates the complexities of collateral management and liquidation risks, while also charging low, transparent fees that avoid expensive funding rates often charged by perps.
Index Coop is a decentralized autonomous organization (DAO) that specializes in creating and maintaining onchain structured products. Index Coop aims to democratize access to the crypto market, empowering everyone to participate in the growing digital asset ecosystem with ease.
No, yield automatically compounds and accrues to the token price. The value of the tokens you hold in your wallet will simply go up over time without the need to claim or compound rewards.
Index Coop products protect you from liquidation with automated risk management that rebalances assets to maintain a target leverage ratio that avoids liquidation.
INDEX is the ERC-20 governance token on Ethereum for Index Coop. INDEX empowers its holders to participate in decision-making processes that shape the future of Index Coop.
Yes, all Index Coop products are instantly redeemable for their underlying value at all times.
Yes, all Index Coop smart contracts have been audited by leading independent security firms such as OpenZeppelin, ABDK, Isosiro, & more. There is also an active bug bounty program through ImmuneFi. Audit information is published in the docs here.
Costs and fees vary by product, but typically most products can include some combination of the following: