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Liquidity Mining ARA
Liquidity Mining ARA — Announcement, Important Links, and Step-by-step GuideThe TL;DR:
You can liquidity mine ARA now!
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You can stake in the Gysrs now. Rewards begin 2021-July-24 00:00:00 UTC.
Contract Addresses and Links
0xa92e7c82b11d10716ab534051b271d2f6aef7df5 ARA
0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48 USDC
0x81ef0c70fa76c8e7563cb26ee34a2e7f2a77c410 USDC_ARA_SUSHI_LP
Announcement
The Ara project is pleased to announce that we’ve chosen SushiSwap and Gysr as platforms for liquidity mining the ARA token (also called yield farming). 300 million ARA are locked in smart contracts, set to reward providing liquidity and holding ARA, over the next 10 and 200 weeks, starting 2021-July-24 00:00:00 UTC. Complete details follow.
Ara is not a DeFi project (We’re a decentralized web project and Ethereum blockchain project — check out our whitepaper and GitHub!) As such, we’re actually not trying to innovate in this area. Rather, we’ve chosen a simple and straightforward liquidity mining setup for ARA, arranging familiar, off-the-shelf DeFi platforms and tools in a common, recognizable way.
So if you’re already an experienced yield farmer, everything here will likely be familiar to you. And if you’re new to token swapping and liquidity mining, this project and guide may be a good place to start.
Our goals liquidity mining ARA are to: decentralize ARA (so lots of people have ARA and are using it, not just a few); enable swapping between ARA and other tokens (connecting ARA into the whole tokenized world); and incentivize liquidity (so swaps large and small work great).
Token Flow
Use MetaMask on mobile to swap freely between ETH, USDC, and ARA. Pool ARA with USDC on SushiSwap to get the ARA/USDC SLP pool token. Stake this token in the first Gysr to earn ARA as a reward. Additionally, you can stake ARA to earn ARA in the second Gysr.
Example moving tokens in:
- 1.Take some ETH;
- 2.Swap half of it to ARA, and the other half to USDC;
- 3.Pool the ARA and USDC in the SushiSwap pool, getting the pool token for the pair, SLP;
- 4.Stake the SLP in the Gysr fountain, earning ARA.
Example backing tokens out:
- 1.Whenever you want, unstake your SLP from the Gysr fountain. You’ll get all your SLP back, as well as the ARA you earned during the time you were staked.
- 2.Unpool from SushiSwap, turning in your SLP to get ARA and USDC back.
What if you have some additional ARA without USDC? Can you stake ARA by itself? The answer is yes, using the second Gysr fountain, which rewards ARA for staking ARA.
You can use the Sushi pool, either Gysr fountain, just one or some of those, or all three, and in whatever amounts you choose. You can move tokens in once and leave them pooled and staked for a long time. Or, you can periodically back tokens out, swap to adjust quantities, and move them back in again. The best strategy depends on your goals, and how many tokens everyone else has put in each pool. These details can’t be known beforehand, and will change over time.
Token Allocation
One billion ARA exist. 30% of them (300 million ARA), are allocated for mining. One quarter of these (75 million ARA), are locked in the ARA -> ARA Gysr, rewarding the hodl 💎. The remaining three quarters (225 million ARA), are locked in the ARA/USDC SLP -> ARA Gysr, rewarding liquidity 💦.
Both Gysrs will release ARA for 200 weeks (nearly four years), beginning 2021-July-24 00:00:00 UTC. The second Gysr will reward evenly over this time period. The first Gysr will release two thirds of its rewards (150 million ARA), over the full 200 week time period, and greatly concentrate one third of its rewards (75 million ARA), over just the first 10 weeks.
ARA came to DeFi in January 2021 with an ARA/ETH pool on 🦄 Uniswap v2. Through that pool, about 42 million ARA were decentralized to the world. We now expect most liquidity to migrate from Uniswap to SushiSwap, as Sushi is where the Gysrs reward liquidity.
23 million ARA are in the hands of trusted partners to the project, who are assisting us with advice, outreach, and community, but are not developers or members of the core team. Team and advisory distributions are under 25%. The remaining ARA (depicted as open starfield in the diagram) is in reserve.
A decision made once-per-project; Gysr’s on-chain guarantee
300 million ARA are locked in Gysr’s smart contracts, which will reward them over the 200 week duration. This is an on-chain guarantee — no one (not you, not us, not the Gysr team) can change how the Gysrs work. No one can remove the ARA or shorten or lengthen the time periods. As someone who’s used personal computers since nearly their inception, setting up the Gysrs was an interesting experience — there is absolutely no ‘Undo’ button here.
For this reason, setting up liquidity mining is something a project gets to do one single time. This part of the Ara project is finished. We won’t create or fund additional liquidity mining or yield farming pools, even if newer (even potentially better) options exist in the years ahead.
We’re glad smart contracts provide these public and irreversible guarantees. They place many details of the ARA token safely and comfortably beyond our control, a compelling benefit of decentralization. While they run automatically on the blockchain, we’re looking forward to spending our time and energy working on the software, marketing, community and every other part of the project.
Last modified 5mo ago