Discover more from Habitat
New HBT Liquidity Mining Program 🧼
A new wave of HBT Rewards for Habitat Liquidity Providers is launching sSsooon!
🌻 Habitat Recap 🌻
It’s been 6 months since the official launch of Habitat on March 10th 2021. The Habitat Mainnet App is online since June and the Habitat Rollup is steadily producing blocks in a trust-less manner. The Habitat Platform can already facilitate DAO governance votes and on-chain execution of passed proposals, among transfers and vault modules.
Please read our last Update #21 to learn more about our next events and new developments:
With the first functionalities deployed and many more being unlocked and implemented, Habitat is ready to enter the next stage of growth and stability. Following community signals of the last weeks, Habitat is ready to introduce another liquidity mining program for the Habitat Token.
Check our Evolution Page for all Community Signals and ongoing Votes.
Into the Topic:
🧼 Why Liquidity Mining? 🧼
HBT is the native token of the Habitat Rollup, it is used to pay gas-fees on the rollup and token-holders can engage in governance or earn a yield from the rollup fees accrued.
To ensure users can enter the Habitat Ecosystem, they need a reliable and liquid trading venue to buy or sell their HBT Tokens. Only with sufficient liquidity for the HBT token users get a fair price and can enter the app when depositing and paying for gas.
More liquidity helps to initiate a more natural, organic price discovery with less slippage and attract more token-holders and coverage for the Habitat project.
Stable liquidity for the HBT token enables the team and community to refine the Habitat product and use the HBT token as capital in daily operations, to fund growth strategies or other community initiatives, which can be proposed by all members.
A liquid pool and reasonable HBT price enable the rollup operator to finalize transactions at a better rate and makes HBT gas on the rollup more efficient.
🧮 What are the Campaign Terms? 🧮
Start: September 8, 2021 - Start of Epoch #12
End: December 29, 2021 - End of Epoch #27
Total reward pool: 250.000 HBT
Duration: 16 weeks
Emission: 15.625 HBT per week
Reward token: Habitat Token (HBT)
Heads Up for the UNI-LPs:
If you already provided liquidity in the Uniswap v2 Pool, make sure to remove/migrate the funds to the new HBT incentivised SushiSwap Pool.
✨ How to participate? ✨
Navigate to the SushiSwap Pool and “Add Liquidity” - via SushiSwap
You will receive the HBT/ETH LP Token in your Metamask Wallet - via SushiSwap
Deposit the LP Token on the Habitat Rollup Bridge- via Habitat App
Rewards will be claimable weekly on Wednesdays - via Habitat App
The HBT-ETH Pool Token is deposited on the Habitat Rollup Bridge, just like the HBT Token or any other ERC-20 via the Habitat App. To calculate the rewards, Habitat can utilize the running epoch calculator which is already in use for staking and rollup epochs.
Before Depositing to the Habitat Rollup - Please Note:
Once deposited on the Habitat Rollup, it takes a minimum of 7 days to exit funds to the Mainnet. Users can request a withdrawal in the Habitat App, via the option: “Withdraw”.
Full & detailed “How-To” guide for all necessary steps will be posted soon in our Documentation.
💰 How to claim rewards? 💰
Every user interacting with the Habitat App needs a balance of HBT on the rollup. This is needed to top-up the gas tank and to pay for transactions. Users will need to top-up their HBT gas balance in order to deposit LP tokens and to use the earned rewards.
First Rounds of rewards will be airdropped by the Genesis Team, more automation for this process will be iterated with the community.
Habitat Genesis Team will provide a reward calculator, similar to the one which was used in the previous round of liquidity incentives. More Details will be posted soon ☮️