HBT Liquidity Mining Begins

Start receiving HBTs on the Habitat Rollup by providing liquidity to the new SushiSwap Pool

Sep 8, 2021

Check our latest update to catch up with all details behind the new Liquidity Mining Program for the Habitat Token:

🌻 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 modu…

2 years ago · 2 likes · Victor

🧼 Liquidity Mining Starts Today 🧼

On Wednesday, September 8th Habitat will start considering liquidity held on the Habitat Rollup Bridge for the distribution of $HBT governance tokens. The liquidity mining proposal has been clear and directive in support of the HBT-ETH Pool on the SushiSwap Platform.

The following Pool is eligible for HBT Rewards: HBT-ETH
Please make sure to always interact with the correct HBT Token.

The mechanism for the exact HBT distribution calculation will be released soon after the end of the first week after liquidity mining starts. Habitat will update the existing /LP page, so everyone can check his potential rewards. Anyone will be able to independently run the distribution calculations to make sure that they are correct.

Habitat will always give a chance for the community to raise any issues with the calculations and review them if necessary. Join our discord and look for the #🧼-liquidity channel.

🌱 Pool already seeded by the Genesis Team 🌱

The Habitat Genesis Team already supplied ≈30.000 USD in HBT-ETH to the pool on SushiSwap, taking over the role of the first-mover. There is a risk of Impermanent Loss when opening new pools, so the team hopes to encourage other LPs by taking on this risk for them.

Here you can see the transaction for seeding the HBT-ETH Pool

📡 Deposit HBT to the Habitat Rollup Bridge 📡

If you want to be part of the decentralized governance of Habitat you can start receiving HBTs by providing liquidity to the existing HBT-ETH pool and depositing it to the Habitat Rollup Bridge.

Always make sure to also deposit some HBT and top-up the gas tank, so you can transact on the rollup, deposit and exit your funds if necessary.

Here is how you deposit:

Navigate to the Habitat Mainnet App: Account Page
Select the option “Deposit” from the dropdown panel
Enter HBT and check the results (see picture below)
Choose the SLP-HBT-ETH and deposit, done!

🪁 Actual HBT Distribution 🪁

Liquidity mining of HBTs is going to start on September 8th, the actual distribution of HBT tokens is going to happen in the following epochs (weeks) on the Habitat Platform itself.

LPs will have to leave the SLP Token deposited on the Rollup until the reward epochs finish, otherwise they are not considered for the rewards which they accrued.

All HBTs will be distributed/claimed on the Habitat Rollup. Due to recent gas storms on the Mainnet, this mechanism is more cost-efficient. There will be another announcement with more details when tokens are ready to be distributed.

Please remember the withdrawal period of 7 days, when exiting funds from the Habitat Rollup to Ethereum L1.

Conclusion and Next Steps

Start receiving HBT governance tokens by providing liquidity to the existing SushiSwap pool and deposit it to the Habitat Rollup Bridge.

The program is running until the end of December and a total of 250.000 HBT is distributed among LPs - Happy farming!

Please let us know if you have any questions or suggestions on our discord channels.