Our trial run liquidity mining ARA on Gysr
👋 Hi there! Here’s information about our June 2021 test run on Gysr; It’s correct but history. You probably want to read about the full plan for Liquidity Mining ARA, here 😁
You can liquidity mine ARA now!
- Swap in Uniswap, SushiSwap, or MetaMask on mobile to get some ARA;
- pool that ARA with USDC in SushiSwap to get SLP;
- stake the SLP in Gysr to earn more ARA.
The Gysr will release 1 million ARA over 10 days, starting 2021 June 18 02:00 UTC, which is in a few hours.
This is a first real step to try this out together, as a community. After the 10 day duration, we plan to create additional Gysrs to reward the original Uniswap pool, as well as simply those who hodl ARA. We’ll fund them to decentralize the token with much larger amounts and longer durations, as described in our March announcement.
Contract Addresses and Links
2021 June 16 Community Announcement
Today, I’m pleased to share with you, our community, our first pools for liquidity mining ARA.
In January, the ARA/ETH pool on Uniswap created a bridge for the project to other tokens, and the world. We’re big fans of Uniswap v2, and have no plans to leave there. But also, as we’ve talked with people these last two months, as well as observed how other projects are setting up their liquidity mining/yield farming with available DeFi tools, it’s become apparent that there are two pretty big alternatives:
- USDC (instead of ETH); and
- SushiSwap (instead of Uniswap)
So we’ve made a new pool for this week’s trial where you can stake and swap ARA. It’s on SushiSwap, and ARA is paired with USDC:
This creates a second pool token, representing the ARA/USDC pair on SushiSwap, at the contract address:
A note on having two pools, on two platforms, paired with two different tokens: As we’ve investigated options to put this together, something we’ve put a lot of thought to is how to best balance choice with complexity. A good setup enables choice, but doesn’t contain so many options as to be complex (which can create FUD). So while we might have two options, pooling with ETH on Uniswap, or pooling with USDC on SushiSwap, we likely won’t do every possible combination.
Liquidity mining happens on Gysr:
It’s a Gysr v2 Fountain, so while you can use the GYSR token when staking, your rewards while staked should be predictable. It’s completely fine to not use (nor necessary to pay much attention to, I believe) the GYSR token at all. But determining that is a part of this test, too.
Ara is built by a community, and crypto is a community of communities, all building a decentralized future, together. In our exploration of options for a great DeFi setup for ARA, we feel really fortunate to have been introduced to the team at Gysr. We’ve found their version 2 product, released just days ago after passing audit, to be simple, powerful, useful and necessary — well positioned to solve a critical need of token decentralization that nearly all new projects face.
While we’re thinking of this as a test, it’s all on mainnet, and you earn real ARA. The Gysr will make 1 million ARA available over 10 days, starting in several hours. This rate may be similar to the rate of our actual, full liquidity mining setup when we launch that after this test.
So join us by getting ARA and USDC, pooling it in SushiSwap, and then staking your SLP tokens in the Gysr!
And most importantly, please share your experiences throughout with the rest of the community in our Telegram and Discord! A fair, equitable, and understandable liquidity mining setup will hugely help Ara as a project and ARA as a token. Decisions like how to set up liquidity mining a project gets to make just one time. We couldn’t do it without you.
And as always, have fun and stay safe!