an Tapmydata introduces a 3 month liquidity mining campaign. Join now!
Let’s jump into this week with some exciting news! Alongside our exclusive staking program that will be launching soon, we’re thrilled to announce a new 3 month liquidity mining campaign!
The 2 following pools will participate in the liquidity mining program, which starts on March, 22:
- TAP/MATIC (SushiSwap for Polygon)
- TAP/ETH (Uniswap for Ethereum)
Under the new program,1,800,000 TAP / 300,000 TAP per month will be distributed among providers of liquidity to the above pools. The program will run for three months.
Continue reading to learn more about how liquidity mining can benefit you and how you can participate.
Why liquidity mining?
Liquidity mining is the process of staking the liquidity you add to the Tapmydata Uniswap and SushiSwap pools (either ETH pool or MATIC pool) and earning TAP rewards in return.
The primary benefits for LP providers are:
- Potential for high yields
- Distribution of governance and native tokens
- Low barrier to entry
We benefit from liquidity mining because it means our community is helping us by adding liquidity to our Uniswap and SushiSwap pools, and then staking that liquidity during the staking period. This helps maintain liquidity and reduce slippage, which can in turn increase trading activity.
The risk of impermanent loss
Before you start investing your crypto assets in liquidity pools you should also be aware of the possible risks it holds. Since digital assets are extremely volatile, liquidity mining also includes impermanent loss risks.
Impermanent loss happens when the price of the tokens that you’ve contributed to liquidity pools change compared to what it was when you invested. The price difference makes it more likely that you’ll encounter an impermanent loss. We try to make sure our rewards are big enough to cover any IL but we can’t guarantee it won’t happen. So it’s important for you to be aware of the possible risks before contributing to Tapmydata liquidity mining campaign.
Here are a few important things to remember before jumping into our liquidity page:
- Campaign start date: March 22, 2022
- Eligible token pairs: TAP/MATIC (SushiSwap) | TAP/ETH (Uniswap)
- Total reward pool: 1,800,000 TAP / 300,000 TAP per month each pool Rewards:
- The time period to contribute: 6 months
Make sure to join our Discord to gain access to the Liquidity channel https://discord.gg/7D9SXzpGRu
How to start liquidity mining?
To start mining, head to the https://tapmydata.com/liquidity-pool/. Follow the steps here.
Feel free to join the conversation on Telegram or Discord if you have any further questions. We will do our best to get back with a speedy response!
In our last community update, we announced that the Tapmydata team is ready to take on new challenges. So if you want a better idea of what’s coming up next for the project then check it out!