What kind of rewards can one anticipate from taking part in the ZoidPay farms?
As previously mentioned, there will be two farms, one rewarding with WAND and the other with ZPAY.
Farm ZPAY
Earn an APY of up to 30% by providing liquidity for the ZPAY-EGLD pair on xExchange. The maximum payout on this farm is 3M ZPAY.
Here is a look at the ZPAY Farm’s tier-based reward structure.
Get a 30% APY for the first month.
Earn 20% APY for the following month.
Earn 15% APY starting in the third month.
Farm WAND
Earn an APY of up to 1500% by lending liquidity on the xExchange pair ZPAY-EGLD. The maximum rewards on this farm are 20 billion WAND. 20% of the WAND token’s total supply is represented by this.
Here is a look at the WAND Farm’s tier-based reward structure.
Spend up to $23000 ZPAY and receive a 100% APY.
Spend more than 23000 ZPAY and up to 225,000 ZPAY: Earn a 300% APY.
Beyond 225,000 ZPAY up to 420,000 ZPAY commitment: Earn a 700% APY.
Over 420,000 ZPAY commitment: Earn a 1500% APY.
Please take note that the figures reflect the full value of all contributions made to the Liquidity Pool. Therefore, 11500 ZPAY (as is) and 11500 ZPAY, in 23000 ZPAY for example, represents 11500 ZPAY (as is) and 11500 ZPAY, in the form of EGLD. Making up 50:50 ratio contribution to the LP.
Note: The annual percentage yield (APY) listed on the Farming program is an estimate of the possible annual percentage yield that you may earn over the course of a year. Based on program participation and other variables, the APY will change.
Can I increase these rewards with my Zoidster NFTs?
Naturally, a feature allowing you to stake your Zoidster NFT to increase farming returns will be available shortly after the farms launch. You can increase the APYs on the ZPAY or WAND farm you’re taking part in by up to 50% by using a Zoidster NFT. Epoch 2 is here; welcome!
So, let’s say you are earning an APY of 1500%; by adding a Zoidster NFT, you can increase your APY to 2250%.
Please take note that this feature will go live a few weeks after the farms are first made available on February 1st.
Our genesis collection, the Zoidsters, consists of just 1001 NFTs in total. Understand more about them here.
Are there any extra advantages to taking part in the ZoidPay farms?
Up until the end of the first month following the launch, participants can expect the following additional benefits.
Every participant in the farms will receive a guaranteed ticket to the upcoming WAND token sale.
For our upcoming NFT collection, which is scheduled for this year, every participant in the farms earns a spot on the whitelist. If you haven’t seen our first, which was released last year, take a look at this.
Once the farms are live, each participant will receive their own unique ZoidPay debit card.
What are the lock-ins and unbonding periods on the farms, then?
The LP token (ZPAYWEGLDLP) committed determines how much you participate in farming. In the following query, more information will be provided.
Your LP token will be locked for 30 days in both farms. There is a 10-day unbonding period following this.
Only after a full year has passed can rewards be fully unlocked. After the first six months are up, you will be able to unlock rewards earlier if you so choose. However, any rewards unlocked earlier than a year will be reduced by half, and the remainder of your rewards may be forfeited. As a result, any rewards unlocked between six and twelve months will only be worth half as much as those actually earned.
Rewards unlocked earlier than six months are completely lost.
What steps must be taken to participate in the farms?
In the beginning, choose which of the two farms you want to work on. The option to take part in either or both is available, of course.
In order to participate as a liquidity provider, you must make equal contributions in two different tokens, in this case ZPAY and EGLD. As a result, make sure you have an equal number of ZPAY and EGLD. As a result, suppose you want to commit $1000 in investments to the liquidity pool. Tokens for ZPAY and EGLD total 500 dollars each.
(Note: xExchange, MEXC, and BitMart all sell ZPAY tokens.).
Go to the ZPAY-EGLD pair’s “Add Liquidity” section on the xExchange website.
After making a commitment to the liquidity pool, you will receive LP (Liquidity Pool or Liquidity Provider) tokens, which serve as evidence of your share of participation in the pool. The LP tokens that will be given out in this situation are ZPAYWEGLDLP.
the stake, after that. zoidpay . com and use the ZPAYWEGLDLP tokens you received to stake them in the ZoidPay farms to earn rewards in ZPAY or WAND.
Finally, here is something for our Shopping Pool Owners (SPOs).
Based on the following, each SPO will receive an equal share of the rewards (20B WAND and 3M ZPAY).
1% of the rewards received from current ZPAY-EGLD liquidity pool members.
10% of the benefits from new ZPAY-EGLD liquidity pool contributors (new includes all contributors who provide liquidity after this announcement has been made).
I wish you luck in farming.
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