MilkySwap Farming
We’ve been extremely delighted with the amount of interest that has been garnered for MilkySwap over the past couple of weeks.
We are working hard to ensure that our earliest contributors are rewarded and that their work does not go unrewarded. We’ve been working diligently on building a DEX that you, the community, will have control over. Farming on MilkySwap is designed in a way that gives power to the community.
MilkySwap applies tried-and-tested farming models and combines them to provide an efficient farming mechanism that everyone can benefit from. It combines the best of SushiSwap’s and CurveDAO’s farming models, providing us the flexibility of SushiSwap’s emissions, with the powerful veCRV locking system of CurveDAO.
$MILKY Tokens
You can farm $MILKY tokens by staking your LP tokens with MasterMilker — he is the master of $MILKY! The $MILKY token can be freely traded, transferred, and swapped on the open market. While we are using the $MILKY token for farming rewards, we took a page from CurveDAO’s extremely successful veCRV locking system and decided to create a governance token that will play an important role in the future.
Farming Tutorial
Farming on MilkySwap will seem very familiar to everyone. Like other protocols, you will need to begin by providing liquidity to a particular token pair
After providing liquidity, you will receive LP tokens — these are essentially a receipt to keep track of how much of the pool you own. By simply holding these LP tokens, you will earn the .25% fee on all trades in that pool.
Let’s assume you have a LP tokens for the USDC/wADA pool. You can start farming $MILKY by going to the /farm/ page, selecting the USDC/wADA farm, and following the prompts to stake your LP tokens. And that’s it! You are now farming $MILKY, which you can harvest at any time. You can also unstake at any time, with no penalties.
Our farming mechanism can be easily accessed on our testnet at Milkyswap.exchange. For more information regarding on how to setup our testnet, you can view our tutorial on our Gitbook.
Second Airdrop
With this in mind, we would like to announce our second airdrop!
Anyone that completes the process to farm tokens on testnet will be eligible for an airdrop! Start by providing liquidity for a pair, and then stake your LP tokens on the /farm/ page, and you will receive an airdrop at the time of MilkySwap TGE.
The first 2500 addresses that provide liquidity and farm $MILKY on the testnet are eligible for our second airdrop!
