We’re happy to announce farming feature will be activated on the TomoChain version of LuaSwap on Tuesday, 20th April 2021.
LuaSwap farming on TomoChain allows liquidity providers to earn LUA tokens as farming rewards in addition to the trading fees contributed to the eligible pools. As of TomoChain’s block 34,466,888, farming rewards will be triggered. A total of 1,000,000 LUA rewards will be given to LPs among the qualified pools, distributed in 1 month from the moment of activation. Our team has estimated a block rate of 1,000,000 blocks per month corresponding to 1 LUA per block.
A total of 8 pools will be selected to receive the LUA reward on LuaSwap TomoChain every week, in about 4 weeks.
The initial set of pools that can earn LUA rewards in Week 1 is as follows::
The top 8 pools with the highest TVL at around noon SGT every Monday will be selected to receive LUA reward.
- We will collect data on TVL (total locked value) of each pool to recalculate LUA rewards (which is similar to the Golden Field mechanism on Ethereum). In theory, this mechanism should encourage LPs to reallocate between pools in order to reap the highest yield. The code for the new reward allocation will be deployed on Monday with a 24-hour timelock. The new reward ranking will be activated every Tuesday.
- Any pool/pair with less than 10,000USD in TVL will not be allowed to get farming rewards