Liquidity Mining Program and Match-making Process
The strength of any DEX is linked to the liquidity deposited into its pools. In order to show you that the love is mutual between you and Love Boat, we are honored to introduce you to our liquidity mining program.
Our community needs your help providing different cryptocurrency matches (liquidity pairings) to keep our pools liquid, and liquidity mining rewards give us an extra way of saying thank you for select matches. Not only do you capture passive income from the trading fees (0.25% of every trade goes to liquidity providers), but you will receive our LOVE tokens as additional rewards for the cryptocurrency matches that our community desires the most… which you can claim straight to your wallet!
How do I use the liquidity mining program?
Love Boat uses the liquidity mining program to incentivize our community to bring capital to the platform in the form of cryptocurrency matches (liquidity parings). The main goal of any DEX is to be liquid so that it can provide value to its users, and Love Boat rewards our users for bringing capital/matches to our platform with LOVE tokens.
The Rewards section on the site will display all the active pools within the protocol. The pools for any given match will display standard information — the total deposits into that pool (USD), total rewards from that pool (USD), the pool rate distributed across all community members depositing into that pool (LOVE token/day), fees accrued from trades on Love Boat in a 24-hour period (USD), as well as the rewards plus the fee APY (%).
Timers designated to each pool indicate the time left for the current rewards period and when the next rewards period will begin. Once you deposit your matches in any one of our pools, you’ll be able to see the number of LOVE tokens that you’ll be earning per day which is based on what percentage of the pool you hold. This allocation is calculated by taking the number of matches (or liquidity provider tokens) that you have deposited into the pool divided by the total supply of matches deposited into that specific pool by the community at large.
The Pool section on the website will show all the liquidity pools that the user is currently depositing into, showing a breakdown of the total number of each token the match consists of. Note this will change, and Impermanent Loss can be incurred, which is a risk of creating a liquidity pairing.
Match-making Process
The match-making process is simply Love Boat’s protocol/cryptocurrency signup process for getting onboarded into our liquidity mining program. If approved after applying, we will match protocols with a great liquidity pairing and get started on liquidity farming. We encourage any protocol to apply — this process ensures that we are getting the best potential projects with amazing pairings. After getting established through this process, the match will be active within the liquidity mining program. The goal is to decentralize the process of approving matches; the team will initially handle discovering valued matches and this responsibility will be transitioned to LOVE token holders through our community governance process. We are actively thinking and working on solutions to robustly handle this.
Other things to note
Please note, our decentralized exchange is deployed on Polygon and you will need $MATIC for transactions. Fortunately, Polygon’s token is relatively inexpensive, and 1 token will last you a long time.
Definitions
Matches: Token pair, liquidity provider token
DISCLAIMER — Please note, all contract addresses will be shared at deployment. Please make sure that you’re using the correct contract addresses from our official channels. All vesting contracts will be verified on blockchain explorers so our token emissions and usage are completely transparent.
Need more info? Check out these articles
Stablecoin LP | Innovative Farming| LOVE LP | Tokenomics |Intro
Love Crew Member Onboarding
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