Below, we introduce LON’s liquidity mining, and show you how to participate.
Tokenlon will start a one-year liquidity incentive plan, a total of 10,000,000 LON will be issued as liquidity pool incentives.
The first phase of liquidity mining will start on 2020.12.24 0:00 AM UTC and last for 28 days until 2021.1.21 0:00 AM UTC. A total of 1,500,000 LON will be awarded in this first phase.
During the period, you can stake Uniswap's LON/ETH LP tokens on the Tokenlon Dashboard to participate in the liquidity mining. The LON obtained can be claimed in real time. See the end of the article for the tutorial.
After the first phase of liquidity mining is over, the subsequent mining rules will be announced on the official Tokenlon channel.
Important Risk Warning
- LON token contract address:
0x0000000000095413afC295d19EDeb1Ad7B71c952 - Beware of scams!
- Liquidity mining may cause impermanent loss, learn more
- Tokenlon is not fund-raising; there is no token sales, everyone can participate in mining without any barriers
- Find Tokenlon official channels on https://tokenlon.im to get the latest information
Here is how to liquidity mine LON - step by step
Join the Uniswap LON/ETH liquidity pool:
- Open Uniswap or click “liquidity mining” in the LON DApp
- Click "LON/ETH", and then select "Add liquidity", enter the LON amount to be added to the liquidity pool, and click "Approve LON" to authorize the LON token from your wallet.
- After a successful authorization, select "Supply" and confirm, you can join the LON/ETH liquidity pool.
Tips：
1. Set the gas price as the fastest to avoid the transaction failures
2. If the transaction still fail with the fastest gas price, please set the slippage tolerance as shown below
- After the transaction is successful, find the "UNI V2" token in your wallet. This is the LP tokens of the LON/ETH liquidity pool.
Stake the received LP Tokens to start receiving LON rewards
- After entering the "Liquidity Mining" page, click "Stake"
- Enter the staking amount, and click "Approve" and then click "Stake"
- After successful staking, return to the previous page to see the current stake and LON reward
- Click "Claim" to transfer LON to your own wallet address
Note: Mining starts at 2020.12.24 0:00 AM UTC, you won’t get additional rewards by joining earlier.
Redeem LP tokens
- After entering the "Liquidity Mining" page, click "Unstake", enter the quantity and confirm
Exit the Uniswap pool
- Open Uniswap in imToken and click "Pool". After the page is loaded, click "Your Liquidity". When you see the added liquidity pool for LON/ETH pair, click to display the details of the liquidity pool;
- Click "Remove", then select the percentage to withdraw from the liquidity pool, and then click "Approve" to authorize
Note: If you need to completely exit, click "Max".
- After authorization, click "Remove" and confirm, you can exit the liquidity pool and get back the original tokens
