As discussed in a previous blog post, we’ve watched with fascination what happened the past few weeks on Uniswap, and more generally in the DeFi space and are excited to participate in this (r)evolution of capital markets.

To this end, we will start experimenting with our liquidity program from August 27th, 2020 10:00am UTC to September 26th, 2020 9:59am UTC.

At the end of this 30-day period, we will distribute 2,000,000 $LGO tokens as a reward to liquidity providers for the LGO/ETH pool on Uniswap V2.

The tokens distributed through the liquidity rewards program will be taken from our $LGO Token incentive pool, which contains a bit more than 20,000,000 $LGOs. If this initial experiment is successful, we expect to further incentivize liquidity providers on the $LGO token, with more tokens, more liquidity pools and for a longer period of time. As a measure of success, we will look closely at the evolution of available liquidity on the LGO/ETH Uniswap v2 pool and more particularly its depth and sustainability.

If the $LGO liquidity rewards program is successful, we will look into extending the utility of the $LGO token and developing DeFi services for $LGO token holders.

How it works:

To stake and begin earning $LGO token as liquidity rewards, follow these steps:

  1. Provide liquidity to the LGO/ETH pool on Uniswap V2, which is accessible here.
  2. By providing liquidity, you will receive UNI-V2 (UNI) tokens representing the tokens and the liquidity you have brought to the pool.
  3. Visit https://liquidity.lgo.group with the UNI tokens you just earned, and enter the amount of UNI tokens you want to stake.
  4. Now that your UNI tokens are staked, relax and earn your $LGO token rewards.

Important points on rewards distribution:

  • $LGO rewards will be distributed based on UNI tokens actually staked on https://liquidity.lgo.group. If you provide liquidity to the LGO/ETH pool but do not stake your UNI tokens, you will not receive $LGO rewards.
  • $LGO tokens will be distributed based on each address' percentage of the total amount of UNI staked in the rewards contract.
  • The amount of $LGO rewards paid out is proportional to the balance of each address and time staked.
  • Users will have to claim rewards or withdraw their UNI on liquidity.lgo.group to get rewards.
  • Rewards will start being computed on August 27th, 2020 10:00am UTC.
  • Do NOT provide liquidity incentives to the following pool, which contains the deprecated $LGO token, which was migrated to a new version in 2019.

About LGO

LGO is the leading Bitcoin spot exchange for institutions. Live since April 2019, they are trusted by over 60 institutional counterparties across 15 countries. With a boutique approach, they provide a suite of fully customizable services, best in class technology, and deep liquidity. For more information please visit https://lgo.group.

The LGO Token is not available in the United States or other prohibited jurisdictions. If you are located in, incorporated or otherwise established in, or a resident of the United States of America, you are not permitted to transact in LGO Tokens.

LGO makes no representation or warranty that the LGO Token or the liquidity mining program is appropriate for use in all locations, or that the transactions and services related to the Token are available or appropriate for entry into or use in all jurisdictions or by all parties. LGO is not responsible for legal or tax consequences to you of transacting in LGO Tokens or participating in the liquidity mining program. You should inform yourself as to the legal requirements and tax consequences of transacting in the LGO Token and participating in the liquidity mining program. By participating, you represent that your purchase or participation complies with local laws and regulations and you fully understand the risks associated with such transaction.