OneSwap Initial Mining Officially Goes Live. Yield Farming and Order Mining Rules Unveiled
Dear OneSwap users,
OneSwap will be officially launched on September 19, 2020 (UTC), and the initial mining event will run for 20 days.
The official rules are as follows:
Time: 0:00 September 19, 2020 to 24:00 October 8, 2020 (UTC)
Rules for participation:
1. Participation method: With yield farming and order mining available, OneSwap users can choose any trading pair on the whitelist for mining and gain ONES as a reward.
For the mining guide, please refer to https://support.oneswap.net
2. Available mining modes: Yield farming and order mining
3. Whitelist of trading pairs:
21 trading pairs, respectively, ONES/ETH、CET/ETH、UNI/ETH、ETH/USDT、ETH/USDC、LINK/ETH、ETH/DAI、WBTC/ETH、LEND/ETH、SNX/ETH、COMP/ETH、YFI/ETH、UMA/ETH、REN/ETH、LRC/ETH、YFII/ETH、TRADE/ETH、SWRV/ETH、CREAM/ETH、CRV/ETH、WNXM/ETH.
For yield farming, 20% of the total mining rewards will be allocated to ONES/ETH pool, and the other pools equally share the rest 80%. For order mining, all pools are taken as a whole without distinguishing between one from another.
4. Wallets supported:
OneSwap Wallet, MetaMask, Coinbase Wallet, ViaWallet, imToken, BitKeep, Bitpie, TokenPocket, Mykey, MathWallet, and other wallets that support Wallet Connect.
5. ONES allocation:
4,000,000 ONES, 4% of the total, will be equally allocated to yield farming and order mining during this initial mining stage lasting for 20 days, which translates to 200,000 ONES per day.
During the event, users participating in yield farming will share a total of 2,000,000 ONES (100,000 ONES per day) by rules;
During the event, users participating in order mining will share a total of 2,000,000 ONES (100,000 ONES per day) by rules.
6. Opening time for ONES
ONES/ETH pair will be created at 2 am, 18 September (UTC) with 750,000 ONES injected for liquidity. The initial price is 0.001 ETH.
Users participating in the OneSwap public beta will also be able to withdraw ONES at that time.
7. Revenue calculation:
User’s revenue per time unit = Liquidity provided by user / liquidity pool size * the number of ONES released from the pool per time unit (here we use “N”); N = the reward percentage of the pool * the total number of ONES released per time unit. The ONE/ETH pool accounts for 20% of the total ONES reward, and the remaining share the other 80%, that is, each pool accounts 4% at present.
For example: If the liquidity of ONES/ETH provided by the user is 2,000, the size of the pool is 2,000,000, the amount of ONES released per time unit is 200,000 and the pool accounts 20% of it, then the number of ONES that the user can obtain per time unit is 2,000 / 2,000,000 * 20% * 200,000 = 40 ONES.
(In this example, such factors as slippage, transaction losses, and fluctuations in token prices are ignored. It’s for reference only.)
User’s revenue per time unit = Value of user’s valid order / value of total valid orders of all 21 trading pairs * ONES released per time unit.
For example: If the value of user’s valid ONES/ETH order is 2,000, value of total valid orders of all 21 trading pairs is 50,000,000, and the amount of ONES released per time unit is 200,000, then the number of ONES that the user can obtain per time unit is 2,000 / 50,000,000 * 200,000 = 8 ONES.
8. Reward distribution: ONES rewards are settled and distributed once an hour.
About OneSwap: https://www.oneswap.net/
September 17, 2020