We are very excited to announce our first inhouse LP (Liquidity Provider) Rewards program starting with our Uniswap v3 MFG-ETH pair! For our first campaign, we kept the dashboard clean & simple. Stay tuned for future dashboard enhancements & new campaigns.
IMPORTANT NOTE ON COMMUNICATION
All official information related to our LP Rewards campaigns will be posted on our official Blog (https://smartmfg.io/blog). Do NOT trust information from other unofficial sources.
LIQUIDITY ROADMAP
We are continuing to review and advance with a growing list of tasks & initiatives for our DeFi and liquidity roadmaps. Liquidity will play a key role in our forward-looking supply chain finance use cases, initiatives, and service offerings.
We greatly value our liquidity providers in helping support and grow our ecosystem. While most projects offer short term and/or unsustainable reward mechanisms, Smart MFG is in it for the long game. Our goal is to continually provide competitive reward mechanisms for the long foreseeable future to help boost and retain the loyalty of our LPs as we continue to further decentralize, develop, and expand.
Some key liquidity roadmap tasks include:
- Review and continue adding further features & enhancements to our LP Rewards dashboard
- Expanding campaigns for additional pairs across various DEX/AMM platforms
- Exploring liquidity partnership opportunities with forward looking supply chain organizations looking to digitally transform their supply chains with blockchain
- Exploring & planning L2 bridges across supported pairs (Uniswap v3, Uniswap v2, Sushiswap, etc)
LP REWARDS DETAILS
- DEX/AMM Platform: Uniswap v3
- Pair: MFG-ETH
- Liquidity Pair Ratio: 1:1
- Fee Tier: 1%
- Price Range: Full Range (Recommended) — Custom price ranges are optional and recommended for only advanced LP users
- Pool Address/ID: 0x3c8e1997d9f93c989d4d7660b6ca52c451ad7554
- Reward Distribution: 5,000,000 MFG Tokens
- Duration:
- Start: Friday, October 1, 2021 12:00:00 AM UTC
- End: Thursday, April 1, 2022 12:00:00 AM UTC
WHAT IS UNISWAP
Uniswap is the leading DEX platform which facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain using smart contracts. Uniswap v3 is the latest iteration of their DEX/AMM platform introducing several new features and enhancements.
While Uniswap is generally safe to use, we recommend all users to learn and familiarize themselves with how Uniswap works before performing any actions on it.
Uniswap’s decentralized and permissionless design means that any ERC20 token can be listed on Uniswap without any permissions required. As a result, there may/likely be token imposters posing as MFG using our logo and ticker.
Please ensure you are accessing the correct exchange contract for MFG. Our direct Uniswap v3 exchange contract(s) for MFG are below:
MFG-ETH: 0x3c8e1997d9f93c989d4d7660b6ca52c451ad7554
Direct Link: https://info.uniswap.org/#/pools/0x3c8e1997d9f93c989d4d7660b6ca52c451ad7554
Official release blog for Uniswap v3 below:
https://uniswap.org/blog/uniswap-v3/
DISCLAIMERS | CONSIDERATIONS
As an LP there are a few items to consider. Please read and review thoroughly.
Uniswap v3 Staking Contract
Smart MFG will be one of the early adopters of Uniswap v3’s staking contract. Even though the contracts have passed security reviews, they have not been battle-tested the same way as Uniswap v2 contracts.
Uniswap v3 Price Ranges
Unlike Uniswap v2, Uniswap v3 LP’s can concentrate their liquidity using custom price ranges, providing greater amounts of liquidity at desired prices. In doing so, LPs construct individualized price curves that reflect their own preferences. Custom price ranges are recommended for advanced LPs who have a full understanding in how they work & the risks associated with using them.
NOTE: LPs will NOT accumulate any rewards from fees or staking if the swaps and/or active price doesn’t fall within your custom range.
We recommend using the Full Range option over custom price ranges to minimize risk exposure.
You can find more information in the official Uniswap v3 announcement blog below (located under Concentrated Liquidity):
https://uniswap.org/blog/uniswap-v3/
No Reliable APY Calculator on Uniswap v3
Since the size & band of each staker can vary significantly on Uniswap v3, we cannot provide a reliable real-time APY on our LP Rewards dashboard page.
Impermanent Loss
Impermanent loss refers to a disparity in the price of your deposited assets. The larger the divergence, the greater the risk of impermanent loss. This is due to the nature of AMMs like Uniswap v2 which is to always maintain an equal value ratio of both assets in any given trading pair (in this case MFG & ETH).
For example, if ETH has an increase in value, it will readjust your position in MFG to maintain the same ratio, and if you withdraw your position, you will end up with a higher number of MFG tokens and a lower amount of ETH.
Transaction Fees
Due to the demand & congestion on the Ethereum network, high transaction fees are becoming a common occurrence. This can be quite disproportionate particularly when operating with smaller transactions. Please take the time to consider the fees before conducting operations on any DEX/AMM platform such as Uniswap v3. You can monitor and track the current Ethereum Gas below:
https://etherscan.io/gastracker
HOW TO ADD LIQUIDITY
ASSUMPTION #1: LPs are comfortable with using the Metamask web3 wallet
ASSUMPTION #2: LPs have their Metamask wallet already configured and connected prior to these next steps
1. Add liquidity to the MFG-ETH pair on Uniswap v3. Direct link below. Liquidity settings may look a bit overwhelming in Uniswap v3, but don’t worry we will walk you through each step.
https://app.uniswap.org/#/add/0x6710c63432a2de02954fc0f851db07146a6c0312/0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2/10000
2. Pairs should already be autofilled, so leave as is
3. Set the fee tier to 1%
4. Set your liquidity deposit amounts to the desired amount. You can either enter your desired MFG or ETH amount and the corresponding token will update automatically.
5. Custom price ranges are a new feature for Uniswap v3 for LPs who are looking to improve capital efficiency. Custom price ranges are optional and recommended for only advanced LP users. We recommend using the Full Range option over custom price ranges to minimize risk exposure and to ensure you are earning consistent rewards. You can find more information in the official Uniswap v3 announcement blog below (located under Concentrated Liquidity):
https://uniswap.org/blog/uniswap-v3/
Select I understand when prompted. Once liquidity has been added, you should now see your UNI-V3-POS (NFT) LP token under your Metamask wallet assets.
6. Select Preview
7. Select Add in the Add Liquidity window to finalize
NOTE: Always make sure to examine the fees prior to each Metamask confirmation
HOW TO STAKE
ASSUMPTION #1: Liquidity has already been added as per the prior steps
ASSUMPTION #2: Staking your UNI-V3-POS (NFT) LP token will be done on\after Friday, October 1, 2021 12:00:00 AM UTC. The staking function will return an error if performed prior.
1. Go to https://smartmfg.io and select the LP Rewards tab. LP Rewards dashboard will be published prior to Friday, October 1, 2021 12:00:00 AM UTC.
2. Connect your Metamask web3 wallet (if you haven’t not already)
3. Select Stake to stake your UNI-V3-POS (NFT) LP token
4. Confirm all 3 stages (Approve, Transfer & Stake) when prompted via Metamask
NOTE: Always make sure to examine the fees prior to each Metamask confirmation
5. You are now set! Accumulated rewards will appear in Pending Rewards
6. To unstake and claim your rewards, select WITHDRAW & confirm all 2 stages (Unstake & Withdraw) when prompted via Metamask
NOTE: Always make sure to examine the fees prior to each Metamask confirmation
7. Select CLAIM ACCRUED REWARDS & complete the final confirmation. You can proceed with either keeping or removing your liquidity on Uniswap v3.
NOTE: Always make sure to examine the fees prior to each Metamask confirmation
ABOUT SMART MFG
Smart MFG is a blockchain company focused on Industry 4.0 Digital Transformation and promoting new data mobilization technologies, including IIOT (Industrial Internet of Things) for use within the manufacturing industry. Smart MFG is launching a 2D & 3D model NFT marketplace for novelty & vintage Art & Architecture, Automotive, Space & Aerospace Engineering, Industrial Design and more. Smart MFG also offers Supply Chain DeFi programs using $MFG in partnership with a growing blockchain partnership ecosystem for Industry 4.0 digital transformation.
Smart MFG Tech promotes digital transformation of industrial manufacturing supply chains using blockchain as a key building block of Industry 4.0. MFG Tokens® incentivize collaboration and speed across supply chains and can be used to create custom rewards and compensate manufacturers for time and accuracy put into competitive tender bids.
The token integration use case applications in Manufacturing Supply Chains include digital record and digital asset tokenization, advanced supplier incentive programs and supply chain decentralized finance innovation. Supply Chain Companies interested in Smart MFG partnerships can submit your requests here: http://smartmfg.io/partners
JOIN THE COMMUNITY!
We welcome you to join the conversation and help the Smart MFG community decentralization push. This includes participating in discussions, and finding creative ways to improve community and network performance.
Let’s move forward together. The success of Smart MFG is in our hands!
Contribute to the Community Decentralization Drive https://smartmfg.io/community/
Interested in joining our team? Learn more! https://smartmfg.io/team/
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