Orion Protocol's ORN has launched its first official liquidity mining program via Uniswap. Join now.
Orion Protocol has launched a liquidity provider program on Uniswap to provide a decentralized alternative to its existing multi-exchange pre-staking initiative.
The program will reward ORN Liquidity Providers (LPs) on Uniswap with up to 150,000 ORN per month for ORN/ETH. This reward amount will be distributed proportionally to the amount of liquidity each person provides, therefore the APR per person will depend on how many LPs participate.
Orion Protocol has implemented a time-based reward system to further incentivize long term liquidity providing via a 'bonus pool'. 80% will be distributed proportionally to all LPs who commit liquidity to Uniswap, while 20% of LP rewards are reserved for those who have continuously provided liquidity for the previous month, starting from the 16th of October.
Orion Protocol will calculate this additional incentive based on the minimum amount of liquidity that each person provided in the previous month. This program will remain in place for each subsequent month, therefore rewarding long term LPs who continuously provide liquidity each month.
Pool rewards are calculated constantly by a smart contract and accrued rewards can be claimed at any time. Bonus pool rewards are proportional to the amount of time staked, and are paid out at the end of the reward period (30 days). The longer you provide liquidity for, the higher the rewards.
In light of recent occurrences, be wary of fake ORN tokens. Be sure to verify Orion Protocol (ORN)'s NEW official contract address: 0x0258f474786ddfd37abce6df6bbb1dd5dfc4434a
Start earning LP rewards.
Note the following official addresses:
ORN token: 0x0258F474786DdFd37ABCE6df6BBb1Dd5dfC4434a
ORN Staking contract: 0x1dE3877c9012824C9Acc39995647754b1fa9959f
ORN-ETH LP (Uniswap) token: 0x6C8b0Dee9E90EA9F790DA5DaF6f5B20D23B39689
1. Go to https://staking.orionprotocol.io
2. You will see the following interface
3. Click Manage and then "Add ORN-ETH liquidity":
4. You will be able to see your ETH and ORN balances. You will also be able to see the live rate for ORN to ETH (the amount of ORN that equals to 1 ETH).
Eg, at the time of this guide’s creation, it's 190.806 ORN for 1 ETH. You will be able to add liquidity in this proportion.
You can choose to add “MAX” or a portion of the ETH and ORN you have, but the proportion will remain 190.806 ORN for 1 ETH.
At the bottom, you are able to view your "pool share" in % and in each of the tokens. As per this example, depositing 1 ETH and 190.806 ORN would give 0.20% ownership of the pool.
At this rate of ownership, if daily trading fees are $1,000, you will earn $17.4 a day, split into 50% ETH and 50% ORN.
5. Once you have decided how much liquidity you want to add, you first need to click "Approve Uniswap" your ORN and then click the “Supply” button to proceed.
6. Your participation in the Uniswap pool will give you liquidity provider (LP) tokens. It will be visible in the "Manage page" at the bottom:
7. After you have some LP tokens you can stake them into Orion Liquidity Mining contract to receive rewards. Click "Deposit UNI-V2 LP Tokens" button and you'll see:
You can enter the amount of LP tokens to deposit or "MAX" to deposit all available tokens.
After you choose the amount of tokens you first "Approve" your LP tokens and then sign and submit a transaction.
8. Clicking "Manage" statistics shows you LP tokens deposited, your earned ORN, and your current reward rate per week according to the current total supply of the tokens.
Withdraw Liquidity from Staking
After you have provided liquidity, you are free to withdraw your ETH and ORN at any point.
1. Go to https://staking.orionprotocol.io/ -> Manage -> Withdraw
2. You will see the following display:
3. Now you can withdraw all staked LP tokens and claim earned ORN. Just press "Withdraw&Claim" buttons and sign and submit transaction.
4. After you have LP tokens in your wallet withdrawn from the staking contract, you can remove your liquidity from Uniswap ORN-ETH pool by exchanging LP tokens back to your ETH and ORN. Go to Uniswap pools: https://app.uniswap.org/#/pool
5. If you don't see ORN/ETH pool click "Import it"
Enter ORN tokens address: 0x0258f474786ddfd37abce6df6bbb1dd5dfc4434a ans select ORN token.
6. Now you can see ORN/ETH pool, your share and LP tokens, click "Manage this pool".
7. The back button will once again take you to the first link you visit, but this time, your participation in the pool will be visible.
8. Click on the “ORN/ETH” dropdown, and the following display will appear:
After you click the “remove” button, you will be asked to choose how much liquidity do you want to remove. After clicking "Approve" you will be able to remove your liquidity clicking "Remove" button.
9. "Confirm" your liquidity by signing and submitting a transaction to the blockchain.