Today we launch Nectar Beehive V1 – a liquidity mining program for the DeversiFi Nectar token (NEC) with the goal of bootstrapping community and liquidity in our ecosystem. 🟠 Rewards = 10 MILLION NEC tokens ($2m USD) 🟠 Participating in Nectar Beehive is super easy, efficient and yields tasty high-APY $NEC and $BAL rewards. Read the details below 👇
1/ ALPHA leak! 🚨 $2M rewards available 🚨
Provide liquidity on Nectar Beehive (V1) — a reward program to earn sweet DeversiFi Nectar ($NEC) tokens 🐝🐝🐝
Reward pool = 10m NEC 🍯 (2m USD)
Current APYs:
🟠 1039-2309% NEC
🟠 22% BALEarn your share: https://t.co/NSehegm4kr pic.twitter.com/NjnYJ8D2JU
— DeversiFi (@deversifi) December 1, 2020
tl;dr
- For the next 12 weeks, earn NEC & BAL tokens by staking liquidity into the NEC/wETH Balancer pool. Multiply your earnings up to 2x in NEC by also trading on the high-speed DeversiFi DEX.
- Inspired by Synthetix, NEC rewards are issued on a weekly basis and vested for 12 months at a time, incentivising longer-term stakeholders and liquidity providers
- Engaging with Nectar Beehive V1 is safe and secure. You will be depositing liquidity to the battle-tested Balancer protocol & trading on the Peck Shield-audited DeversiFi exchange that has been operating on mainnet for 6 months.
- NEC is an independent deflationary token, which has synergies with the DeversiFi ecosystem. Holders have voting rights in Nectar DAO and (soon) get DeversiFi trading fee discounts, up to 50% of DeversiFi trading fees are used to burn NEC tokens in weekly transparent auctions
- Notable supporters of NEC are ParaFi Capital, D1 Ventures, BR Capital, Bitfinex and others
- Beehive Interface 🟠 Beehive Knowledge Base 🟠 Beehive Discord
What Is Nectar Beehive?
Funny story. Nectar was actually one of the first liquidity mining tokens launched back in 2017. It rewarded liquidity providers of Ethfinex with Nectar tokens. Just like today, these tokens were used for exchange governance and Ethfinex even launched a Kleros-based community token vote (giving traders the final say on what was listed).
Over the last several months, the liquidity mining concept has been well and truly validated. We’ve seen many promising projects prove the utility while rapidly expanding their ecosystems. Now, symbolising a return to Nectar’s original use-case, the Nectar Beehive will reward its community for the value they bring to the Nectar ecosystem, as well as to DeversiFi.
This isn’t another veggie-meme yield-farm, and we’re not in this for the short-haul. Beehive has been carefully designed to drive long-term Nectar value. We’ve observed the various models that have recently emerged, taken note and have incorporated the best elements of each into Nectar Beehive V1.
Core outcomes of Nectar Beehive V1 will be to:
- Boost Awareness of the Nectar Ecosystem 📈
- Boost Nectar Liquidity, Volume and On-chain Users 📈
- Encourage DeFi traders to use the high-speed DeversiFi L2 DEX for their trading needs 📈Nectar Beehive V1 Breakdown
How to Earn Step-by-Step
We designed Nectar Beehive V1 with simplicity in mind. V1 is an easy way to add value to the DeversiFi ecosystem while earning both NEC and BAL returns. Below is a high-level overview of how to start earning today.
- You will need to own NEC and/or ETH to add liquidity to Balancer. If you do not already own either, head to one of the exchanges listed here.
- Next, stake your NEC &/or ETH into the NEC/wETH Balancer pool. This will give you BPT tokens which represent your staked liquidity.
- All you need to do now is keep your BPT tokens in your address to earn NEC. Rewards will be vested for 12 months after each weekly reward period. Track your rewards here. From this liquidity provision, you will not only earn NEC but also BAL and Balancer trading fee revenue. Any BAL you earn will not be vested!
- To multiply your NEC earnings (up to 2x) head over to DeversiFi and begin trading. *You must ensure you are trading from the same wallet holding your BPT. A breakdown of volume thresholds to qualify for multipliers is visible in the walkthrough here or below.
- Kerching! 🤑 Claim your BAL rewards weekly (independent from DeversiFi/Nectar). And view your NEC rewards on a weekly basis and claim them after 12 months.
DeversiFi Multipliers
You can simply stake your NEC:ETH tokens into Balancer and earn NEC and BAL for doing so or you can DOUBLE UP and lay claim to a larger percentage of available rewards. We’re talking up to 2X what you would get by just staking into Balancer. This way, you also help contribute to the growth of DeversiFi and the subsequent NEC value that comes with that.
To make the most of this, you would simply head to DeversiFi and trade any pair using the same address you used to stake into Balancer. The amount of volume you do will determine your multiplier as shown below 👇
Useful Links & Resources
🟠 Nectar Beehive & DeversiFi Discord
See you at the APYary 😉
About DeversiFi
DeversiFi gives traders the edge in fast moving decentralised finance (DeFi) markets by allowing them to trade at lightning speed and with deep aggregated liquidity, directly from their privately owned cryptocurrency wallet.
Traders can take advantage of more trading opportunities while always preserving control of their assets for when they need to move fast. DeversiFi’s order-books are off-chain, but settlement occurs on the Ethereum blockchain. This means that traders benefit from fast moving order books and instant execution, without having to trust the exchange and whilst always maintaining control of their assets at all times.
For the first time, traders can enjoy all the benefits that they would expect from a legacy large centralised exchange, but with no exchange or counter-party risk.
