Introducing the GoodDollar Liquidity Rewards Program on FuseSwap

GoodDollarHQ GoodDollarHQ

Now there’s a way to use your GoodDollars to earn rewards. 

Introducing the GoodDollar Liquidity Rewards Programs on FuseSwap. GoodDollar and Fuse are rewarding liquidity providers in the new liquidity mining program on the Fuse network, which is going live this weekend on FuseSwap,

Programs Starting: Saturday, April 17th at 3 pm UTC
Duration: 3 months
Liquidity Pool: G$/USDC
Total Rewards:  75,000 FUSE (25,000 FUSE per month)
DEX: FuseSwap
Platform: Fuse Network

BTW, if you’re wondering what liquidity pools are, check out this great overview from Binance Academy.

How does it work?

The teams at Fuse and GoodDollar are happy to introduce a new liquidity mining program to reward G$/USDC Liquidity Providers (LPs) on FuseSwap. A total of 75,000 FUSE will be allocated in rewards for network participants over the next 3 months.

By incentivizing GoodDollar LPs with rewards, we aim to increase liquidity on FuseSwap for the leading digital basic income asset, allowing early project supporters to begin to put their G$s to work and earn rewards. A deepened G$/USDC pool also serves to benefit the larger GoodDollar community of over 200,000 members worldwide, simply by making G$ a more widely liquid asset. 

In addition to the 0.3% trading fee commissions earned via FuseSwap, LPs will also earn their share of the 25,000 FUSE tokens allocated to the relevant pool, distributed proportionally based on how much is contributed to the pool.

I’m in. How do I participate?

A quick guide on how to participate in the GoodDollar Liquidity Rewards Program on FuseSwap:

  1. Transfer your USDC from Ethereum Network to Fuse Network via the bridge on FuseSwap (if needed). You will need to have an equal value of both G$ and USDC tokens.
  1. Provide liquidity on the G$/USDC pool here .
  1. Head to rewards.fuse.io and locate the relevant LP program under “Fusewap Rewards”. Deposit LP tokens starting Saturday, 10th April at 3 pm UTC.
  2.  You will receive your rewards at the end of the program when you withdraw your LP tokens and “claim”.

More information…

APY is constantly changing as more people participate and new liquidity is added.

For those purchasing USDC tokens and transferring them to Fuse Network using the bridge, it can be helpful to track gas fees to try and find the optimal time to make these transactions. At the time of writing, average gas fees are around 139 gwei.

A tutorial is available here on how to:

  1. Bridge assets from Ethereum to Fuse Network.
  2. Add liquidity on FuseSwap.
  3. Deposit LP tokens to receive rewards in FUSE token.

More information on bridging assets and adding liquidity can also be found in Fuse’s documentation.

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