So you just traded a whole lot of PLOT in exchange for ETH from Uniswap, that’s amazing! But, what to do now? You can…
Provide Liquidity on Uniswap & farm more PLOT tokens. Learn more here.
Create Markets to claim more PLOT. Learn more here.
Participate in Prediction Markets on PlotX with only 0.05% fee when paid in PLOT, instead of 0.1% fee when paid in ETH. Learn more here.
Stake PLOT and then participate in predictions, to multiply your reward chances. Learn more here.
Participate in on-chain governance using PLOT. Learn more here.
This guide is for all those who wish the explore the very first option. So, without any further ado, let’s see how you can use your PLOT to farm even more PLOT as rewards.
To farm more PLOT tokens, you can provide liquidity on Uniswap on the PLOT-ETH pair. In return, you will receive Uniswap LP tokens. You will have to stake these LP tokens on PlotX Staking Contract.
Now, you will receive yield in the form of PLOT tokens every second, till the time your LP tokens are staked on PlotX Staking Contract. You can claim your PLOT rewards anytime without exiting the liquidity pool.
If you wish to exit, you can withdraw your staked LP tokens from PlotX anytime to wind-up your farm.
The extended liquidity mining program will be live from 11th Jan to 11th May'21 with 8,000 PLOT tokens to be distributed as rewards daily.
Read more about the PlotX Liquidity Mining program here.
This is kind of obvious but to be able to provide liquidity in a PLOT-ETH pool, you need to have some PLOT first. Buying PLOT basically means swapping your ETH against PLOT from the verified pool on Uniswap (only use the pool that is verified by the PlotX team). You can either go to the verified Uniswap pool by clicking here or you can also navigate to the pool through the Liquidity Mining UI as seen here:
Go to the PLOT-ETH pool on Uniswap. DO NOT trust any other address other than the one mentioned here: https://app.uniswap.org/#/add/ETH/0x72F020f8f3E8fd9382705723Cd26380f8D0c66Bb
To provide liquidity, you will have to provide an equal value of ETH and PLOT to the pool. So for example, if you want to provide $50 liquidity to the pool, then you will need to deposit $50 worth of ETH as well as $50 worth of PLOT.
After you have successfully provided liquidity to the PLOT-ETH pool, you will receive a certain amount of Uniswap LP (Liquidity Provider) tokens that represents your share in the PLOT-ETH pool on Uniswap.
To have a more in-depth look at how liquidity providing works on Uniswap, please refer to this guide.
Since you were already farming $PLOT, you'll need to withdraw your Uniswap LP tokens from the "UWETH/PLOT (Nov-Jan'21)" pool first in order to migrate to the new 120 days farm.
You can go to liquidity.plotx.io and withdraw your UWETH/PLOT Liquidity Provider tokens from the “UWETH/PLOT (Nov-Jan’21)” farm.
Note that this will also automatically withdraw your farmed PLOT.
Now that you have acquired PLOT-ETH Uniswap LP tokens, you can farm more PLOT for yourself by depositing these LP tokens with the PlotX Staking Contracts using the Plotx Liquidity Mining UI.
Go to liquidity.plotx.io, connect your wallet which has the Uniswap LP tokens stored within it.
Click on the "Deposit" button of the second farm, that is, the "UWETH/PLOT (Jan-May'21)" farm and you will be able to see a screen like this:
As you can see, the UI is divided into three main sections, namely Deposit, Withdraw, and Stats. The section names are pretty self-explanatory.
By default, the Deposit section is opened. You can deposit all or a part of your Uniswap LP tokens by simply entering the amount of tokens you wanna deposit in the ‘Enter Amount’ field.
Afterwards, your estimated rewards until the end of the program will be automatically calculated (based on the current state) and displayed in the ‘Your Estimated Rewards’ field.
Then, you need to approve the deposit of the specified amount.
After the transaction is successful, the ‘Approve’ button will change to the ‘Deposit’ button.
Just click on ‘Deposit’ and that will initiate the deposit transaction.
Click on confirm and viola! You have now successfully deposited the entered amount of Uniswap LP tokens with the PlotX Staking Contracts!
After you have successfully deposited your LP tokens, the same will be reflected in the ‘Your Deposits’ field. And since rewards are distributed in the form of PLOT every second, soon, you will start noticing a change in the ‘Accrued Rewards’ field as well.
To learn more about how the rewards are calculated and distributed, please click here.
After you provide the Uniswap LP tokens, you will start accruing rewards every second. This means that when you want to withdraw the liquidity, you have to make a choice - do you want to withdraw your Uniswap LP tokens, or just the rewarded PLOT?
If you want to withdraw just the rewarded PLOT, then, you can simply click the ‘Claim PLOTs’ button, and that will initiate the transaction for withdrawing your rewarded PLOT.
Afterwards, just confirm the transaction and you will get your PLOT in your connected wallet.
Withdrawing all or any part of your provided liquidity will also withdraw all your accrued rewards till that moment in time. As there is no minimum staking time for the LP tokens, you can withdraw these tokens anytime you want.
You can withdraw all or a part of your provided liquidity by simply entering the amount of Uniswap LP tokens you want to withdraw, and then hitting the ‘Withdraw’ button. Afterwards, just click confirm on the initiated transactions and you’re good to go!
Your deposited LP token balance and total accrued rewards are showcased above section toggler.
The 'Your Deposits' indicates the amount of Uniswap LP tokens you have deposited with the PlotX Staking Smart Contract.
The 'Accrued Rewards' indicates the total PLOT rewarded against your LP token deposition till date.
The 'APY' indicates your Annual Percentage Yield based on your deposits and your rewards.
You can look at the number of rewarded PLOTs available for you to claim and the number of rewarded PLOTs already claimed in the 'Withdraw' section.
Clicking on the Stats toggle opens the global stats page. Here you can look at 6 pieces of information that define the status of the entire liquidity mining program.
Total Rewards are the total $PLOT to be rewarded during the program duration.
Total Deposits are the total LP tokens deposited across all participants.
Locked Rewards are the amount of $PLOTs yet to be rewarded in the program.
Unlocked Rewards are the amount of $PLOT already rewarded to the LP token depositors.
Program Duration is the time left for the program.
Reward Unlock Rate is the amount $PLOT released per day as rewards during the program.
…and that’s a wrap! Stay safe and DO NOT trust any information that isn't coming from the official announcement channels of PlotX. Also, don’t forget to join our channels on Discord and Telegram to join other PLOT Heads, such as yourself, in conversations around PlotX and crypto-prediction in general.