GFI Migration & LP Rewards
LIVE NOW
We have been quietly working in the background throughout the holidays, building out the tracking of Gravity STARS and Gravity Sonic GEM points, updating the Dashboard and putting the finishing touches on the new Rewards page to ensure everything is ready for our big migration to Sonic!
We are excited to announce that the Gravity Finance GFI Token Migration from Polygon to Sonic is now live!
This article explains the migration process and rewards for providing liquidity, which is just one of many ways to earn Gravity STARS points/tokens over the coming months.
Full details on our rewarded programs can be found here.
Migration:
Using the updated Gravity Finance Dashboard, you can Migrate your GFI from Polygon to Sonic in two simple steps, using the built-in bridge, it’s super easy and extremely fast.
- Approve Token Spend
- Confirm Token Bridge
You will need to add GFI Token on Sonic to your wallet, the new contract address: 0xbf5899166ac476370b3117c9256b7fc45624f4ea
There is a 1 POL bridging fee when migrating GFI. This covers the entire cost of bridging on both sides. There is no additional claiming required on the Sonic side. Once you complete the two steps above, your tokens will appear in your Sonic token balances on the dashboard.
Rewards:
On the new Gravity Rewards page, you’ll be able to track your STARS and GEMS points;
Gravity STARS Points — Points earned for GFI activities:
- Migrating Tokens from Polygon to Sonic
- Providing Liquidity on Sonic
- Historically Owned GFI tokens on Polygon (includes xGFI Vault/LPs etc)
- and more to be added…
Gravity Sonic GEM Points — Points earned from using Gravity on Sonic:
- Create and fund Silo Manager
- Deploy and fund Silos / Hold active Silos
- Use Gravity Vaults
- and more to be added…
GFI Liquidity:
As part of our migration and our move to become Sonic native, new GFI liquidity pools have been created on the Equalizer DEX. These are the official pools which are eligible for an array of rewards/incentives as outlined below:
Note: Additional pools/pairs on other DEX partners may be added in the future.
Liquidity Provider Rewards
Providing liquidity in any of the above-mentioned pools instantly qualifies you to earn Sonic points as they all utilize an eligible token ($S, stS, USDC, wETH). When pairing with stS (Sonic LST), an additional boost is awarded.
Full details on the Sonic Points program can be found here.
Since Equalizer is also a Sonic Boom winner, further $S rewards will be issued to liquidity providers directly from Equalizer.
The exact details have not been announced by the Equalizer team yet but should be released soon.
Extra Extra
On top of Sonic Airdrop Points, we are also offering GFI liquidity providers with a large allocation of Gravity STAR Points/Tokens. This is the highest weight activity by far.
Taking it one step further, early liquidity providers who provide at least 250,000 GFI concentrated in one of the liquidity pools above in a single transaction, before block 3,000,000 and hold for 45 days, will earn a 2x Star Boost. This Boost will double ALL Star points earned from ALL activities.
More details can be found here.
You want more, you say? Sure why not…
When providing liquidity on Equalizer, you can also stake the LP tokens to earn additional rewards. The benefits/drawbacks of both options (staking or not staking) are outlined below.
Just holding LP tokens (not staking)
- LPs Earn 1% in trade fees.
- Trade Fees are claimed manually on the Rewards > Fees tab (paid in the paired tokens).
Staking LP tokens
- LPs do not earn the 1% trade fees when their LP tokens are staked.
- LPs Instead earn Equal (from emissions schedule) as voted by veEQUAL holders.
- Equal rewards are claimed manually on the Rewards > Farming tab
- The amount of Equal earned can be boosted with Bribes. The Gravity team plans on incentivizing with Gravity Stars and potentially other tokens later.
A couple of notes regarding Equalizer
- Trade Fees are not compounded back into the pool like older DEX models. As mentioned above, trade fees need to be claimed.
- When adding liquidity, your LP tokens are automatically staked. If you would prefer to not stake your LP tokens and instead earn the 1% trade fees, you must un-stake immediately after adding the liquidity.
- The APR from trade fees is not currently displayed on the UI. The APR displayed is for the Equal rewards earned from staking. The value displayed is an annualized return based on the current epoch only.
More Coming Soon…
In addition to Gravity STARS and Gravity Sonic GEMS points/rewards that can be earned through Gravity directly, we are also in talks with partners who won Sonic Boom allocations for Sonic GEMS for their projects to distribute to their users. Current talks include looking at how to reward and incentivise GFI use on the partners platforms.
We will share more specific information on this when plans are finalised.
Want to get involved with the Gravity Community, come and join our Discord server and make sure to follow us on Twitter to stay up to date with the latest announcements and news.
Links
Website: https://gravityfinance.io
Twitter: https://twitter.com/Gravity_Finance (@Gravity_Finance)
Discord: https://discord.gg/gfi
