How To Start Farming UBQ

How To Start Farming UBQ

 
Download and Install Metamask
Download and Install Metamask

1. Provide liquidity

To begin your journey with Ubiquity, you will need to provide liquidity to the system. We use a Curve Metapool for our primary market. When you provide liquidity, you will be issued liquidity provider (LP) tokens that serve as the proof of your investment.
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Before you start, make sure you have some Ether in your Metamask wallet to cover your "gas" fees -the fee to conduct any transaction on the Ethereum blockchain. You can send crypto to your wallet through exchanges like Coinbase or Binance. Nowadays, you can also buy ETH directly on MetaMask using Wyre, a financial payment service.
Head to the Ubiquity Dollar dashboard and click DEPOSIT for uAD. This will take you directly to Curve Metapool's user interface. You may also go to crv.to directly and search for uAD.
Connect your Metamask wallet to the Curve dApp. Once that is done, you can click the blue droplet (see below) to add liquidity to the uAD pool. You can use either DAI, USDT, or USDC. Add in your amount and click add liquidity. Approve your transaction on Metamask.
 
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Congratulations! You are now a liquidity provider and will receive LP tokens. It will show up as "uAD3CRV-f" in your Metamask.
When sending or receiving on any network, be patient, as it may take a while to show up in your account. It will eventually show up on here after the transaction has gone through sufficient amounts of confirmations on the blockchain.

2. Begin farming UBQ

Providing liquidity for uAD gets you rewards (see Notes). In addition, you can also get rewards for staking your LP tokens. This reward is in the form of Ubiquity Governance tokens (UBQ). Once you have your LP tokens, you can go back to the Ubiquity dashboard to stake your LP tokens.
You can choose a minimum of 1 week to a max of 208 weeks, or 4 years. The longer you stake, the higher the amplification of your rewards. See the details of this in the "Example Multipliers" table here.
Once again, make sure that your MetaMask wallet is connected, this time to the staking dashboard of Ubiquity. It will automatically compute the gas fee, approve it, and stake your LP tokens in the smart contract.
Once your transaction is confirmed on the Ethereum blockchain, your UBQ dashboard will show your staked amount under the pool ownership. As always, it is important to keep your cool and be patient. You’ll have to wait quite a bit. Then, after several minutes, refresh the page again, and it will typically show up. Usually, it does not take very long, but when the network is congested, it will take a while for everything to go through. Get some coffee while you wait!
If you're feeling antsy and worried, you can verify your transactions using Etherscan, the Ethereum blockchain explorer.
 
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Withdrawing your liquidity

Should you decide to withdraw your liquidity, you can do so when your lockup period is complete. Follow these steps to add the uAD token on Metamask:
  1. Open the Metamask extension and add the token under Assets.
  1. Select Custom Token. You can then enter the Token Contract Address to add the token to your wallet.
  1. Please use the token contract address from the website to make sure you have the correct token. It will automatically display the name of the token (uAD) under “name” and “18” under decimals. Click “Save” and you’re good to go!
  1. You can go back to Curve to withdraw your liquidity.
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uAD Contact Address: 0x0f644658510c95cb46955e55d7ba9dda9e9fbec6

Notes:

  • UBQ rewards are liquid, meaning that you can swap them at any time via Sushi.
  • uAD is added to your share of the pool when new uAD is minted (and all debt holders are paid out) so when you withdraw at the end you should have more uAD.
  • uCR NFT is if you burn uAD when the time-weighted average price (TWAP) is below 1.00.
If you have any questions, please let us know in the Discord.