Splinterlands is extremely excited to announce that the Dark Energy Crystals (DEC) token now has a Uniswap pool where it can be traded for Ether (ETH) tokens. Even more importantly, DEC holders can use their tokens to add liquidity to the pool and earn some awesome rewards!
3,000 plots of land from the upcoming Splinterlands land sale have been set aside as rewards for Uniswap DEC liquidity providers. That's $60,000 worth of land at full retail price!
On top of that, Splinterlands will be holding a massive raffle in conjunction with the land presale event where participants in the presale will earn one raffle ticket for each dollar spent. More details about the raffle will come out with the announcement of the land presale, but for now just know that there will be tons of great prizes from gold foil legendary cards to legendary plots of land, to the grand prize of an entire land Region (1,000 plots) worth $15,000!
In addition to the 3,000 plots of land, 100,000 raffle tickets will also be set aside as rewards for Uniswap DEC liquidity providers. The raffle tickets will be fungible tokens that can be transferred and traded on third party markets before the raffle prize drawing takes place.
To kick things off, Splinterlands has provided ~$50,000 of liquidity to the pool (~$25k in DEC and ~$25k in ETH), but the liquidity provided by Splinterlands will NOT be eligible for the rewards - those will all go to the players who participate!
The link to the ETH/DEC Uniswap pool is: https://uniswap.info/token/0x9393fdc77090f31c7db989390d43f454b1a6e7f3
For anyone who is interested in more details about how Uniswap works, you can check out a great overview on their website here: https://uniswap.org/docs/v2/protocol-overview/how-uniswap-works/
In order to participate, you will need to provide liquidity to the DEC/ETH Uniswap pool. Providing liquidity requires you to commit an equal dollar amount of DEC tokens and ETH tokens to the pool.
The first step is to transfer the DEC tokens you want to provide to the pool to your Ethereum wallet. This can be done through the Splinterlands website by following these steps:
Please note that there is a fee of 1000 DEC tokens for each transfer to an Ethereum wallet. This fee covers the Ethereum network gas cost for the transaction. The 1000 DEC token fee will be deducted from the amount you transfer out, so if you transfer 5000 DEC then you will receive 4000 in your Ethereum wallet and the other 1000 will be deducted for the fee.
Now that you have your DEC tokens in your Ethereum wallet, you will also need to have an equal dollar amount of Ether (ETH) tokens in your wallet in order to provide liquidity to the pool. You can acquire ETH tokens from various cryptocurrency exchanges such as Coinbase, Gemini, Binance, Bittrex, and many more.
You can then provide liquidity to the pool by following these steps:
That's it! You have now provided liquidity to the DEC/ETH pool on Uniswap and will start earning your rewards!
You can also remove the liquidity you have provided to the pool at any time and get your DEC and ETH back using the URL below. You may get more DEC and less ETH back than you put in, or vice versa, depending on how much DEC/ETH has been swapped while you were a liquidity provider. You'll also receive your LP rewards from Uniswap which is a small percentage of all swap fees while you provided liquidity to the pool!
Remove Liquidity: https://app.uniswap.org/#/remove/0x9393fdc77090F31c7db989390D43F454B1A6E7F3/ETH
In order to calculate the rewards that each liquidity provider will receive, we will be taking a snapshot of the pool every day for three months (90 days) and using them to determine the percentage of the total liquidity pool provided by each Ethereum wallet address. 1,000 land plots will be distributed every 30 days based on each participant's percentage of the total pool during that period.
For example, if the total liquidity pool size is $100,000 ($50k in DEC and $50 in ETH) over the 30 days, then we first have to subtract the Splinterlands portion (which is $50k) meaning the pool size for calculating rewards will be $50k. If a player has contributed $5k to the pool ($2.5k in DEC and $2.5k in ETH) over the course of the 30 days, then they will make up 10% of the total liquidity pool and will receive 100 plots of land (10% of 1000 land plots each 30 days).
In the above example, the player has committed $5,000 to the liquidity pool for 30 days and received 100 plots of land valued at $2,000 giving them a 40% return in a single month! On top of that, if they leave their tokens in the pool they can continue to earn more free land plots for the following two months until the promotion ends!
But that's not all...at the end of the full 90 day Uniswap promotion the 100,000 raffle tickets will also be given out to all liquidity providers who participated based on their share of the total pool over the 90 day period!
Each participant's contribution to the pool over the 30 day period will be rounded down to the nearest tenth of a percent (0.1%) for land plots, and rounded down to the nearest thousandth of a percent (0.001%) over the full 90 day period for the raffle tickets. Please note that the actual returns and number of land plots received will depend on the total size of the liquidity pool during the period.
At the end of each of the 30 day periods there will be an option on the Splinterlands website for participants to claim their rewards. Claiming the rewards will require signing a message with the private keys of the Ethereum wallet that has provided liquidity to the pool over the past 30 days. If that sounds complicated, don't worry - there will just be a simple button to press which will pop up a Metamask window (or web3 Ethereum wallet of your choice) that will allow you to sign the message and get your rewards.
Of course, the whole purpose of providing liquidity is to allow people to trade between ETH and DEC. If you want to sell your DEC tokens directly for ETH, or if you want to buy some DEC with ETH, you can do so at the following links:
Please keep in mind that ALL transactions done on the Ethereum network, including, but not limited to, approving the use of DEC tokens to provide liquidity, supplying liquidity, removing liquidity, swapping ETH/DEC, and sending DEC tokens into the game, will require you to pay gas fees.
The gas fees can vary significantly from a few cents to as much as $10 - $20 USD. You are responsible for checking and paying all gas fees for all transactions on the Ethereum network and you must have enough ETH tokens in your wallet to cover them or the transaction will not go through.
Splinterlands does not assume any responsibility, nor issue any refunds, for loss of funds or any other issues relating to transactions on the Ethereum network. Please make sure you know what you are doing, and if you are unsure, please ask for help in the Splinterlands Discord server.
As most of you are already aware, the Splinterlands land presale is coming up in the very near future. We will be releasing the official launch date and tons of additional details within the next couple of weeks, but for those of you who are already saving up DEC to participate, there's almost no reason not to stash that DEC in the Uniswap pool so you can earn rewards from it while you're waiting for the presale to start!
You can easily remove your tokens from the pool before the presale begins so you can pick up your heavily discounted land, but keep in mind that if everyone removes their liquidity from the pool when the presale starts then that will leave a big opportunity for players who contribute to the pool to earn a bigger share of the rewards over the next 30 day period!
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