Update Feb 8, 2022
As announced here, the liquidity rewards program will be discontinued starting from 2022/02/15, 10:15 AM (UTC) and the tokens will be reallocated to be used for long-lasting Uniswap V3 liquidity managed by the team.
- We will be discontinuing the Liquidity Rewards Program at Ethereum Block 14211012 on Day 37 (Approximately 2022/02/15, 10:15 AM (UTC)), leaving 2,660,000 LOOKS to reallocate to V3.
- We’ll reallocate the leftover tokens to pair with ETH to add as V3 liquidity ourselves. The ETH for the LP will come from directly from our Treasury.
LP token stakers can continue to earn rewards for another week. We are giving you a one-week heads up before implementing the change to give you enough time to reassess your positions going forward.
If you haven’t unstaked your LP tokens by the time rewards end, don’t sweat. The pool will be open and available on the Rewards page for everyone to withdraw from for the foreseeable future.
We understand that this may be an inconvenience for those who provided liquidity for the sake of earning LP rewards on a longer timeframe, but we are confident that this change is for the best of both the project and LOOKS holders/traders long-term.
LooksRare is incentivizing liquidity for the LOOKS token by giving rewards for users that stake LOOKS-ETH UniV2 LP tokens.
The initial liquidity program will continue for 500,000 blocks (approximately 77 days) with the rate of rewards set at 10 LOOKS per block for LP stakers. We will assess the performance and requirement of a further liquidity program after the 500,000 blocks have passed.
How are liquidity provider rewards calculated?
User A’s LP rewards per block are calculated by:
- User A stakes 100 LOOKS/ETH LP tokens on Day 5
- The total amount of total staked LOOKS/ETH LP tokens is now 10,000
Based on the above, User A would receive: LOOKS per block.
How do I set up liquidity on UniV2?
To learn how to add liquidity on Uniswap V2, read our guide on adding liquidity