The Gardens: How to Stake LP Tokens and Farm
The Gardens is where you can stake your liquidity provider (LP) tokens, and receive JEWEL as rewards. Much like everything else on DeFi Kingdoms, we aimed to make the concept of providing liquidity as easy to understand as possible.
When you click on the ‘Druid’, you will also see all the official liquidity pools that you can stake your LP tokens in. Information such as APR, Total Deposited, Pool Reward Allocation and Emission Rate is all shown.
By pressing ‘+ Liquidity’, you can pair two tokens together. For example, pairing JEWEL and BUSD together gives you JEWEL-BUSD LP tokens. This then allows you to stake in the JEWEL<>BUSD pool.
After getting your LP tokens, you can stake them in the appropriate pool by clicking ‘Deposit’. There are no deposit fees for staking LP tokens in the Gardens. You are also able to create your own liquidity pair by clicking ‘Create Pair’, but this will not be an official pool with JEWEL rewards endorsed by DeFi Kingdoms.
To prevent people from trying to exploit the system, we have implemented fees when withdrawing your staked LP tokens (based on when you choose to do so):
- 0.01% fee if a user withdraws after 4 epochs
- 0.25% fee if a user withdraws after 2 epochs
- 0.5% fee if a user withdraws after 5 days
- 1% fee if a user withdraws under 5 days.
- 2% fee if a user withdraws under 3 days.
- 4% fee if a user withdraws under 24 hours.
- 8% fee if a user withdraws under 1 hour.
- 25% slashing fee if a user withdraws during the same block.
Please note: The above periods may vary slightly due to block times on Harmony (projections are based on 2-second finality speeds).
You can read about the exact reward multipliers(JEWEL/minute) and issuance here.
If you stake more LP tokens in a liquidity pool, your withdrawal fee timer will not restart. It is also worth remembering that when you add more LP, your rewards will be auto-claimed.
How can we make the Gardens even more interesting?
Well, players will later be able to boost their JEWEL rewards in the Gardens with in-game items! Stay tuned for more updates on this.