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LUA rewards changes and farming set introduction

By Inkarias - 2020-11-09

Over the past few weeks, the LUA community has submitted several proposals to the project team in order to be able to optimize returns and passive income for investors while ensuring the interest of the project at the same time. After many remarks and discussions around this topic, the LUA team shared their wish to make some changes to the rewards in place to optimize volume and TLV on LuaSwap. With this in mind, the latest feature developed, the farming set will be deployed over the coming weeks within the ecosystem.

In short, the Farming Set is a weekly set of 9 pools being able to farm LUA rewards and being ruled by a rotational rewards system. The rewards for the pools in the Set only last for a week and are meant to bring new liquidity and reward current liquidity providers for specific pairs. These 9 pairs are the only pools that will be able to give LUA rewards, limiting the dilution of the supply.

Farming Set Pools and rewards

The different pools offered for the community will vary depending on the market and especially the best performers. However, two pools will be permanent , LUA-USDC and LUA-TOMOE, to bring a long term vision and aspect to the farming set. The rest of the set comprises the top 4 pools by 7-day trading volume and 3 pools through community picks and one pool cannot be into few categories at the same time, offering 9 true different farming pools for the LUA community. The community-chosen pools will be picked via a thread on Tomochain forum, polls on LuaSwap’s Twitter or via voting proposals, allowing a huge variety of possibilities and bringing only what the community desires the most. The code for each next Farming Set will be deployed on Wednesday with a 24-hour timelock. The new Farming Set will be activated every Thursday. Finally, LUA-USDC pool will be the only pool to give a x3 reward for the farmers.

The details regarding the farming set and future pools addition can be read at https://luaswap.org/