Players can earn passive income by providing liquidity to the BITS and OIL pools on decentralized exchanges, like QuickSwap.
Below you can read all the guides on how to add liquidity to BITS and OIL and explore the full breakdown of reward formulas.
Liquidity Provider (LP) Staking Rewards
Cryptobots is incentivizing liquidity for the BITS and OIL tokens by giving rewards to users that stake BITS-USDC UNI-V2 LP tokens.
The initial rates of rewards are set at 0.4555415222859 BITS per block for LP stakes for the liquidity program. We will be discontinuing the Liquidity Rewards Program at Polygon Block 36860449 and3 8157627 leaving 0.318879 and 0.04555414286 BITS per block. Current Polygon End Block is 38559029. We will assess the performance and requirements of a further liquidity program.
How are liquidity provider rewards calculated?
User A’s LP rewards per block are calculated by the following formula:
Example: BITS-USDC LP UNI-V2:
User A stakes 1 BITS/USDC LP token on Day 3
The total amount of total staked BITS/USDC LP tokens is now 10
Based on the above, User A would receive: 1/10*0.4555415222859 = 0,04555 BITS per block (~1865 BITS per day)
Adding Liquidity to QuickSwap V2
First, visit QuickSwap and navigate to the pool for liquidity provision page for QuickSwap V2.