Yield Farming is Approaching — A Ripe Opportunity to Stake and Earn
Hello LOAders! We’re delighted to announce our audit has finally concluded and that the highly-anticipated yield farming feature is launching VERY soon.
As some of you may have already known from the leaks in Discord, there will be 2 farms available during launch. The first is BUSD-LOA which yields up to a whopping 650,000% APR, while the second is single staking (LOA only) and will yield up to 150,000% APR.
To get you guys hyped about it leading up to the launch, here’s a quick rundown on why you should prepare for yield farming now (besides enjoying that juicy, juicy APR!)
Early farmers earn more APR!
As with any liquidity pool, your potential earnings are higher when there are fewer people contributing liquidity to the pool. Early birds will undoubtedly benefit from better APR returns, as it will be distributed among a smaller group of people, as opposed to later when more and more users begin participating as well.
Of course, the returns you receive will depend on the amount you stake, as it is distributed according to the percentage of your contribution to the liquidity pool.
The formula to calculate your earnings are as follows:
LOA-BUSD Pool APR:
71,428.56 (Daily tokens released) * 365 days * 100 (for percentage) * LOA price in BUSD / (Total staked LP Token’s BUSD amount * 2)
LOA Single Staking APR:
17,857.14 (Daily tokens released) * 365 days * 100 (for percentage) / Total LOA staked
Maximise your existing $LOA tokens
Like any early-stage project, the full range of utilities of the $LOA token has yet to be unlocked. From a financial perspective, it is always better to invest your spare cash as opposed to locking it away in a safe to idle, leaving it susceptible to the ravages of inflation.
Similarly, yield farming gives your $LOA tokens the opportunity to grow while you wait for more utilities to be rolled out, potentially earning you some passive income along the way.
Unlike fixed deposits in banks, however, you can rest assured that your $LOA tokens can be withdrawn at any time. So, once the rest of the marketplace features are online, your tokens will be readily available for use.
Do note that as we have previously disclosed, there will be a small withdrawal fee, but this decreases the longer you stake — all the way down to 0% once you have staked for 181 days and above. Yet another reason to begin staking early!
Prepare for NFT Staking
Another thing to consider is preparing for the arrival of NFT staking. Before you can even stake your NFT skins, of course you’ll either need to mint them or purchase them from the marketplace. Hence, there’s no time like the present to get farming, so you’ll have an ample supply of $LOA tokens by the time it launches!
Similar to liquidity pools, NFT staking also doles out better rewards when there are fewer people in the staking pool. So again, being an early adopter is the best way to go. In addition, there is a 60-day vesting period in play, which means that those who act fast will reap the lion’s share of the staking rewards, especially in the earlier stages right after the launch of the NFT staking feature.
We know that most of you are extremely excited to get the ball rolling, so we will be preparing a tutorial on how to yield farm before the feature is launched. That way, you can dive right in and begin farming immediately.
The tutorial will be published on Medium soon, so do keep your eyes peeled, prepare your tokens, and get ready to start farming!
Finally, for those who have received bundled tokens during our public sales or private bundle sales, please remember that you can proceed straight to the marketplace to stake your tokens after claiming them. Happy farming!
If you would like to find out more about League of Ancients, visit our website at www.leagueofancients.com, and join our Discord at https://discord.gg/loa
