Celer Network Joins the Boba Network WAGMIv1 Cohort with Dual-Yield Liquidity Mining

1 min read

We are excited to announce a dual-yield liquidity mining event hosted by Celer Network and Boba Network on cBridge! From UTC Mar 10th 4am to Mar 31st 4am, cBridge liquidity providers will be able to stake in the USDC liquidity pool on Boba Network to earn CELR and WAGMI rewards!

On Jan 24th, Boba Network launched the WAGMI incentives program, which supports projects deployed on Boba by allowing them to offer additional incentives to users in the form of ‘WAGMI Options’. These WAGMI Options are “KPI Options” (key performance indicators) with payouts based on the performance of the Boba Network over a one-month period. For the March WAGMI Options, payouts will be based on the TVL of Boba Network for April 2022. 
Celer’s cBridge has been selected as a WAGMI cohort member for March, and cBridge LPs will be able to farm WAGMIv1 on top of existing CELR tokens rewards from the cBridge USDC liquidity pool on Boba between UTC Mar 10th 4am to Mar 31st 4am.

Liquidity Farming Details:

Pool: Boba USDC pool
Total CELR Rewards: 133,042
Total WAGMI Rewards: 5,000
Daily CELR Rewards: 6,335
Daily WAGMI Rewards: 238

Starting from May 1st, LPs with WAGMI will be able to redeem their WAGMI tokens for BOBA on gateway.boba.network at an exchange rate determined by the Boba April TVL in ETH (Ξ), following the exchange structure below:

If Boba April TVL is: < 70,000Ξ, WAGMI is redeemable for 0.5 BOBA 
If 70,000Ξ <= Boba April TVL <= 375,000Ξ, WAGMI scales linearly from 1-10 BOBA 
If Boba April TVL > $375,000Ξ, WAGMI is redeemable for 10 BOBA 

At any time, LPs with WAGMI can also exchange WAGMI for BOBA using OolongSwap at a ratio based on the supply/demand dynamics.

Stake your liquidity on cBridge and happy farming in this special event!

Follow Celer Network: 

Website | Telegram | Twitter | Github | Discord |

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: