Oolong Communitea Call Recap #5
Time: April 2nd, 2022 08:30 pm UTC
Location: Oolong Discord (https://discord.gg/savwHHXsmU)
Miss Oolong (MO): Hello Everyone, this is Miss Oolong, thank you for joining Oolong Communitea Call for WAGMIv2!
In today’s Communitea Call will be going over the LP farming pairs and a few important notes in regards to WAGMIv2 and Trading Competition😁
1️⃣ First- Let's get started with the LP farming pairs that everyone wants to know about! As some of you already know, WAGMIv2 has the highest incentives since the launch of the WAGMI program. In this round, our KPI is Oolong trading volume. Users will be able to redeem WAGMIv2 to BOBA at an at least 1:1 ratio or at a 1:2 ratio when Oolong’s total trading volume for the month of April is $25M or above. This time, Oolong has received 750K WAGMI tokens, which are worth around $2M when redeem at a 1:2 ratio to BOBA!
We will be allocating 75% of the WAGMIv2 tokens to incentivize farming. And below are the pairs for WAGMIv2 LP farming:
2️⃣ Moving on, we know many people are excited about the Trading Competition, and here are some important details:
- We will have a live leaderboard so you will be able to see how you are doing compared to others
- In the list of pairs that will be participating in the Trading Competition, keep in mind that for any pair that has Ethereum, it has to be WETH instead of ETH. For example, one of the pairs is USDT-WETH; if you trade with USDT-ETH, it will not be counted toward the final result!
- And lastly, starting from this Trading Competition, whenever there are trading incentives, like this time for WAGMIv2, 50% of the trading fees will go to LP providers as usual; and for the remaining 50%, 25% of those will go to PCV, while the other 25% will go to development funds to sustain the project and continue development. We will also update this in Oolong Gitbook.
3️⃣ Annnnnd to save the best for last — yes, YOLO will get allocation this round for WAGMIv2! 🎉🎉🎉
🚀Both WAGMIv2 and Trading Competition will start April 2nd around 11:59pm UTC (so in roughly around 2 hours)🚀 Get your assets ready Oolongans! Lets goooooo🚀🚀🚀
OolongSwap is the biggest DEX on Boba Network, a layer-2 Ethereum scaling solution. As Boba’s first native AMM, it is Oolong’s mission to create the best exchange, best user experience, and deepest liquidity on Boba as our motto is “more to earn, less to spend”. Aside from the regular DEX features, we have also introduced features such as dynamic pair fees to offer users lower trading slippage, multea farm for users to earn double the rewards with the same investment capital and PCV and bonding to offer a sustainable future for Oolong. Our vision is to become the gateway between Boba and the rest of DeFi world, expanding the Boba ecosystem and help new and experienced DeFi users alike find their crypto home.