SoulSwap Liquidity Mine (Soul Summoner)

Liquidity Mining
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Earn SoulPower

Liquidity Mines

We are delighted to announce we will be rolling out our Liquidity Mining (farms) operation within the next 24H and would like to ensure you have the opportunity to discuss and fully digest the objectives and methodology for staking. We also want to ensure you are fully-aware of the fee we have in place for withdrawals and how. you may ensure you do not accidentally lose funds, so please pay close attention to this post as doing so may mean preventing an unintentional (and irreversible) sacrifice. Please note that the fee only applies to staking LP tokens and not for staking SOUL for SEANCE. We also have the ability to update the starting fee via a Governance Proposal.

Click here for the countdown to our launch, just in time to usher in the Harvest Moon.

Withdrawal Fee Breakdown

  • Withdrawal Fee: 14%
  • Daily Fee Reduction: 1%
  • [LP] Withdrawable Day 1: 86%
  • [LP] Withdrawable Day 14: 100%

Withdrawal Fee Rationale

  • The fee is structured to reduce by 1% daily, until no fee remaining, starting at 14% on day one.

  • This is to ensure only those interested in our long-term sustainability are rewarded our precious SOUL without a sacrifice :drop_of_blood:

  • Withdrawing sooner requires a sacrifice on a portion of what is used to drain our SoulPower.

  • It is also a strong defense again flash bots as doing so would become economically unwise.

  • The sacrifice is shared to those participating in our Spell Bound .

  • Our beloved enchanters who control our ecosystem are rewarded a share of SoulPower that is purchased off the market with the sacrifices others make for early withdrawal.

  • In order to participate in Spell Bound, one must simply stake their SEANCE

  • The longer you stake your SEANCE, the more governance (voting) power you receive.

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Screen Shot 2021-09-20 at 2.48.32 PM
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[ ] 8X SOUL-FUSD : 0x9e7711eaeb652d0da577c1748844407f8db44a10

[ ] 8X SOUL-FTM : 0xa2527Af9DABf3E3B4979d7E0493b5e2C6e63dC57

[ ] 6X FTM-USDC : 0x160653f02b6597e7db00ba8ca826cf43d2f39556

[ ] 6X FTM-ETH : 0xC615a5fd68265D9Ec6eF60805998fa5Bb71972Cb

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To clarify, the fee is only for withdrawing stake from the LPs, not for harvesting on the LPs and not for withdrawing from the staking pool nor harvesting there either? I’m pretty sure I’m right but just want to clarify.

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You’re correct – the withdrawal fee only applies to withdrawing LPs, not from harvesting. This persists for 14 days until you are able to remove without a fee.

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Thanks. Next question: The 14% fee - is that applied to each time I add new liquidity to the Farm? For instance on day 1 I stake $1000 in the Farm. That starts the 14% timer on that amount. Day 2 I stake another $1000. Does that reset the 14% for both parts or does the first $1000 now only cost 13% to withdraw and the second day’s worth is at 14%? Or are both now at 13% because this fee was applied from day 1 of the creation of the Farm, not day 1 of each stake? Day 3 another $1000 is staked, and so forth, i.e. compounding gains.

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The only times that are accounted for in the fee are those involving withdrawals.

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