We’re excited to bring you some significant changes to our ITGR token distribution mechanism. As a community-driven project, we’ve always prioritized improving our ecosystem to be more effective, efficient, and fair to all participants. After listening to your feedback and exploring various opportunities for enhancement, we’re moving towards a much simpler method of distributing ITGR tokens to our liquidity providers (LPs).
In the past, our LP rewards were calculated based a rewards multiplier system and required distribution from our team. This made the system difficult for LPs to understand and not permissionless. While this method has served us well, we understand the need for an approach that is more intuitive and easy-to-follow. This is why we’re thrilled to introduce a streamlined reward system where LPs will now earn rewards by simply staking their LP tokens.
Here’s a rundown of how the new process will work:
- LPs stake their LP tokens: As a Liquidity Provider, you now need to stake your LP tokens in the new contract. Simply stake your LP tokens, and you’ll be eligible for the rewards.
- Normalized streaming rewards: Instead of the previous system which calculated rewards based on time and a multiplier, rewards will now be normalized for all LPs. This means each LP will receive a set pro-rated share of ITGR tokens per block, simplifying the entire rewards process and making it more transparent. LPs will also be able to claim accrued rewards at any time.
- Preparation for future changes: This shift is not just about immediate improvements. It also sets the foundation for future changes, specifically towards fee distribution to LPs.
The new rewards staking will go live on Friday May 26th so mark your calendars.
Here’s a brief guide on how to stake:
After making a deposit on the the pool page and receiving LP tokens, navigate to the “Stake” tab, select the relevant pool and then stake your tokens.
When you select a pool to stake, click the “Stake” button. Input the amount of LP tokens you want to stake, or click Max to stake all of your available LP tokens.
You will need to approve the LP tokens for deposit into the staking contract. Then click “Confirm Stake” to stake your tokens.
Once the transaction is confirmed, you will start accruing ITGR rewards every block. You can claim your rewards at any time.
If you want to unstake, input the amount of LP tokens and click Unstake.
Thank you for being part of our journey. We look forward to continuing to enhance our ecosystem together.
If you haven’t already, check out our updates from last month in the latest Integral Insights. Also consider being an LP in the new USDT/USDC pool.
Stay tuned for more updates, and happy staking!