Frogs! We want to give you a short but very juicy update on governance staking rewards. As you may know, staking $YFL in the governance vault yields passive income from LINKSWAP volume and LINKPAD profits. We have seen massive demand for this feature as governance staking recently reached a whopping 38% of total $YFL supply!
And now, last night, a test of the LINKSWAP purchaser contract made its first successful on-chain transaction, seen here:
Accumulated rewards in the governance contract since LINKSWAP launch are represented by the value of LSLP’s, currently totaling about $110.000 (EDIT: this was shown to be closer to $55.000, we apologize for the miscommunication). As the transaction shows above, the purchaser contract will convert these LSLP’s to market buy YFL, which will then be distributed to governance vault stakers proportionally.
After this successful test, we are moving forward with the activation of the governance staking rewards. As many of you have unstaked to participate in the YFLUSD staking pools, we have taken this into account so everyone will have ample time to restake in the governance vault.
To that end, we have planned reward distribution for Monday 8th of February. Please make sure you are staked by Monday if you want to participate in the first YFL staking distribution of all rewards since LINKSWAP went live!
New YFL and YAX LP reward pools
We also have two new rewards pairs live! We have YFL/ETH distributing 500 YFL and YAX/ETH distributing 7500 YAX! Both pools are active over the course of 50 days. Big thank you to 0x_b1 for the generous donation, and to yAxis!
YAX/ETH - 7500 YAX over 50 days
YFL/ETH - 500 YFL over 50 days
Please head over the the LP Rewards tab on LINKSWAP and stake your LSLP’s for these rewards.
We’d like to thank the community for their support, and will continue to develop the YF Link ecosystem to its full potential.
Governance forum: https://gov.yflink.io/