[Action Required] Yield Farming rewards for SEED Diesel Pool have been deprecated.

LeoFinance
1 month ago
2 Min Read
433 Words

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Hello everyone,

This announcement may catch you by surprise but I'm dropping around to say that the Diesel Pool farm for SEED has just been deprecated.

Why this sudden decision?

Long story short;

It wasn't showing the results I expected at first.

  • Failed to attract decent liquidity from top holders (only 6K$).
  • Required almost daily monitoring from my side plus at least 5-10K$ from my own budget to keep the liquidity at a reasonable level.
  • Not that significant, but also had a sunk cost (as the SEED paid daily as a yield came from my own budget).

Have been thinking about the matter for a few weeks and finally decided to take the red pill. Better now than later, let's keep SEED as a 'investment-backed token' and let's park the yield farming idea for now.

Compensation for existing LP's

TribalDex has a function to flush out all the pending rewards in the pool and it's exactly what I did.

I don't have the exact numbers but all the people who had seed-hive allocated into the pool received a little gift in the form of more SEED.

According to my calcs, around 0,029 SEED has been paid out per dollar invested.

That means, If you had around 100$ allocated into the pool, you should see in your wallet an extra 2,9 SEED. That adds up to around a 4,9% instant profit on your LP position received in SEED.

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More than deserved! Liquidity Providers are brave people.

What will happen with the Diesel Pool now?

LP money is still into the pool, which I encourage to withdraw ASAP (yes, the 'action required') on the title is because you SHOULD/MUST take out your seed-hive from the pool, as it isn't giving any benefit anymore.

I'll keep 'protecting' existing liquidity providers from IL.

If you notice/feel that the pool is being manipulated, don't do ANYTHING. Wait for me to rebalance it again. I'll do this for the time being (easily 1-2 weeks) to give people more than enough time to get out.

I'll conserve the pool for now, no need to deactivate it.

TL;DR

  • Take out your funds of the SEED pool ASAP.
  • Liquidity providers received a little compensation 'airdrop' with the pending rewards allocated to the pool.

That's all for today. Hope you're enjoying the week and am sorry for the inconvenience.

100% of blogging rewards paid to @seed-treasury.
Remember you can follow the portfolio in real-time here:

https://cointracking.info/portfolio/seedtreasury

You can join us on Telegram and follow me on Twitter.

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