Degen

$DEGEN LP Guide

1/ saw a lot of people asking how to LP so here is a quick and dirty guide to setting up your first LP position:

I’m not an expert, nfa, dyor, etc.

working on meta.matcha.xyz, yc alum, @orangedao

the trading fees you get from LPing on degen/eth are negligible so I don't claim them, the real value is in the liquidity mining token rewards, the first claim date for those is February 22, 2024 according to https://www.degen.tips/liquidity-mining

whats the formula by which the liquidity mining reward get calculated? (cc @jacek)

The exact algo can be found here: https://dune.com/queries/3339314

About 20 million $DEGEN are given away daily, roughly in proportion to the liquidity you provide to the pool. If you provide 50% liquidity, you'll receive a significant amount of $DEGEN for that day. It's not exactly 50% due to a smoothing formula that slightly evens out the token distribution among everyone.