Transfer of Liquidity from Voltswap V1 to Voltswap ve (3,3)
The overall steps required for the liquidity transfer are as below;
Step 1 and Step 2: Unstake LP tokens and Remove Liquidity from the VOLTSWAP V1
The below video tutorial represents process on Theta but is applicable for both Networks — Meter and Theta
If users face ‘Transaction Failed’ message while unstaking LP tokens from the farm app, we suggest to check the ‘Vault’ view for the LP tokens and VOLT rewards and withdraw from the vault view.
Key Points to Remember:
VAULT View — This is a great starting place to confirm all the LP tokens that have been locked in the farm app.
While unstaking from pools featured in the dual mining program (TDROP-TFUEL earning VOLT and TDROP, VOLT single staking earning VOLT and AMPL), please ensure that the LP tokens have been unstaked from both the farms.
Once LP tokens have been withdrawn from farm app, if they are not visible under the pool tab on Voltswap V1, please use the ‘import it’ option to display and manage the LP tokens
Step 3: Cross Chain Transfer of Tokens
The below video tutorial represents process on Theta and is not applicable for Meter Network.
Key Points to Remember:
While transferring gas token — TFUEL, ensure that you keep balance for gas fees on deposit transaction and bridge fees of 15 TFUEL
If your screen is stuck on ‘deposit pending’ for long, it might be connectivity issue on RPC to get the updated status. Please check if you have already received the tokens on the destination network.
Switching ‘Network’ in MetaMask resets the Meter Passport screen and the status displayed of the transfer
Step 4: Vesting VOLT
Before we understand the ‘how’, let us dive deep into the ‘why’!
Vesting VOLT up to 4 years period gives the users veVOLT NFTs. The number of veVOLT received per VOLT depends on the duration of lock and varies linearly with the duration.
Key Responsibilities:
Directing Weekly VOLT Emissions to liquidity pools by voting with veVOLT
Whitelist Assets
Voltswap Governance
Rewards:
Full Swap Fees from the pools to which votes were cast (0.3% Swap Fees for Volatile Pools and 0.04% for Stable Pools
Bribes from Protocols to direct weekly emissions to their pools
Key Points to Remember:
Lock Duration should be chosen by users based on individual risk evaluation
Lock Duration can only be increased. It cannot be decreased
Lock Duration can be changed only once per week
Lock Duration can be any value from 1 day to 4 years (by manually changing lock expiry date)
Step 5: Add Liquidity on ve (3,3)
Key Points to Remember:
Choose the type of pool correctly while adding liquidity — ‘Volatile’ or ‘Stable’.
CRITICAL — You earn ‘Swap fees’ if you do not stake the LP tokens in the gauge
CRITICAL — You do not earn ‘weekly VOLT emissions’ if you do not stake the LP tokens in the gauge
Step 6: Stake LP tokens in the gauge
Key Points to Remember:
CRITICAL — You earn ‘weekly VOLT emissions’ only if you stake the LP tokens in the gauge
CRITICAL — LPs who have not vested VOLT can only earn a portion of the weekly VOLT emissions. To earn full weekly VOLT emissions (up to 2.5x boost), LPs should vest VOLT into veVOLT NFTs
CRITICAL — You earn boost on ‘weekly VOLT emissions’ only if you attach veVOLT NFT to the stake
Merging NFTs can help users attach the NFT to multiple LP tokens while staking into the gauge. This is critical for LPs to receive up to 2.5x boost on weekly emissions
Step 7: Weekly Vote
Weekly Votes are due every Thursday 00:00 UTC. The first VOLT emissions will begin on 22nd September 2022.
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