This Guide walks you through how to use the UNION Geyser which was introduced here. This article provides an overview of the Geyser, then follows with instructions on how to Deposit and Withdraw.
Once live on December 17th 14:00 UTC, the Geyser can be accessed at: https://geyser.unn.finance.
Geyser Economics Review
The program will distribute 5% of the total supply over 180 days to ETH-UNN liquidity providers on Uniswap who stake their LP tokens in the Geyser. Given that we have allocated a fixed amount of UNN, the APY will be determined by the participation of the liquidity providers.
Real-time APY can be tracked in the Geyser UI.
At the end of the program, we will have distributed 50,000,000 UNN to liquidity providers on the ETH-UNN Uniswap Pair.
Geyser UI Intro
At the top of the Geyser, in the header, are the APY and your accrued rewards.
The APY formula is calculated in UNN terms only, excluding price fluctuation, liquidity fees from Uniswap, and impermanent losses. The formula assumes yearly compounding, and because the program lasts only 180 days, we can simplify the formula to:
APY = (UNN Rewards not yet distributed) / (Total UNN staked in Geyser)* (365 / Days left in program)
Certainly, participants can unstake daily and add earned UNN to liquidity, then restake the LP for more UNN to obtain higher APY, but the gas costs would likely be prohibitive.
Under the header Geyser are the 3 tabs:
- Deposit — This is where you stake Uniswap ETH-UNN LP to earn UNN. Read on for instructions on how to Stake.
- Withdraw — This is where you unstake Uniswap ETH-UNN LP and claim your UNN rewards. Read on for instructions on how to unstake.
- Stats — This is where you can see overall stats on the program such as program length, accrued rewards, claimed rewards, TVL, and more.
- Provide liquidity to the ETH-UNN Uniswap pair here (or click on the Uniswap text which will take you to the pair) and receive ETH-UNN LP Tokens.
- Connect your Metamask wallet and go to the Deposit tab.
- Click “Deposit.”
- Approve the two transaction requests on Metamask.
- Confirm the deposit of your ETH-UNN LP Tokens in the Geyser UI.
Estimated rewards are based on the time of staking. Actual rewards may differ due to APY fluctuations.
In rare circumstances where you rejected a previous transaction in the Geyser and want to deposit again, you will be asked to approve a “reset allowance.” You will need to approve “reset allowance” before being able to proceed with standard deposit transactions.
- Go to the “Withdraw” tab and connect your Metamask wallet that you deposited ETH-UNN LP tokens with.
- Enter the amount of ETH-UNN LP tokens you want to withdraw. The “Amount to Withdraw” field shows the ETH-UNN LP tokens you can withdraw. Withdrawing your ETH-UNN LP tokens also withdraws the accrued rewards, pro-rated by percent of deposited ETH-UNN LP you are withdrawing.
- Click “Withdraw.”
- You will be asked to approve one unstake transaction. After the LP withdrawal is approved and completed, you will receive your LP tokens and the UNN rewards.
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