Suinami 2.0 : Lock n Load
Introducing a unique staking mechanism to boost LP yield
Yesterday we celebrated 1 month of Suinami campaign wherein we reached some impressive milestones. In numbers:
We processed over 6.48 mn txn in just 20 days
We saw a trading volume of over $3 mn
Our TVL crossed the $2 mn+ size
The campaign was since paused for a day but now we are excited to finally announce month 2 of Suinami campaign. Month 2 offers:
Higher APYs
More eligible pools
Upto 8x APY multipliers to LPs who commit / stake their liquidity for a longer duration
Campaign details:
The Week 1 reward pool is set to be 60,000 $SUI, which is higher than the pool size in any past weeks.
This month we are also launching LP staking contracts for rewards to incentivise long term stakeholders
Users must stake their LP tokens to be eligible for Suinami pool APYs, and can choose between flexible and locked staking. Locking LP for will multiply ones LP weight by the number of weeks, 8 week lockup = 8x APY
For more details, lets dive in:
Here’s how the APY multipliers work:
In this update we are introducing a concept of staked LP positions to incentivise longer deposit durations. Users can lock their liquidity for upto 4 weeks and recieve 4 times higher reward APY. Locked LP positions have get a weight multiplier during pool TVL share calculations .To explain how this works we take an example:
Assume that the total TVL in a pool: 10,000 USD
2 Users LP equal amounts
LP position value: 1000 USD
User A stakes ‘flexibly’
User B stakes for ‘4 W’ ie 4 weeks
User A effective pool share: 1000 USD
User B effective pool share: 4000 USD
User A rewards: 1000/13000 * APY
User B rewards: 4000/13000 * APY
User B rewards = 4* User A rewards
This means User B receives a 4 times boost on his effective rewards APY by locking his stake for 4 weeks, compared to A’s flexible lock
In practice, this means based on the current TVL numbers on Kriya, users can expect see sustained APY’s of over 300% for a duration of the campaign
How to stake your LP position and earn
In Suinami month 2, users must stake their LP position within a staking contract to be eligible for earning rewards. All LP positions created after the month 2 can be staked and added to the pool in a single transaction
Staking your new & ongoing LP positions from Suinami 1:
Go to Liquidity tab under Spot’
Click on Stake under Actions
Choose the position % and lockup duration
Base APY is the APY on locking LP flexibly, and Max APY is the APY for locking tokens for the 4 week duration
All newly minted LP positions can be locked and minted in a single txn under the Liquidity tab
Withdrawing your LP position
Go to Portfolio page under Spot
All positions either Unstaked, Flexible or of Locked type
Unstaked positions can be Withdrawn from Actions under Portfolio tab, they earn no rewards unless staked
Flexible positions must be unstaked first in order to withdrawn
Locked positions can only be withdrawn after the locked until date
Summary: Suinmani month 2 begins with even more lucrative rewards and a new mechanism. Lock in your LP positions to farm market leading yields. For any queries or support, reach out to us on our Discord
About Kriya
KriyaDEX is an institutional grade DEX powered by Sui. Currently live on mainnet with an in-app bridge, a swap aggregator and a pro trading terminal with candlestick charts and on-chain limit orders.
Happy Yield Farming 👩🌾
so why am i having trouble unstaking my flexible claim?