Launch of Nomad’s WBTC.mad Farm & Gradual Emission Reduction of Multichain’s WBTC.multi Farm
Continuing our efforts for harmonizing standards and reduction of liquidity fragmentation, we will be launching Nomad’s WBTC farm (called WBTC.mad, or Nomad-wrapped WBTC) with double-incentives while reducing our current Multichain WBTC.multi (Multichain-wrapped WBTC) farm.
Going forward, StellaSwap will be focused on Nomad assets for Ethereum-based bridging. This means users are strongly recommended to bridge USDC, ETH and WBTC between Ethereum network and Moonbeam via Nomad, as our farms will be centered around Nomad assets.
WBTC.mad Farm Launch
To reiterate, WBTC.mad refers to Nomad-wrapped WBTC. In order to get WBTC.mad, simply use Nomad to bridge in WBTC from Ethereum network to Moonbeam. here are the details for the farm launch;
⭐️ Farm Launch: WBTC.mad - GLMR
⭐️ WBTC Bridge: Nomad Bridge (https://app.nomad.xyz/)
⭐️ Farm Type: Double-Rewards
⭐️ Reward Tokens: STELLA & GLMR
⭐️ Launch Date: 3 June | 14:00 UTC
⭐️ Initial Daily Emissions: GLMR=20,000/day | STELLA=3,000/day (subject to change after 2 weeks)
Emissions Reduction & Gradual Retirement of WBTC.multi Farm
There will be a corresponding decrease in emissions for WBTC.multi farm, which is the current active farm on StellaSwap. We’ll begin to reduce the emissions so that we can focus on aggregating liquidity on Nomad-wrapped WBTC (WBTC.mad). Here is the details;
⭐️ Affected Farm: WBTC.multi - GLMR
⭐️ Date for Full Retirement: June 12
⭐️ Cadence of Emission Reduction: 50% reduction weekly, until full retirement
⭐️ 1st Reduction Date: June 5
Start Bridging Your BTC from Ethereum Network Now!
You can start bridging over your WBTC from Ethereum to Moonbeam in preparation for the farm launch in 24 hours.
Here’s a guide that you can use to bridge over assets from Ethereum to Moonbeam;
StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.