UST Double-Reward Farm on Polkadot is here! Stake into UST Farm and Earn Double Yields on StellaSwap
StellaSwap is excited to (re)launch our UST farm with double-rewards to incentivize TerraUSD (UST) adoption on Polkadot! As the largest DEX on Moonbeam network, which in turn represents the largest parachain on Polkadot, we’re constantly expanding our reach towards other L1 blockchain networks like Terra.
The current UST-GLMR farm (single-reward) will be retired, so existing UST-GLMR stakers are required to move their LP to the new pool on 5th April. You can start bridging UST to Moonbeam network and start trading UST from 5th April, 16:00 PM UTC, with farming rewards will go live 24 hours later. This would be a good opportunity for UST holders to generate healthy APRs outside of Terra blockchain.
UST is the Largest Decentralized Stablecoin, Surpassing DAI
As part of our ongoing initiatives to expand cross-chain capabilities, we have decided to work with various stakeholders to incentivize UST’s farm on StellaSwap. UST has surpassed DAI as the largest decentralized stablecoin, with a growth of over 60% of its market cap in just the past 3 months!
UST Double-Reward Farm Details
The details are as follows:
- Double-Reward Farm: UST-GLMR
- Retirement of Existing Single-Reward UST-GLMR Farm: 5 April, 16:00 PM UTC (Farm will be moved to inactive)
- Double-Reward UST-GLMR New Farm Open for Deposit: 5 April, 16:00 PM UTC
- Farm Rewards go Live: 6 April, 16:00 PM UTC
- Reward Tokens: STELLA & GLMR
- Terra<>Moonbeam Bridge: Axelar’s Bridge (Click here to bridge)
- Daily Emissions:
Retirement of Single-Reward UST-GLMR Farm, Current Stakers Should Deposit LP into New Double-Reward UST-GLMR Farm
Since the new UST-GLMR farm that will launch on 5 April provides for double-rewards, it means that existing LP stakers into the current single-reward UST-GLMR pool will need to restake their LP into the new UST-GLMR, double-reward farm. This is because the underlying smart contracts for dual-reward farms are fundamentally different as compared to a single-reward farm.
Therefore, existing users must take note that effective 5 April 16:00 PM UTC, the existing single-reward UST farm will be retired and inactive. They will need to restake their UST-GLMR LP to the new farm to start earning double-rewards.
Start Bridging Your UST from Terra Now!
The bridging infrastructure for UST into Moonbeam is provided by Axelar Network, a recent unicorn focused on providing scaled cross-chain interoperability across all blockchain networks. This strategic partnership is predicated on the shared vision of value transfer across multiple blockchain networks in a secure and seamless way.
You can start to bridge your UST from Terra now using Axelar’s bridge here!
Get Double Farming Rewards by Providing Liquidity
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.