1inch’s current liquidity mining program was a success. Over the 4 weeks that the program was running, the TVL (total value locked in terms of liquidity) reached over 1.9 BLN USD. Inspired by these results, we decided to extend the program to the five pools listed below:
As was stated in a Medium blog post, the program starts on February 6, midnight (00:01 UTC) and will last for 28 days. In order to participate, you have to unstake your LP tokens and then stake them in new farming contracts.
To do that, please, perform these steps:
go to 1inch.io, open the farming tab;
IMPORTANT: click on the ‘expired’ button on top and find the pool in which you have been staking tokens;
click on the ‘exit’ button;
confirm the transaction in your wallet application;
wait for the transaction to be mined.
After you have exited the farming pool, you will get LP tokens back to your wallet. Now you are all set to jump into the new yield farming program. For that, you have to:
switch to the ‘active’ mode on top;
choose the same pool, for which you already have LP tokens;
click on ‘deposit’ button;
click on the ‘1LP-XX-XX Balance’ option to insert the max amount of LP tokens you are holding;
click on the ‘unlock’ button and confirm the transaction in your wallet application;
after the transaction is mined, click on the ‘deposit’ button;
confirm the transaction in your wallet;
wait until the transaction is mined.
The migration process might seem inconvenient, adding extra costs and stress, but the moving to new liquidity farming contracts is a necessity as they are way more efficient and optimized.
If you are not satisfied with the gas fees, you can postpone the liquidity migration to the time when the gas price is lower.