NFT Rewards
Provide Liquidity and get the chance of winning NFTs
Last updated
Provide Liquidity and get the chance of winning NFTs
Last updated
NFT Rewards are rewards added to Liquidity Pools. Users can provide liquidity and get the chance of winning NFTs every day.
Winners are selected based on their total share of the liquidity pool, based on this scheme:
Pool Share * 10,000 = Number of Entries
The entries count only for the liquidity pool in which the user has provided liquidity
By clicking on Details, users have the chance to see all the NFTs provided
A Liquidity Pool can have both M.E.A.L. and NFT Rewards.
Users can provide liquidity to have chances of winning NFT rewards based on their pool share: this action can be done both in the Liquidity or the NFTs sections of the Taco Swap.
It's worth noting that by providing the token pair, users contribute to the total liquidity of the specific pool.
Users are able to withdraw their tokens anytime, with no added fees.
Providing liquidity has risks to be aware of. The main risk of using Liquidity Pools is Impermanent Loss.
This feature is only for projects, get to know more on the Projects Account section
Go to the projects dashboard https://swap.tacocrypto.io/settings/nft-rewards
Login with the account which own the token(s)
Once logged in, you will be able to see the Liquidity Pools linked to your token/s. If you don't see them there are two possibilities: 1) There are no existing Liquidity Pools with your tokens and you have to create one here https://swap.tacocrypto.io/liquidity 2) The account is not linked to the token/s
Choose one of the existing Liquidity Pools and click on Manage Rewards
Click on +Add Rewards and transfer the total amount of NFTs you want to give as reward to swap.taco with the required Memo
Click on Manage, insert the daily amount of NFTs you want to give as reward and Save. Now the NFT rewards are live and visible. In this panel you will also be able to deposit more NFTs.
Click on Manage to edit rewards anytime
Up to two different NFT rewards supplies can be created for the same Liquidity Pool, one for each of the liquidity pool tokens. Only the owner of the token smart contract can manage the supply.
Example: WOMBAT/TLM pool NFT Rewards
NFT Supply 1 can be managed by wombattokens contract owner
NFT Supply 2 can be managed by alien.worlds contract owner
A third supply can be created by Taco team during special events.
NFT Rewards are a fantastic opportunity to advertise your Web3 projects.
By distributing NFT Rewards, projects allow more and more users to provide liquidity for their tokens and get to know their ecosystem.
NFT Rewards are also a great way to stabilize tokens in addition to rewarding users.
