$GLF liquidity mining: what you need to know

3 min readOct 13, 2020

In the previous post, we have announced the official Gallery Finance launch timeline, which consists of two main stages: liquidity mining (day 1-day 14) and the first workshop (day 7-day 45).

This article is a comprehensive guide to GLF token liquidity mining, where you will find all the information you need to get $GLF. Don’t forget that the entire $GLF supply (30,000) will be distributed to community in the first 15 days — keep your eyes open for the surprise launch and start mining at once!

To get $GLF, you can stake crypto to two types of pools: GLF liquidity pools on Uniswap and four other NFT-related projects pools.

I. Uniswap LP token pools

GLF/ETH Uniswap LP token
GLF/USDT Uniswap LP Token

The primary way to get GLF tokens will be through providing liquidity to GLF/ETH and GLF/USDT pools on Uniswap. This is a general DeFi farming scheme, according to which users can stake in these two pools via Uniswap’s LP token and receive GLF tokens in their wallets.

$GLF pools will have 5x more APY (Annual Percentage Yield) than other pools on Gallery Finance.

On day one, Gallery Finance team will take 1000 tokens to create liquidity pools for GLF tokens on Uniswap. Once the pools are launched, you will be able to access them via the Gallery Finance website:

Please note that pressing stake + unstake won’t lead to automatic reward claim. Claiming reward requires a separate action — “harvest”.

$GLF token reward structure

Unlike other DeFi projects, Gallery Finance’s reward structure is distributed on a second basis. Here’s how it works on a specific example:

Let’s say that total $GLF claimable reward supply is 60 tokens — one for each second. From the start of the pool, 1 GLF token will be available every second to be claimed as a reward. After 5 seconds, 5 $GLF will be available for reward claim in this pool. If you own 50% of the pool, in 5 seconds you can claim 2,5 $GLF.

Each claimed reward reduces claimable rewards amount in the pool. As a result, your reward at a particular point in time can vary based on other people’s stake and unstake claims.

🔥 Burn rate

If you claim GLF from the rewards pool before a 10-day staking period is over, part of your reward will be subject to burn. The burn rate is as follows:

0–24 hours (from your last action) : burn 50% of claimed rewards
24–48 hours: burn 40% of claimed rewards
48–72 hours: burn 30% of claimed rewards
72–96 hours: burn 20% of claimed rewards
96–120 hours: burn 15% of claimed rewards
120–144 hours: burn 10% of claimed rewards
144–168 hours: burn 8% of claimed rewards
168–192 hours: burn 6% of claimed rewards
192–216 hours: burn 4% of claimed rewards
216–240 hours: burn 2% of claimed rewards
240 –∞ hours: burn 0% of claimed rewards

Please note that your harvest time is always calculated from the last action in each pool

II. Other NFT-related projects staking pools

Along with the main liquidity pools on Uniswap, we enable users of four innovative NFT-related projects to stake their tokens to earn $GLF:

DEGO
MEME
BOT
Donut

Gallery Finance believes in these projects’ missions and would like to reward their users with access to $GLF and exclusive NFTs.

Unlike $GLF pools on Uniswap, here you don’t need to add liquidity. You simply need to have these tokens in your wallet, stake it directly on Gallery Finance website and earn $GLF.