YGG to Distribute 3.6M YGG Tokens to YGG-RON Liquidity Providers on Ronin

Starting February 13, YGG will allocate 20,000 YGG tokens daily to YGG token holders participating in the YGG-RON liquidity pool (LP) on the Ronin decentralized exchange (DEX), Katana. YGG has committed a total of 3.6 million YGG tokens over 180 days in rewards for providing YGG liquidity to the Ronin network.

Read below for more information on this latest initiative for YGG token holders. Scroll down to find the how-to guide in English and Tagalog.

More Rewards for Liquidity Providers

The YGG-RON LP farming rewards program is designed to provide the YGG community with more ways to utilize their token holdings. This will work alongside recent rewards-focused updates to the Guild Advancement Program (GAP), such as the Rewards Center and The Stake House, offering additional options for participating in the YGG ecosystem.

“Community is at the core of everything we do at YGG,” said YGG co-founder Gabby Dizon. “This is why we’ve worked hard to provide our community with the best opportunities in Web3 gaming. Now, everyone who’s been doing their GAP quests can use their YGG tokens for more rewards through our LP rewards program on Ronin. This will give our most active players a way to get more utility out of their YGG tokens while helping out the rest of the community in the process.”

The Ronin network has become a home base for many in the YGG community, making it an ideal starting point for a rewards program such as this. Over the years, the community has fallen in love with iconic titles on Ronin, such as Axie Infinity, Pixels, Ragnarok: Monster World, Apeiron, Kaidro, and more. Through these games, YGG gamers have gained familiarity with swapping between YGG and in-game tokens via Ronin’s Katana.

The YGG-RON liquidity farming rewards program on Ronin will start just ahead of GAP Season 9. This will give questers the chance to amplify their YGG and RON rewards as the season progresses.

Contribute to the YGG-RON Liquidity Pool (LP)

Token swaps on DEXs like Katana are achieved through the use of liquidity pools (LPs), or shared pools of tokens contributed by community members.

These LPs maintain the liquidity of both tokens involved in a trade, enabling the DEX to execute the transaction. In return, liquidity providers receive a percentage of the trading fees generated by the pool. The percentage is calculated based on the liquidity provider’s contribution as a portion of the total value of that LP.

The 20,000 YGG tokens set to be distributed daily will be split in the same way. The greater share of the LP a person contributes, the greater their share of the rewards.

Those looking to participate as a YGG-RON liquidity provider can visit the Liquidity Pool section of Katana to familiarize themselves with the process. Below is a step-by-step guide to participating in the program, available in English and Tagalog:

ENGLISH

Add Liquidity to the YGG-RON pool
To start participating in the YGG-RON liquidity pool (LP) farming rewards program, you will first need to start contributing to the YGG-RON LP on Katana, Ronin’s official decentralized exchange (DEX).

1. Connect your Ronin Wallet to Katana: Visit the Ronin dapp. You will need to have the Ronin extension installed in your browser or the Ronin Wallet app installed on your smartphone. Click “Connect wallet” in the top-right corner and sign the transaction to proceed.
2. Navigate to Katana: In the left-hand menu, click “Katana” to expand the menu. Click “Liquidity pool” to view the available LPs.
3. Locate the YGG-RON pool: You can find the pool within Katana’s V2 Pools section. Click on “Farms Only” to shortlist the YGG-RON Pool. For security purposes, confirm the URL before proceeding: https://app.roninchain.com/liquidity/0x6ead2a36fdc4a538c0c51a4380fa4d19de790a72
4. Add tokens to the pool: Decide how much liquidity you want to provide to the pool. Katana will compute equal US dollar values for YGG and RON tokens to deposit from your wallet into the pool.
5. Approve the transaction: If this is your first time interacting with these tokens in this way, you will need to approve the transfer of your set amount of YGG and RON tokens from your wallet when prompted.
6. Review and confirm: Verify the details of your contribution, including the amount of LP tokens you’ll receive and your share of the pool. Click “Confirm add liquidity” when you’re ready to proceed.
7. Verify your position: Visit the My Positions tab for an overview of the YGG-RON LP, along with a breakdown of your potential earnings from trading fees accrued by the LP.

NOTE: If you do not stake your YGG-RON LP tokens, you will not be eligible for the farming rewards.

Farm your LP tokens
Once you have successfully contributed to the YGG-RON liquidity pool (LP), you’re set to start participating in the YGG-RON LP farming rewards program by staking your LP tokens. Once you stake your LP tokens, you’ll be eligible to receive a share of the 20,000 YGG tokens distributed daily to YGG-RON LP contributors.

1. Stake your LP tokens: Once you’ve added your contribution to the YGG-RON LP, you can use the LP tokens you receive to stake them into a farm. Click on the Farm rewards tab and set the amount of LP tokens you wish to stake into the farm, then confirm the transaction in your Ronin Wallet.
2. Claim your rewards: You can claim your farming rewards directly from the “Farm rewards” tab of the YGG-RON LP. Katana will have a breakdown of your YGG-RON LP farm rewards on the lower right-hand side of your screen. Click the “Claim” button to redeem the farm rewards you’ve accumulated so far.

Keep in mind that participating in an LP requires a more advanced understanding of DeFi and Web3. Contributing to an LP comes with a certain level of risk, including the possibility of impermanent loss. If the YGG or RON token rises in value and you withdraw your share from the pool, your tokens could be worth less than if you simply held onto them in your wallet.

Make sure to do your research and use your best judgment before joining the YGG-RON LP farming rewards program. Read Ronin’s articles to learn more about providing liquidity on Katana:

• Katana
• Add or Remove Liquidity
• Stake LP Tokens
• What Is Impermanent Loss?

FILIPINO

Magdagdag ng liquidity sa YGG-RON LP
Para makasali sa YGG-RON LP farming rewards program, kailangan mo munang mag-ambag sa YGG-RON liquidity pool sa Katana, ang opisyal na desentralisadong palitan (DEX) ng Ronin.

1. Ikonekta ang iyong Ronin Wallet sa Katana: Pumunta sa Ronin dapp. Siguruhing naka-install ang Ronin extension sa iyong browser o ang Ronin Wallet app sa iyong smartphone. Pumunta sa “Connect wallet” sa kanang itaas na bahagi ng screen at pahintulutan ang transaksyon upang makapagpatuloy.
2. Pumunta sa Katana: Piliin ang “Katana” sa kaliwang bahagi ng screen para makita ang kabuuan ng menu. Pindutin ang “Liquidity pool” upang makita ang mga liquidity pool na maaaring gamitin sa Katana.
3. Hanapin ang YGG-RON pool: Matatagpuan ang pool sa V2 Pools na bahagi ng Katana. Piliin ang “Farms Only” para mas madaling mahanap ang YGG-RON Pool. Para sa inyong proteksyon, siguruhing tama ang URL na iyong pupuntahan bago magpatuloy sa paglagay ng tokens: https://app.roninchain.com/liquidity/0x6ead2a36fdc4a538c0c51a4380fa4d19de790a72
4. Maglagay ng tokens sa LP: Magtakda ng halagang nais mong idagdag sa LP. Kukwentahin ng Katana kung gaano karaming YGG at RON tokens ang kukunin mula sa iyong wallet, na siyang papantay sa kanilang halaga sa dolyar.
5. Aprubahan ang transaksyon: Kung ito ang unang pagkakataong gagamit ka ng tokens para sa ganitong transaksyon, kailangang aprubahan ang paglipat ng YGG at RON tokens mula sa iyong wallet.
6. Siguruhin ang iyong transaksyon: Suriing mabuti ang detalye ng iyong kontribusyon, kabilang ang halaga ng LP tokens na iyong matatanggap at ang iyong ibabahagi sa pool. Piliin ang “Confirm add liquidity” kung handa ka nang magpatuloy sa susunod na hakbang.
7. I-verify ang iyong posisyon: Pumunta sa “My Positions” tab upang makita ang mas detalyadong impormasyon tungkol sa iyong kikitain mula sa trading fees na nakalap ng YGG-RON LP.

TANDAAN: Mahalagang maglaan o mag-stake ng YGG-RON LP tokens upang maging kwalipikado sa farming rewards.

Mag-farm ng LP tokens
Matapos mag-ambag sa YGG-RON LP, maaari nang makilahok sa YGG-RON LP farming rewards program. Kung ikaw ay nakapag-stake na ng LP tokens, maaari ka nang makatanggap ng ilang porsyento ng 20,000 YGG tokens na ipamimigay araw-araw sa mga nakibahagi sa YGG-RON LP.

1. I–stake ang iyong LP tokens: Maaari mong ilaan sa isang farm ang mga natanggap na LP tokens mula sa iyong pag-ambag sa YGG-RON LP. Piliin ang “Farm Rewards” tab at ilagay ang halaga ng LP tokens na nais mong i-stake, saka kumpirmahin ang transaksyong ito sa iyong Ronin Wallet.
2. I-claim ang iyong farm rewards: Hanapin ang “Farm Rewards” tab sa YGG-RON LP upang makita ang iyong naipong farm rewards. Piliin ang “Claim” upang matanggap ang iyong rewards sa Ronin Wallet. Makikita ang breakdown ng iyong mga YGG-RON LP farm rewards sa kanang-ibabang bahagi ng iyong Katana screen.

Parating tandaang ang pakikilahok sa isang liquidity pool ay nangangailangan ng mas malalim na pag-unawa sa DeFi at Web3. Kaukulang pag-iingat ang kinakailangan dahil ang pakikilahok sa liquidity pool ay may kaakibat na pakikipagsapalaran, kabilang na rito ang impermanent loss. Sakaling tumaas ang halaga ng YGG o RON token at iyong minabuting i-withdraw ang iyong bahagi mula sa pool, maaari pa ring maging mas mababa ang halaga nito kumpara sa kung nanatili ito sa iyong wallet.

Ugaliing magsaliksik at pairalin ang matalinong pagpapasya bago pa man makilahok sa YGG-RON LP farming rewards program. Mangyaring basahin ang mga sumusunod na lathalain ng Ronin para sa karagdagang impormasyon sa paglalaan ng liquidity sa Katana:

• Katana
• Add or Remove Liquidity
• Stake LP Tokens
• What Is Impermanent Loss?

GAP Season 9 is starting soon! Create an account on the YGG website to start questing as soon as it launches.

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