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Rewards
How to earn YUP
Users earn money by receiving YUP tokens for rating content.
Curate-to-earn
The Process
The Yup protocol determines the monetary value of each vote based on each voter's influence. For example, if 100 YUP is being distributed in 1 hour and your rating’s influence makes up 5% of all rating influence in that 1 hour, your rating is worth 5 YUP. Yup then rewards that money to all previous users who rated the same as you AND rewards the creator of the content.
The Yup YUP is being distributed in 1 hour and your rating’s influence makes up 5% of all rating influence in that 1 hour, your rating is worth 5 YUP. Yup then rewards that money to all previous users who rated the same as you AND rewards the creator of the content.
For example, if 100 YUP is being distributed in a given hour, and the users' influence makes up 5% of all rating influence in that hour, their rating is worth 5 YUP. The Yup Protocol then distributes YUP tokens to all other users who gave the same rating, as well as the creator of the content.
- 1.You rate content on a scale of 1-5.
- 2.Someone else gives that content the same rating.
- 3.You receive a portion of the monetary value of their rating.
- 4.And so on! The more ratings that agree with you, the more you earn.
Vote Value
When content is rated, approximately 50% of rewards are given to its creator (if one exists). The rest is split between previous raters in proportion to their influence.
Not every opinion earns rewards. Your opinion doesn’t make you money simply because you expressed it. It’s only worth something if others agree. If nobody rates the same as you, it means you’re late or your opinion is unpopular, so it does not merit rewards.
Measuring Influence
Your influence (IN) is a measure of social value on Yup. Influence is calculated from your YUP token holdings and rewards previously received. As the Yup Protocol evolves, additional factors will affect your influence score.
Liquidity Providing
Ethereum vs Polygon
To maximize flexibility in depositing, withdrawing, and providing liquidity for YUP, we've opened a YUP-ETH liquidity pool on Ethereum and a YUP-ETH liquidity pool on Polygon. Which chain you choose mainly comes down to how much funds you want on Polygon, how active an LP you think you’ll be, and how much liquidity is in each pool.
Let’s start with the first two factors.
If you want minimal funds on Polygon and want to take the "sit and chill" approach to providing liquidity, then Ethereum may be better, because you'll only have to hold enough MATIC to stake and withdraw your YUP-ETH LP tokens once.
If you're an active LP -- adding liquidity here, withdrawing liquidity there, and other shenanigans -- then Polygon may be preferable. This allows you to take advantage of lower fees.
Finally, LP rewards are split evenly between the Ethereum and Polygon pools - 50% of LP rewards will be distributed to each pool regardless of the amount of liquidity in them. Therefore you’ll want to consider what share of liquidity your funds will make up in the pool before diving in.
As always, this is not financial advice. Just giving you the lay of the land, kind stranger
Providing Liquidity on Ethereum L1
Prerequisites:
- Hold some ETH for providing liquidity and paying for transactions
- Hold ≥ 0.5 MATIC for transactions, preferably ≥ 3 MATIC (Polygon)
- 1.The first step in providing liquidity for Yup on Ethereum is acquiring YUP. This can be achieved by curating the web using the Yup Extension or app, or by purchasing some from the Uniswap YUP/ETH pool. If you want to provide liquidity on Ethereum and have earned or purchased YUP on Polygon, you must bridge your tokens to Ethereum using the polygon bridge (see polygon bridge guide).
- 2.Hold ≥ 0.5 MATIC for transactions, preferably ≥ 3 MATIC (Polygon)
- 3.
- 4.Input an equal value of YUP and ETH into the pool and collect your YUP/ETH Uniswap LP token. You now have your golden ticket to start earning YUP.
- 5.
- 6.Search for "YUP-ETH" under token and select the amount you want to send (probably max).
- 7.Hit "Transfer". Approve and confirm your transaction and bada-bing-bada-boom, your LP tokens are on Polygon!
- 8.Finally go to app.yup.io/staking, go to the Uniswap V2 on Ethereum staking pool, hit “Stake” and Congratufrickinlations, you’re earning YUP on Polygon!
Providing Liquidity on Polygon
Providing liquidity on Polygon is more or less the same as on Ethereum but lucky for you there’s a few less steps.
Pre-requisite
- Have some ETH on Polygon for providing liquidity.
- Hold ≥ 0.5 MATIC for transactions, preferably ≥ 3 MATIC (Polygon).
- 1.
- 2.
- 3.Input an equal value of YUP and ETH in the pool and collect your YUP-ETH Quickswap LP token.
- 4.Go to app.yup.io/staking, select the Quickswap on Polygon staking pool and enjoy life as a humble YUP farmer.
Last modified 3mo ago
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