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Rewards
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 liked the same as you AND rewards the creator of the content.
- 1.You like or dislike the content.
- 2.Someone else also likes/dislikes the same content.
- 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.
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.
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 a 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 Polygon
Providing liquidity on Polygon is more or less the same as on Ethereum but lucky for you there are 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 1yr ago