YUP Rewards
How to earn YUP
Users can make money by receiving YUP tokens as rewards for curating and/or providing liquidity.
Create or Curate to Earn
The Yup protocol determines the monetary value of each post/link and vote (like) tied to that post/link based on each voter's influence. For example, if 100 YUP is being distributed in 1 hour and your like's value makes up 5% of all vote value in that 1 hour, your like 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.
Vote Value (likes)
When content is liked, approximately 50% of rewards are given to its creator (if one exists). The rest is split between previous raters in proportion to their influence.
The Process
Alice creates content (a post, for example)
Bob likes the content.
Then Carol also likes the same content.
Alice receives the token value of Bob's like.
Alice and Bob share in the token value of Carol's like.
And so on! The more likes that agree with you, the more you earn.
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 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).
Acquire YUP on Polygon by curating via the Yup Extension or purchasing some on Quickswap.
If you have YUP and ETH on Polygon, go to the YUP-ETH LP pool on Quickswap.
Input an equal value of YUP and ETH in the pool and collect your YUP-ETH Quickswap LP token.
Go to app.yup.io/staking, select the Quickswap on Polygon staking pool and enjoy life as a humble YUP farmer.
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