LUA token is a native token of LuaSwap protocol to incentivize them to stay with the LuaSwap. Holding the LUA token means holding a share in the governance of the protocol. All LUA token holders can decide the subsequent chains to implement LuaSwap on, how much LUA to distribute to LPs in the new chain, which new token projects LuaSwap should support, etc
LUA hard-cap is at 500 million tokens.
You can store LUA in an Ethereum address. Make sure you own a private key/seeding phrase and can access the Ethereum address. You can use TomoWallet app and Metamask.
On TomoWallet app, import your address you received LUA > switch the network to Ethereum > you will see LUA balance.
The first 8 weeks will have HYPER-INFLATION
Rewards: 128X of base reward for 2 weeks, then halved every week until Week 8.
25% of earned LUA is unlocked immediately. 75% is locked for 16 weeks, then unlocked linearly every block over 1 year, starting Week 17.
Sept 28th, 2020 from block #10,950,600 on ETH blockchain
At the moment, farming on luaswap.org is the only way you can get LUA. LUA has not listed on any exchange so far. We will update you on telegram and twitter.
Get LP tokens by joinning TOMOE pools on Uniswap then use them to stake on luaswap.org to get LUA tokens.
To receive the LUA reward, follow the steps below:
Swap from TOMO to TOMOE via TomoBridge
2 Add Liquidity to our Uniswap pools (50% TOMOE - 50% ETH/USDT/USDC). Guide HERE
Receive the Uniswap V2 LP token
Go to LuaSwap.org
Stake your LP token into the reward contract and start receiving the LUA reward from September 28 2020
An additional 10% of all LUA distributions will be set aside for the LUA treasury. The LUA treasury will be spent on auditing, development, rewarding contributors, and supporting new token projects by providing liquidity to LUA/new token pool. This 10% of all LUA rewards generated within the first 8 weeks are also locked based on the unlock plan.
LuaSwap is the community-governed, multichain protocol supporting smaller pools of emerging tokens. No seed investment, founder’s fees, or pre-mine.
Farming LUA on LuaSwap will start by staking Uniswap LP tokens from our Uniswap Pools. The swapping facility will be launched approximately 4 weeks afterward. When that happens, we will run migration contracts that migrate staked pools from Uniswap and SushiSwap to LuaSwap automatically. Users and liquidity providers won’t need to do anything if they want to stay with LuaSwap.