GM to everyone accelerating Farcaster! It has only been a week and the response to Farther has been incredible.
In keeping with Farther's mission of rewarding Farcaster power users, any liquidity provider who also has a Warpcast power badge by the time of the next airdrop snapshot will receive a 5x bonus to their claimed liquidity rewards during the current airdrop month. The site has been updated so go check the liquidity page if you're currently staking. LPs can expect the airdrop snapshot to happen within the last week of the month but exact timing is not guaranteed.
Some might be wondering:
Why add offchain rewards when there is already an onchain liquidity rewards program?
The main reason is the official Uniswap incentives contract being used for the program is not very capital inefficient or flexible. If any liquidity backstop is added to the pool (as is the case with the FARTHER-WETH 0.3% pool), it requires locking up far more capital in the rewards contract than ultimately gets paid out as rewards. The primary benefit of doing offchain rewards is it allows for maximum flexibility, like limiting the rewards to Farcaster power users.
The 5x bonus is assured for the month of May. Depending how it goes, the bonus may increase or decrease in future months.
Thank you for helping take Farcaster FARTHER✨.
