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LP Rewards (MMC)
November 30th 00:00 UTC through December 7th 23:59 UTC
MMC is the act of providing liquidity to one of the Savvy related liquidity pools. This is necessary for the Savvy platform and svTokens to function, and the SVY allocation for it is available under the Tokenomics.
Savvy launched the first Market Making Campaign (MMC) on June 14th that ran up to the conclusion of the Liquidity Bootstrapping Pool on August 11th. The following two weeks from August 12th to August 25th, Savvy utilized the Trader Joe's The Liquidity Book Rewards Program.
Based on feedback from our community, certain aspects of the program has been updated with to create a more inclusive incentivization system and expand the pools to Uniswap.
LPs need to provide liquidity over Bunni and stake their Bunni LPs to be eligible for rewards.
Incentivized ranges are clearly visible on the Bunni interface. Users simply need to choose the range with incentivization marked next to it.
SVY pool on Bunni is incentivized across the full range.
There are two ways to track and claim your rewards. You can see and claim your accrued rewards from the 'Claim' tab under the respective Bunni pool or you can use the unified Liquidity page in the Savvy app to batch claim.
Both sides of the token liquidities in each pool earn rewards separately, meaning that two LP ratios are tracked per user (eg. svBTC and WBTC sides of the liquidity). A less deep base token liquidity would hence earn more rewards than the deeper svToken side assuming the LPer provides equal liquidity to both sides.
To deepen and strengthen svToken liquidity and peg, stableswap pool rewards are distributed to liquidity provided in a certain range. Please keep in mind that svTokens below the 1:1 bin are not incentivized.
Currently ranges are:
Rewards for this pool will be distributed to the 5 bins on the lower bound and 20 bins on the upper bound of the active bin. Each side of the active bin is evenly incentivized with half of the rewards for the pool.
This MMC: Season 2 utilizes Savvy Subgraphs, an inhouse product from Savvy and the first ever subgraph created for Trader Joe's Liquidity Book. Thanks to this, participating LPs can claim their rewards daily instead of waiting for the conclusion of each epoch.
Furthermore, in line with our overall mission, the Savvy Subgraph infrastructure allows inclusion of every participating LP instead of the 'Top 20' approach taken by the Trader Joe's The Liquidity Book Rewards Program.