How to participate in the Empty Set Dollar governance organization and become a liquidity provider?
Original title: “Empty Set Dollar (ESD) Concise Operation Tutorial”
Written by: Da Mao V587
Since the second half of this year, the rebase coin has been on fire. Ampleforth’s simple and rude gameplay has made many people want it. Recently, there are Basis Cash and ESD. Compared with AMPL, its design mechanism is much more complicated. The gameplay and game opportunities are also much more complicated, so that many people look at the interface with a confused face and don’t know how to play. I have seen a few articles about ESD in Chinese, but they are all about the mechanism. There is no simpler operating instructions. I will write them today.
Let’s talk about the income first, most of the information can be found through the esd.tools website:
When the price of TWAP is greater than 1, the positive cycle of ESD issuance is in Bond state, and ESD with DAO and LP with ESD-USDC on Uniswap can receive additional issuance income.
Is the annualization of 2000% and 3000% on the page exaggerated? But to tell you, during the positive cycle, the actual profit is higher than this data. According to the actual measurement, USDC was used to buy half of the ESD into the LP pool on December 12, and all were sold into USDC on December 17, and the return rate based on U was about 30%. Of course, during this process, the ESD currency price has also risen from 1.02 to 1.3X. Excluding the gains from the currency price increase, the actual additional issuance gains still exceed 10%.
This is still the benefit of participating in LP. If all ESD is bought and stored in DAO, the rate of return will be 2.5-3 times that of LP, which is about 80% in 5 days. As of the time of publication, this high return is still going on.
However, making money is so good, and losing money will be so good. At present, the price of ESD has greatly deviated from $1, and the risk is accumulating. This is also the reason for my withdrawal. Please do what you can if you want to participate.
Here are the specific operations:
The URL is app.emptyset.finance
Let me talk about participating in DAO first.
In the STAGE column, first change the ESD Stage, and then in the BOND column, convert the ESD in the Staged state to the Bonded state, and you can wait for the benefits. After each Epoch, the income will be automatically added to the Bonded balance.
It should be noted that once ESD bonded, you have to wait 15 epochs before taking it out. 5 days is enough to lose a lot of money. This lock-up time will be reset when you add lock-up funds.
Then there is participation in LP .
First, you need to provide liquidity for uniswap’s ESD and USDC trading pair and obtain the corresponding LP Token. This step is skipped for specific operations, there are many tutorials.
Similarly, in the STAGE column, convert the LP Token to staged, and then to the BOND column, convert the LP Token to the Bonded state, you can wait for the income.
The proceeds will appear in Rewarded, at this time you have 2 options:
(1) Claim ESD, that is, withdraw income;
(2) Prepare the corresponding USDC in the wallet, select Provide, and reinvest the proceeds. After selecting this option, you will directly increase the number of Bonded LP tokens.
Unlike DAO, the lock-up time in the LP pool is 5 Epochs, which is less than 2 days. The three operations of LP Token lock, Claim ESD, and Provide will reset the lock time .
In addition, when in a negative cycle, you can also use ESD to purchase coupons on the Coupons page, which is not described in this article.
