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Learn everything you need to know to make the most of Nectar Beehive
How will I Know what NEC Rewards I have Earned?
Not long after the end of each period, the main table on Nectar Beehive will be updated with the following statistics related to your Ethereum account for the period that has just ended: Snapshot BPT quantity Snapshot share of total NEC/wETH pool liquidity Snapshot 24/hour DeversiFi trading volume NEC rewards multiplier NEC rewards The below image is an example of what your dashboard might look like if you had participated in Period 3 on
How do I Claim BAL Rewards?
BAL rewards accrue automatically each week and can be claimed at the following URL: https://claim.balancer.finance/#/
How is the APY Calculated?
The APY shown on The Nectar Beehive is an extrapolated number based on the current Balancer pool liquidity, your own DeversiFi 24 hour trading volume, the NEC rewards available and the NEC price. = [$NEC Rewards for the Period] ÷ [$ Balancer Pool Total Liquidity] × 52 = [$NEC Rewards for the Period] ÷ [$ Balancer Pool Total Liquidity] × [24hr Trading Volume Multiple] × 52 The APY calculation shows your NEC APY. The Balancer APY
How do I participate in Beehive?
Below is a high-level overview of each stage of the process. For a deeper breakdown, go to the dedicated Beehive portal. Or, join our Discord community where other fellow beez 🐝🐝🐝 will gladly help you out. Step-By-Step Ensure you own either ETH or NEC or BOTH Stake into the NEC/wETH pool on Balancer Trade on DeversiFi to
How do I Claim NEC Rewards?
12 months from the end of each Nectar Beehive period the corresponding ‘Unlock’ NEC button will become active and you can use your Metamask or Ledger to claim your NEC from the smart contract. You can also interact with each corresponding smart contract directly if you wish. Example
What is Nectar?
Nectar ($NEC) is the DeversiFi governance token. It is a deflationary token that was not sold as part of an ICO or IEO, but was earned by traders on the Ethfinex exchange (DeversiFi’s former exchange) For more information about Nectar, including the whitepaper, weekly burn auctions and daily DeversiFi trading volume NEC Utilities 🟠 **** 🔥 Up to 50% of DeversiFi trading fee revenue is used to buy & burn N
Why use Balancer?
First of all, we 💚 Balancer! It is also important for the Nectar ecosphere to have a deep pool of on-chain NEC liquidity for the following reasons: NEC integrations into other on-chain DeFi protocols such as borrowing & lending platforms and aggregators On-Chain liquidity to demonstrate the arbitrage potential between DeversiFi and On-Chain liquidity pools when DeversiFi launches DeversiFi EARN and the DeversiFi conditional transfer / fast withdrawal service. Sounds interesting right? [
When Can I Claim NEC Rewards?
Nectar Beehive has been designed to encourage sustainable liquidity mining. NEC rewards earned through Beehive can be claimed 12 months after the end of each Nectar Beehive period, incentivising longer term DeversiFi and NEC stakeholders and community growth.
When is the Weekly Snapshot Taken and Why is it Random?
A snapshot is taken of BPT balances (the token given to liquidity providers of Balancer, representing their stakes tokens) and traders' 24 hour volume at a random time each week. Unlike some other liquidity mining programs such as UNI and SUSHI mining, Beehive DOES NOT require you to stake your Balancer Pool Tokens (BPT) into any contract. You simply need to hold the BPT in your private Ethereum wallet that is connected to DeversiFi for trading. This specific design choice has a number of bene
What is Nectar Beehive?
Nectar Beehive V1 🐝 is a 12-week sustainable liquidity mining program created to build deep on-chain liquidity for the DeversiFi Nectar ($NEC) token. The program has been designed with the purpose of integrating NEC more deeply into other DeFi projects as well as introducing traders to the high-speed DeversiFi L2 exchange. Liquidity Providers can stake NEC and/or ETH into a Balancer pool to earn $BAL, a share of 10m $NEC rewards
Will There be Future Liquidity Mining Programs?
Yes! Long term, NEC will be used to incentivise DeversiFi EARN deposits (coming soon) and AMM liquidity provision. Read up on our exciting roadmap plans for good idea of what is in the pipeline for the DeversiFi Nectar ecosystem.
How do the Multipliers Work?
Your NEC rewards for providing liquidity into the Balancer pool are multiplied based on your DeversiFi 24 hour volume at the time of the random snapshot. Multiples range from 0.8x to 2x. Your 24 hour trading volume, live multiplier and live APY are displayed on the Nectar Beehive portal when you authenticate your wallet. You can see the 24/hour volume requirements to meet each of the reward thresholds in the Nectar Beehive Guide. Screenshot below 👇
How often is the 24 hour volume and APY calculation updated?
Every 10 minutes.
How do I calculate My BAL Rewards?
You can check the BAL rewards APY of the Balancer pool by using the calculator at the following link: https://pools.vision/
What Is Balancer?
Balancer is a protocol for programmable liquidity. It allows anyone to create liquidity pools with up to 8 tokens and any arbitrary weights and trading fee. The protocol ensures that these pools are constantly rebalanced so that they act as index funds. However, instead of paying managers to rebalance the index fund, liquidity providers get paid for the service of providing liquidity for traders. This happens through a small trading fee that each pool charges when a trade uses their liquidity.
Why use a 50/50 Balancer Pool?
A 50/50 Balancer Pool was chosen (instead of, e.g. 5/95) as this maximises the amount of BAL rewards available to LPs (liquidity providers). Parameters 50/50 Pool Two risk assets (not stablecoins) Under $10m total pool size NEC is whitelisted
Can I Stake into the Balancer Pool Using a Different Ethereum Address to the one used to connect to DeversiFi?
You can, but your 24/hour volume will not count towards Nectar Beehive rewards. For your 24/hour volume to be counted towards Nectar Beehive multipliers, you must use the same Ethereum address.
What Is the Split of The Rewards Pool?
For each of the 12 week periods a maximum of 833,333 NEC tokens (approx. $133k) is available in the reward pool. This number represents the amount of NEC that would be earned if every Nectar Beehive Balancer Pool liquidity provider traded on DeversiFi enough to meet the 2x NEC reward multiplier threshold.