Announcing $ziot Farming
Today, we’re happy to announce farming incentives for $ziot coin are now live!
Every month a portion of the incentive funds are being used for $ziot farming rewards. An initial supply of 50,000 $ziot will be allocated to incentivize liquidity staking during a trial period lasting the next 30 days.
After this initial trial period, we will assess the state of the farm. Barring any unforeseen events, the farm rewards will be renewed for another 30 days and continue until the foreseeable future.
How’s it work?
At the bottom of the article, there is a step-by-step image guide on how to join the farm.
In order to join the farm, users will need ziot-eth UNI V2 LP tokens. These LP tokens represent your liquidity position in the Uniswap pool. To create these tokens, deposit 50% ETH and 50% $ziot using the Uniswap liquidity management interface. Once created, the LP tokens can be staked using the ziot farm application (https://www.ziotcoin.app/).
Staking rewards are earned in real-time, and can be claimed at any point. There are two options when claiming rewards. Stakers can collect their earned ziot while leaving their LP staked, or they can exit the farm entirely with their LP tokens and earned rewards.
At the moment, the discord role bot does not consider LP tokens when assigning roles. LP token support is planned in a future update, but bear in mind that you may lose your current role when adding ziot LP.
As with most automated market makers like Uniswap liquidity pools, there is a risk of impermanent loss (IL) when holding LP tokens. IL occurs when the relative value of one token in the pool changes with respect to the paired token. This means that large disparities in the relative token values between when you entered the pool and when you exit the pool can have adverse consequences on the total value of your LP position.
For an in-depth review of IL risks please see: https://uniswap.org/docs/v2/advanced-topics/understanding-returns/
The Future
With the $ziot farm live, we move closer towards launching the $ziot Early Access puzzle and the first vulnerability NFT sales on 4/9. Look for a new Medium article this week that will dive deeper into the specifics of the vulnerability NFTs and how the $ziot ecosystem works.
After that, we look towards the future…
Vulnerability NFTs
In April, we will begin to mint and sell the First Edition of the vulnerability NFTs. These NFTs give holders access to original vulnerability write-ups with details on exploitation against real world companies.
Early Access Puzzle
Two charged NFTs containing 1% of the $ziot supply will be winnable for the first person to beat the puzzle and also holds one of the Early Access $ziot NFTs.
Getting our Hands Dirty
A big part of the $ziot ecosystem is through ziot and several of his friends hacking on targets and putting bounty rewards back into buying $ziot and filling the LP. Now that the foundation has been built, we will be full speed ahead with earning bounties.
and Beyond…
As the $ziot ecosystem continues to grow, we will start to build more incentives into holding $ziot coin. Some ideas we are exploring:
- An introduction and educational platform for bug bounty hunters with weekly updates that is only accessible for $ziot holders.
- Vulnerability NFTs that are only purchasable with $ziot coin.
- A platform where $ziot role holders can earn vulnerability NFTs and $ziot for completing puzzle and CTF challenges.
Join the $ziot Discord and let us know your ideas:
Getting Started with Farming
- Use Uniswap to purchase the amount $ziot you would like to stake
2. Add to the Liquidity an equal amount of $ziot to $eth ratio
3. Go to https://www.ziotcoin.app/ and click the Farm link at the top. Using the $ziot farm website, approve the contract to stake your LP token
4. Stake your LP token to begin farming
