Step 7: Claim rewards
Trading is mining. Bonus rewards.
Larix has announced a newly equipped Defi 2.0 function which enables 10x or 5x boosted mining rewards.
What is a multiple boosted reward?
We all know when you supply and borrow at Larix you will receive incentives in $Larix, and we are used to claiming it straight away at any time. Now, there’s a chance to multiply your APR, simply use your claimable $Larix to pair LARIX-USDC LP and lock it for 180 days or 90 days!
Why do we favor multiple boosted rewards?
The new function launched by Larix could also benefit its ecosystem in many different ways:
After launching the multiple boosted rewards function, Larix users will be able to experience an even higher APR. This increased APR will attract more users to Supply/Borrow, in turn boost the TVL and liquidity of the platform.
As this will motivate users to pair LP using LARIX and USDC, it will also help to build a stronger Liquidity pool of LARIX tokens. At the same time, It would be easier to drive up the price of LARIX tokens by locking it.
The emission mechanism of LARIX token is relatively conservetive in its tokenomics, locking LARIX tokens for 180 days or 90 days could further reduce the sell pressure on the token price, providing reliable yields for the users while stabilizing token price.
On the other hand, by offering boosted yields, this function is also a way to give back and show appreciation towards long term LARIX holders and investors that believe in the platform.
If you are interested in trying out this exciting new function,here’s how to proceed.
1.To claim your LARIX, click on the tab at the top right corner of the Larix website, a pop-up will appear.
2.Click on ’Claim Now’ to claim your LARIX immediately, but you will loss the additional rewards provided. Click on ‘Rewards x10’ or ‘Rewards x5’ to generate LP and multiply your rewards. A new pop-up will appear.
3.Drag the bar in the middle to decide how much you would like to stake, then click on ‘Stake to generate LP’, the LP will appear in your account automatically.
4.If the button at the bottom shows ‘Insufficient USDC Balance’, this means there’s not enough USDC in your wallet to form LP pairs with LARIX for the amount of LPs you want to generate. In this case, adjust the amount of LPs you want to generate using the bar in the middle of the pop-up,or you could add more USDC to your wallet.
5.Once you have generated the LP, close the pop-up. Click on the tab at the top right corner again, and click on ‘See details’ to view your LP in more details.