ArthSwap, a prominent DAO that operates on Astar Network, has recently announced the launch of its v3 farming. As per the company, the v3 farming is now beginning on Polkadot-based layer-1 Ethereum Virtual Machine (EVM) to distribute ARSW among the liquidity providers. The distribution would take reportedly place through Steer Protocol to facilitate the pools that it nominated in the recent vote.
Finally, v3 Farming on @AstarNetwork EVM (Substrate L1 EVM on @Polkadot) is starting!🔥$ARSW will be distributed to liquidity providers through @steerprotocol for the pools selected in the recent vote.
Here’s how to join👇https://t.co/wL9n3lq5Tj
— ArthSwap (@arthswap) March 9, 2024
ArthSwap Starts v3 Farming
The firm took to X to disclose the respective development. According to it, only the liquidity providers will get the ARSW rewards for the current session through the position manager. Steer Protocol plays the respective role. While mentioning the reason behind this, it noted that the activeness of the liquidity is mandatory in v3.
It also revealed that the users can still get transfer fees via the manual adjustment of their positions. In this way, they do not require the utilization of Steer. Nonetheless, ArthSwap clarified that Steer is currently not supporting the provision of liquidity with the use of ASTR. It is the platform’s native token. Keeping that in view, the users will first require wrapping it into WASTR tokens on ArthSwap.
While providing details about the procedure, it noted that the first step is the addition of liquidity through Steer. After opening the interface of ArthSwap, the users need to offer liquidity. This is reportedly a crucial point and the users should ensure that Astar Network is selected on the Steer app.
The DeFi Platform Persuades People to Actively Take Part in Regular Votes
The firm added that 3 transfers will proceed spontaneously and the users will be prompted to sign them. The 2nd step includes the staking of the LP tokens. After this step, the only step left is claiming the earnings on the staked tokens. In addition to this, the company announced to conduct regular votes. In this way, it would determine the farming pools. Moreover, it encouraged people to take part in the voting procedure.