Umbrella Network Announces Rewards Program Launch on Sushi
2 min readMay 1, 2021
Umbrella Network is excited to announce that we have partnered with Sushi.com (formerly SushiSwap) and listing our $UMB token for trading on their exchange.
As part of the launch, we are pleased to announce a 20,000 $UMB token prize pool for liquidity providers on the UMB-ETH pair on a pro-rata basis.
This means that those providing liquidity to the UMB-ETH pair on Sushi can earn more rewards — on top of the existing 0.25% trading fees earned. We have already added liquidity to the UMB-ETH liquidity pool to get things going so start swapping!
How to add liquidity to Sushi for UMB-ETH pool?
Navigate to Sushi Exchange’s Pool page.
- Then, click “Connect to a wallet” to get started
- Ensure you have the correct contract address 0x7229d526d5fD693720B88Eb7129058dB5D497BCe
- Choose to give permission to connect and approve.
- You can see now that your $UMB is paired, and you can see the $UMB and ETH balance in your wallet.
- Choose the sum of $UMB you want to provide to the pool. The corresponding amount of ETH that you will need to supply will auto calculate.
- Click Approve $UMB and return to your Wallet to authorise, allowing Sushi exchange to manage the $UMB asset for a small fee.
- Once the approval has been finalized, click on supply. You will have to go back to your wallet to approve the transaction. As soon as the transaction is completed, you can see your position at the bottom of the page. This position will be represented as LP tokens under Sushi ETH-UMB LP in your wallet
- Once the liquidity is provided, please Fill out this form to become eligible for the 20,000 monthly rewards prize
- To be eligible for the reward, you must contribute and keep the liquidity in the pool for at least 30 days
- Please note: Umbrella Network has provided $387,084 of the liquidity in the UMB-ETH pool, which will NOT be eligible for the rewards. So when calculating how much in the pool will share rewards, you can subtract out that amount.
- That’s it. You’re eligible to earn from the prize pool!
