RAI Mint + LP Incentives Program

Overview

The RAI Mint + LP strategy requires that participants mint RAI and provide RAI/ETH or RAI/DAI liquidity on Uniswap v2 at the same time in order to accrue retroactive rewards.

How It Works

  1. Go to app.reflexer.finance or DeFi Saver and mint some RAI.

  2. Go to the RAI/ETH Uniswap v2 pool or RAI/DAI Uniswap v2 pool and add the RAI you minted as liquidity

You do not accrue rewards if:

  • You provide RAI/ETH or RAI/DAI liquidity without minting RAI (e.g buy from the pool and LP)

  • You mint RAI without adding RAI/ETH or RAI/DAI liquidity

If you mint more RAI than the amount of RAI you provide as liquidity, you only accrue rewards on the amount you minted & LPed. Likewise, if you add more RAI as liquidity than you mint, you accrue rewards only on the RAI amount that you both minted and LPed. In short, you can think of mint + LP as a formula: RAI Eligible for Rewards = min(RAI from LP token balance of an address, Total RAI debt from Safes owned by the address).

Important Notes

  • You must use the same address to mint RAI and provide Uniswap v2 RAI/ETH or RAI/DAI liquidity

  • The Uniswap v2 RAI/ETH and RAI/DAI LP tokens must stay on the same address that you used to mint RAI and provide liquidity

  • To see the minimum amount of RAI you must mint on mainnet, check the parameters page

  • If you open multiple Safes with the same address, your total RAI debt will be the sum of all RAI minted by each of your Safes

  • If your Safe gets liquidated, the amount of minted RAI you have decreases by the amount of RAI that got confiscated

  • If you would like to use a Gnosis Safe to manage your RAI positions and provide liquidity on Uniswap, you can connect to the Safe using WalletConnect and then use app.reflexer.finance

Scenarios

1. I already minted RAI but did not provide any liquidity

Go to the Uniswap v2 RAI/ETH pool or Uniswap v2 RAI/DAI pool in order to provide liquidity. You should add less or the same amount of RAI you previously minted in the pool. If you provide more RAI as liquidity than the amount of RAI you minted, you only accrue rewards on the amount you both minted and LPed.

2. I already added RAI/ETH or RAI/DAI liquidity but did not mint any RAI

You need to mint RAI in order to accrue rewards. To determine the maximum amount of RAI that you should mint, do the following:

  • Go to app.reflexer.finance or DeFi Saver and mint RAI up to the amount that you already provided in the pool.

  • You’re now accruing rewards on the amount of RAI that you both minted and LPed.

3. I minted more RAI than the amount of RAI I added as liquidity

Currently you’re only accruing rewards for the amount you both minted and LPed. If you would like to accrue more rewards, you need to add more RAI as liquidity in the Uniswap v2 RAI/ETH pool or Uniswap v2 RAI/DAI pool.

4. I minted less RAI than I can currently claim from the Uniswap v2 pool

Similar to the second scenario, if you would like to be eligible for more rewards, you need to check the amount of RAI that you can currently withdraw from the RAI/ETH or RAI/DAI pool and determine how much more RAI you need to mint.

Questions

If I provide X RAI as liquidity in the RAI/ETH or RAI/DAI Uniswap v2 pool, I might not get the same amount of RAI back when I withdraw liquidity later on. What should I do?

The retroactive scripts take this situation into account. You do not need to do anything.