[Alternative program: "Liquidity rewards program v2"] Multiply your XMR by adding it to the Incognito DEX

:exclamation: Note: The XMR experiment has been over on May 31, 23:59 UTC time. The alternative is the liquidity reward program v2, which will be live on June 1, 00:01 UTC time.

Find details about the new program here -> Liquidity rewards program v2

The Incognito blockchain has received a huge number, nearly $30K worth of XMR shield volume from Monero users since February. So, this week, we decided to experiment with new programs for XMR users.

Previously, the liquidity rewards for XMR in the PRV<>XMR pair were 8%. Now, we’re raising it to 10%! This means Monero users can earn 62.7% on their PRV and 10% on their XMR

If you only have XMR and don’t have PRV, I’ll show you how to earn an estimated 35% APR on your XMR (at the current price) by participating in the pDEX liquidity reward program, at the end of this post.

Both options take place on pDEX, which you can access from the Incognito Wallet:

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XMR%

Earn rewards on your XMR for helping people to trade on the world’s first privacy-preserving DEX.

All you need to do is to add liquidity for the PRV <> XMR trading pair

Pair APR on PRV APR on XMR
PRV <> XMR 62.7% 10% 8%

Remember to provide even liquidity for both sides of the pair. For example, if you want to provide $10,000 worth of liquidity, you have to provide $5,000 worth of PRV and $5,000 worth of XMR.

Click here to expand instructions

1. Open your Incognito wallet to access the pDEX

Don’t have a wallet yet?

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2. Deposit funds to your trading account

On your home screen, tap the ‘Trade’ icon. This will open up the pDEX.

Then tap deposit.

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Next, choose which account you’d like to deposit funds from.

Select the account, enter the amount, and tap Deposit.

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Do it for the second token too.
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That’s it. Now you have funds in your trading account.

3. Add liquidity from your trading funds

Tap ‘Add liquidity’ at the top of your screen, and set the amount you want to provide. Then tap ‘Add liquidity’ at the bottom of your screen.

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Success!

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From the minute your liquidity contribution is made, you’ll start earning rewards. Rewards will be automatically deposited to your pDEX account every Monday.

Thanks for being a liquidity provider!

The program is LIVE from May 12

All rewards for PRV/pXMR liquidity providers will be distributed every Monday, 16:00 UTC time. The rewards will be paid in PRV according to the market price on the distribution day.

Earn 35% APR on your XMR with pDEX reward program

If you only have XMR, the strategy below will help you to earn interest of an estimated 35% APR on your XMR without giving out personal information like in other crypto lending platforms. If the price of PRV increases, the APR can be higher.

mnr

Problem
There are currently 18,335 PRV & 228.8 XMR in the pools. The current price of PRV/XMR is 0.0124. Bob wants to invest his 10 XMR. What should he do to earn the best interest?

See the spreadsheet solution here. Below is the explanation.

Bob will divide his XMR into 2 groups: 1 group with 5.05 XMR and another with 4.95 XMR. The second group is then used to buy PRV in the PRV <> XMR market on pDEX.

Now, Bob has 387.94 PRV, along with 5.05 XMR. He can use that to add liquidity to the PRV <> XMR pair in the pDEX.

Let’s see the reward Bob can earn on his original 10 XMR in 3 cases: Price of PRV/XMR remains unchanged, increases, and decreases.

Case 1: Price PRV/XMR remains unchanged at 0.0124

Time XMR reward (10% APR) PRV reward (62.7% APR) Total equivalent XMR reward Interest rate
1d 0.001 0.666 0.01 0.1%
1w 0.01 4.664 0.068 0.68%
1m 0.042 19.992 0.289 2.89%
1y 0.505 243.239 3.521 35.21%

Case 2: Price PRV/XMR increases to 0.015 (+20%)

Time XMR reward (10% APR) PRV reward (62.7% APR) Total equivalent XMR reward Interest rate
1d 0.001 0.666 0.011 0.11%
1w 0.01 4.664 0.079 0.79%
1m 0.042 19.992 0.341 3.40%
1y 0.505 243.239 4.148 41.48%

Case 3: Price PRV/XMR decreases to 0.01 (-20%)

Time XMR reward (10% APR) PRV reward (62.7% APR) Total equivalent XMR reward Interest rate
1d 0.001 0.666 0.008 0.08%
1w 0.01 4.664 0.056 0.56%
1m 0.042 19.992 0.241 2.41%
1y 0.505 243.239 2.934 29.34%

The most important part of the strategy is how to divide your XMR in the best way. We built a spreadsheet here for you to find out the most ideal dividing ratio: Private XMR Lending Experiment.

Please remember that there are still risks with any investment strategy, especially if the price of PRV or XMR goes down dramatically. So, please play with it at your own risk. And be sure to share your feedback with us! If you like it, we will consider making ‘private XMR lending’ an automated function that helps you to confidentially earn interest on all non-PRV coins.

This new program is an experiment and rates can be changed based. All changes will be posted on this thread 1 week prior to the time the change occurs.

Ready to start earning rewards?

Just open pDEX in your Incognito Wallet

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If you have any questions related to the program & strategy above, please feel free to drop your comments on this thread or just DM me at @jason!

12 Likes

Nearly ~$7,000 worth of liquidity has been added into the PRV <> XMR pair. The community is reacting quite well to the experiment. Let’s keep it up, guys :grinning:

Screen Shot 2020-05-14 at 4.25.25 PM

4 Likes

I’ll throw some liquidity up for XMR. What’s everyone view to be the easiest place to buy some at? Coinbase doesn’t offer any and I rather not get hit with exchange fees (unless they are low).

I see pDex offers exchange PRV > XMR but I worry about having to play games (watch prices, do small exchanges, etc) to not get screwed on exchange rates.

Hi @Jared. Yeah so far all US-based exchanges haven’t listed XMR yet. Maybe the government there hates the privacy for their citizens lol. I would recommend you to use Bisq (a P2P exchange), or some trusted swapping services to swap non-XMR cryptos, especially BTC, to XMR such as xmr.to or ChangeNow.

Easiest way: Use pDEX to buy XMR confidentially without giving out KYC.

It’s cool to know that you have participated in the experiment. What do you think of Private XMR Lending Experiment? Should we implement one? Your feedback is precious.

P/S: Just notice you have withdrawn your comment. Still, hope that my answer helps.

3 Likes

Hi @jason, I see now that liquidity pairs BTC > PRV > XMR should work out without too much slippage and loss during exchange. I personally do not have a current use case for owning XMR but would like to add XMR liquidity to help those who do have a need to use XMR without being tracked.

1 Like

Hi @Jared. The liquidity pool sizes of all 2 pairs PRV <> BTC & PRV <> XMR are large now. You can trade directly on the 2 pairs with big volume without encountering unexpectedly high prices. Please try it out :grinning:

2 Likes

@Jared, you can buy them at kraken.