New WETH-TRVL Liquidity Pool on Base via Aerodrome: Collect Dtravel Rewards
The TRVL Foundation has created a new WETH-TRVL liquidity pool on Aerodrome, an Automated Market Maker (AMM) and decentralized exchange (DEX) on the Base blockchain. Community members can now collect weekly points through the Dtravel Rewards program by providing liquidity to the new pool.
Introduction
We’re excited to announce that TRVL Foundation has created a new WETH-TRVL liquidity pool on Aerodrome, an Automated Market Maker (AMM) and decentralized exchange (DEX) on the Base blockchain. TRVL community members can now collect weekly points through the Dtravel Rewards program by providing liquidity to the new pool.
In this guide we’ll walk you through how Aerodrome works, how to provide liquidity, and how you can earn trading fees and AERO emissions. We’ll also cover how to bridge your TRVL tokens from Ethereum Mainnet to Base and how you can collect points through the Dtravel Rewards program for becoming an early liquidity provider.
What is Aerodrome?
Aerodrome is a liquidity hub designed for the Base blockchain, using the latest features from Velodrome V2. It allows users to participate in liquidity pools by depositing token pairs, enabling trading on the platform. As an AMM, Aerodrome facilitates efficient token swaps with low slippage, making it the largest protocol on the Base network in terms of Total Value Locked (TVL).
How to Provide Liquidity on Aerodrome
Bridge TRVL from Ethereum Mainnet to Base
To participate in the Aerodrome liquidity pool, you’ll need to bridge TRVL from Ethereum Mainnet to Base. Here's how:
- Visit the TRVL Bridge
- Connect Your Wallet: Connect your Ethereum wallet that holds TRVL
- Select the amount of TRVL you wish to bridge to the Base network
- Confirm the Transaction: Complete the transaction
Read this blog post for more information on the TRVL Ethereum Mainnet to Base bridge.
Start providing liquidity on Aerodrome:
- Access Aerodrome: Visit aerodrome.finance and connect your wallet
- Navigate to Liquidity and search for the WETH-TRVL Pool
- Deposit Tokens: Provide an equal value of TRVL and WETH into the liquidity pool
- If you don’t have WETH on Base then you use the Aerodrome swap.
- Allow the contract to interact with both TRVL and WETH
- Approve and confirm the transaction from your wallet
- Once completed, you will receive a ERC-721 token (NFT) representing your share in the pool
Earning Trading Fees and AERO Emissions
As a liquidity provider (LP) on Aerodrome, you can earn in two ways:
- Trading Fees: Every time a trade happens within the liquidity pool, a small fee is collected and distributed amongst veAERO voters proportional to their share of the pool.
- AERO rewards: Aerodrome rewards liquidity providers with AERO tokens through weekly emissions. The amount you earn depends on the AERO emissions directed toward the TRVL liquidity pool. AERO emissions are decided by veAERO holders, who vote on which pools should receive emissions. A pool with 10% votes will receive 10% of all AERO token emissions for the following epoch.
Weekly voting periods “epochs”: veAERO voters typically vote based on the voter rewards available for each pool. They receive 100% of the fees generated as well as any incentives deposited (if any) to the pools they vote on, proportional to their votepower.
Weekly voting periods reset every Thursday 00:00 UTC:
- Voters can immediately claim all of their voter rewards
- AERO emissions stream to pools until the start of the next voting period
LP and Collect Points Weekly with the Dtravel Rewards Program
Dtravel has introduced a new activity in the Rewards Program, allowing users to earn 200 points on a weekly basis for providing liquidity on Base. At the end of Season 1 (October 31, 2024), your points will be converted to TRVL. Here's how it works:
- Provide Liquidity: Deposit at least 5,000 TRVL and the proportional amount of WETH into the Aerodrome liquidity pool on Base.
- Access the Dtravel Rewards Community-IP “LP on Aerodrome” activity
- Connect your wallet to the Dtravel Rewards TRVL-WETH LP activity
- Earn points weekly basis for continuing to contribute to the TRVL-WETH liquidity pool.
Conclusion
Providing liquidity on Aerodrome offers an opportunity to earn trading fees, AERO emissions, and TRVL rewards through the Dtravel program. By bridging TRVL to the Base network and participating in the liquidity pool, you can contribute to the ecosystem's growth while being rewarded for your involvement.