SiennaSwap LP Rewards Update

75% of the SIENNA / sSCRT LP rewards were reallocated to the SIENNA / stkd-SCRT LPs.

Affected Pools

SIENNA / sSCRT
SIENNA / stkd-SCRT

Old Rewards

SIENNA / sSCRT = 400 SIENNA / day
SIENNA / stkd-SCRT = 0 SIENNA / day

New Rewards

SIENNA / sSCRT = 100 SIENNA / day
SIENNA / stkd-SCRT = 300 SIENNA / day

https://app.sienna.network/swap/earn

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Reasoning

Liquid staking solutions—such as Shade Protocol’s stkd-SCRT — provide users with yield-earning opportunities that would otherwise be unavailable to them. When users LP SIENNA / stkd-SCRT, they are not only earning LP rewards in SIENNA, but are also accruing SCRT staking rewards on their stkd-SCRT. Therefore, boosting the LP rewards of the SIENNA / stkd-SCRT pool, while lowering the LP rewards of the SIENNA / sSCRT pool is in the best interest of SiennaSwap users (2 income streams with SIENNA / stkd-SCRT, as opposed to only 1 with SIENNA / sSCRT).

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SiennaSwap Guide

For a comprehensive step-by-step SiennaSwap user-guide, check out the following blog post by the Secret Network Education Committee:

https://medium.com/@secretnetwork/a-guide-to-using-siennaswap-d59d73d4ba30

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Alternatively, you can check out our video guides below:

https://medium.com/sienna-network/introducing-the-sienna-network-explainer-video-series-2837f8dc104

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About stkd-SCRT

For more information on Shade Protocol’s SCRT staking derivative, check out this blog post:

https://medium.com/@shadeprotocoldevs/shade-staking-derivatives-aed1e93d10cd

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