Know LP Tokens more
LP Tokens represent your liquidity share in the liquidity pool. The transaction fee income will be accumulated to your LP asset and your LP Tokens are the only proof to withdraw liquidity assets.
·After you add liquidity, you will immediately obtain the corresponding LP Tokens, it can be transferred freely. Different liquidity certificate corresponds to different liquidity pool.
·WAX accounts with LP Tokens can freely withdraw the corresponding liquidity assets and claim the corresponding liquidity mining rewards (BOX)
·WAX accounts with LP Tokens can claim the corresponding liquidity mining rewards (BOX). When you transfer the LP Tokens to other WAX accounts, the corresponding right to withdraw liquidity assets and the right to claim subsequent liquidity mining rewards will also be transferred
·Adding LP Tokens to Swap will not participate in the distribution of BOX rewards
·The third-party DeFi protocol will launch the application scenario based on the Defibox LP Tokens to help you revitalize your liquidity assets and yield profit.
·Defibox cannot judge the security of any third-party DeFi protocol, nor can it prevent the third-party DeFi protocol from launching the application scenarios based on the Defibox LP Tokens. Therefore, it is strongly recommended to identify the security of the third-party DeFi protocol, Please be careful before you decide to transfer your LP Tokens.
LP Tokens Naming Rules
Issuance and naming rules:
- The token name can be up to 7 letters
- Consist of 26 letters from a-z
- One contract can issue multiple tokens
Based on the above rules, the LP Tokens issuance and naming rules are as follows:
- The LP Tokens naming method is BOX + liquidity pool ID (the liquidity pool ID is displayed in decimal system to 26 system)
- Each LP token corresponds to a different liquidity pool
- Defibox LP tokens are all issued by the contract lptoken.box(if you need to transfer it, please carefully identify the contract name)
- LP Tokens represents your liquidity share in the liquidity pool and is also the only proof to withdraw liquidity assets
- The ID of WAX+BOX liquidity pool is 1; then the name of LP token issued by this liquidity pool is BOXA; and so on.
Defibox cannot judge the security of any third-party DeFi protocols, nor can it prevent the third-party DeFi protocol from launching application scenarios based on the Defibox LP Tokens. Therefore, it is strongly recommended that you decide whether to transfer LP Tokens after carefully identifying the security of the third-party DeFi protocol.