Our Degenerative Finance front-end allows you to mint uGAS and provide liquidity to the uGAS/ETH pool on Uniswap. Doing both will allow you to earn monthly UMA Rewards.
To begin, go to our uGAS site: https://degenerative.finance/assets/ugas
Please refer to the Glossary for terms.
To mint uGas tokens you must deposit ETH as collateral on degenerative.finance/assets/ugas. A minimum of 5 uGas tokens must be minted to start a position. When minting the maximum number of uGas tokens is determined by the Global Collateral Ratio (GCR). ie. With 1 ETH of collateral, the GCR = 4, and uGas = 0.05 ETH, with 1 ETH you can mint a maximum of 5 uGas tokens:
Congratulations! You’ve minted uGAS!
To recap: “Approve Token” only approves the contract and gives permission to Degenerative Finance to deposit WETH and Mint uGAS. After approving, you need to click the button a second time to confirm the order to Mint uGAS.
You’ve done the hard part, now it’s time to Provide Liquidity in order to earn UMA Rewards.
UMA Rewards will be airdropped each month to Mint + LP users proportionally to their share of the pool. Please note that you need to both Mint and LP in order to be eligible for rewards.