Launch of Tao and new pharmacy panels in Flatqube: Instructions for transferring liquidity

Serious changes have occurred on the Flatqube decentralized exchange: Tao has launched a project to https://gagarin.news/ru/news/what-time-do-the-trading-markets-close-and-open-do-cryptocurrency-markets-have-opening-hours/ manage the project. For this, a special Veqube control tokene and new pharmacy pools are used. In this article we tell you why Tao is needed and how it works, and also how to transfer your assets from the old pharmacy pool to a new one (after all, old pools no longer bring income).

Tao: Veqube functions and the role of voting

To be able to participate in the votes, on the Tao page you need to block Qube from the wallet connected to the site for a certain period (from 14 to 1460 days).

Blocked tokens are converted into Veqube, which are a “resource” for voting. Veqube can only be used in Tao, these tokens cannot be stored in a wallet and transmitted.

Additional Veqube are accrued on the voting account in the Tao. The higher the QUBE blocking time, the greater the volume of Veqube.

Voting in Tao Flatqube is divided at era lasting 14 days each, of which 11 days are directly through the vote. It consists in the fact that everyone gives their “voices” expressed in Veqube, for the pools presented on Flatqube. Pulas that have received more than 1% of the vote also receive awards in the current era.

The greater the stake receives the pool, the higher the reward for him in the next era. When voting, you can not give 100% of all Veqube for one pool, but distribute tokens to several.

In the current era (No. 2) the most votes received the Qube/Wever pool.

Any third -party user or investor can create his own pool and add to the list of candidates for the vote of Tao – for this you will need to block as security 1000 QUBE (about $ 3500). However, we recommend that you plan this with caution: the creator of the pool, which receives less than 1% of the vote within 4 eras, loses its key.

How to transfer your liquidity from an old pharmacy pool to a new

For the work of the new model of the protocol with Tao and Veqube, new pharmacy panels were launched, at the same time, the old ones ceased to bring income. To go to a new pool:

one. Go to the old pharmacy section and select the pool in which you have liquidity. For example, Qube/Wever.

2. On the pool page, pick up the accumulated award using the Claim Reward button. Then select the LP Tokens LP TOCENSION OF TOMENTS, Enter the entire amount of tokens (just press the Max button). Confirm the transaction of the output in the pop -up window.

3. Go to the new pharmacy section. Find a similar pool there, in our case Qube/Wever. Activate the window with the replenishment of your pharmacy balance LP tokens using the “Deposit LP Tokens” button. By the way, there is information about the current profitability of the pool nearby. For example, farming in QUBE/Wever will bring more than 73% APR.

four. Enter the number of LP tokens that appears (the easiest way to press the Max button). Also select the liquidity blocking time in the Lock Period column. The higher it is, the greater the reward (a specific coefficient will be shown when you indicate the deadline).

5. After you pressed the “Deposit” button, tokens should be added to the new pool. Congratulations, you have transferred your liquidity and get income again!