In July 2022, an anonymous user created a Civil Beam farm for CST on BlockNG, where you can stake your LAW-CST liquidity provider (LP) token and earn LAW daily.
It costs over $700 to create a Civil farm on BlockNG, so whoever created one for CST did all of us a favour and we’re grateful.
So, I wanted to tell you about this new farm and how you can leverage it to earn LAW tokens daily by staking your LAW-CST LP token in it.
Furthermore, I will be showing you how we can maximise the daily LAW allocation to the LAW-CST pool gets by upvoting it with your LawRights.
There’re 3 simple steps for these, so let’s get started.
1. Provide liquidity into the LAW-CST pool on LawSwap
Go to the LawSwap liquidity page and supply LAW and CST into the liquidity pool.
Enter the amount of LAW you want to add to the pool and you’ll see the corresponding amount of CST required to have a 50:50 balance.
You’ll also see your share of the pool as shown above.
The more LAW and CST you add to the pool, the greater your share of the daily LAW rewards.
If you’re satisfied with what you see, click the Supply button and confirm the transaction to add liquidity.
2. Stake your LAW-CST LP token on the farm
Now, go to the KUDOS page and scroll down until you find the LAW-CST pool. Then click on it, as shown below
Enter the amount of your LAW-CST LP token you want to deposit into the pool. Click the MAX button if you want to deposit all.
Once done, click the DEPOSIT button and confirm the transaction with your wallet.
Now you can sit back, and enjoy your daily LAW rewards which you can claim and withdraw whenever you like.
3. Upvoting the LAW-CST pool with your LawRights
3.1 Intro to the BlockNG Civil Beam and daily LAW rewards system
The Civil Beam is one of the innovative ways BlockNG is using to distribute its token to as many people as possible in a fair manner.
The total daily rewards for all the Civil Beam pools on BlockNG is 7,692 LAW.
And the amount allocated to each of the pools is based on how many votes they receive each week.
For example, if a farm gets 10% of all votes, it’ll receive an allocation of 769.2 LAW daily. And if it gets 1%, it’ll be allocated 76.92 LAW daily, etc.
Therefore, the more votes the LAW-CST farm receives, the bigger our allocation of the daily LAW rewards will be.
3.2 What do you need in order to vote?
Voting is done using LawRights, an NFT generated when you lock up LAW for certain periods (1 month, 6 months, 1 year, or 4 years).
The longer you lock your LAW tokens, the higher the voting power of your LawRights.
For example, 1 LAW locked for 1 month gives you 0.0212328 voting power (veLAW).
For 6 months, it gives you 0.126027 veLAW. And for 1 year or 4 years, you get 0.25veLAW and 1 veLAW respectively.
Let me walk you through the process of getting LawRights and upvoting the LAW-CST Civil Beam pool to increase our daily LAW rewards allocation.
3.4 How to get LawRights
Go to the KUDOS page on BlockNG and lock up your LAW tokens for any period of time.
Enter the number of LAW tokens you want to lock, and select the lock period to see how much voting power (veLAW) you’ll get.
As you can see from the above screenshot, I’m locking 194 LAW for 4 years to get 194 veLAW.
If you’re happy with what you see, click the CREATE PERSONA button and confirm the transaction to mint your LawRights NFT.
NOTE: If this is your first time, you may have to click the CREATE PERSONA button twice. The first will give you a prompt to approve the transaction. And the second will be to mint the LawRights NFT.
You can also lock up LawPunks (a BlockNG NFT collection) to create LawRights.
However, unless they’re of a decent level and locked up for a long time, they may not get you much voting power.
Now that you have your LawRights, let’s go upvote the LAW-CST pool, and help boost our rewards allocation.
3.5 How to vote for the LAW-CST pool
Still, on the KUDOS page, scroll down just a little bit and click on Please select your PERSONA. Then select the LawRights you just created from the drop-down menu as shown below.
This will reveal the voting buttons as shown above.
Now, scroll down until you find the LAW-CST pool, click on the green thumbs-up button, and enter the percentage (%) of your LawRights voting power you want to use.
In this example, I’m using 100% of my voting power.
Then click the CAST VOTES button, and your wallet will prompt you to confirm the voting transaction.
Approve the transaction, and you’re done.
It’ll take a few minutes for your vote to be added to the total tally of votes the pool has received.
However, your vote will only count towards the rewards allocation when the weekly snapshot is captured on the following Thursday.
Conclusion
Thanks to the amazing anonymous user who helped create the CST farm on BlockNG.
Now, let’s go show the BlockNG guys the power of the CST community with our liquidity and upvotes.?
Here’s what you can do:
- Go and add liquidity to the LAW-CST pool on LawSwap.
- Stake your LP token in the LAW-CST farm on KUDOS to earn LAW daily.
And to help increase the LAW allocation going to the pool, you can:
- Lock up some LAW tokens to get LawRights for upvoting.
- Upvote the LAW-CST pool to boost the daily LAW rewards allocation we get.
BlockNG is one of the most innovative cryptocurrency projects that’s reinventing money.
And the LAW token has one of the best tokenomics designs and is backed by a sustainable business model which makes it a great addition to any crypto portfolio.
Combined with CST’s ultra-low supply, multiple use cases, and planned regular buybacks, you got yourself a perfect combo.