Today we’re launching a sweeping update to GET Protocol’s resources, with the key goal to improve accessibility and clarity of the GET token.
As we’re all aware, the last year has seen Ethereum utilisation sky rocket as demand and exposure to the cryptocurrency market has reached its highest point ever. This has in turn made the Ethereum network unfeasible to transact on for many people. Whilst the GET token is also available on the Polygon network, this path has a layer of complexity and uncertainty that doesn’t lower the barrier of entry for GET acquisition to where it should be.
This update we’re aiming to alleviate these problems by offering new access methods, improve the visibility of the GET token, further clarify the token’s protocol usage and upgrade token resources across the board.
With our on-chain tokenomics completed some weeks ago, it’s now more important than ever that there is deep liquidity for the GET token across both Ethereum and Polygon networks. As the number of integrators and white-labellers grow, there is only going to be an upwards demand for GET being acquired off the open market and it is critical that liquidity is in place to make this as seamless for ticketeers as possible.
One of the biggest changes to accessibility comes with the announcement that we are migrating GET Protocol’s DEX of choice across both Ethereum and Polygon to SushiSwap.
The official migration window will begin this Wednesday, 17th November.
As a team we’ve been very impressed with the continual improvements and support offered by the Sushi team for users of the SushiSwap platform. The Sushi ecosystem is driven by a strong community presence that shares a like minded ethos for making blockchain and cryptocurrency as accessible as possible.
SushiSwap as a DEX offers a one stop shop for decentralised exchanging across multiple networks, the key for us being both Ethereum and Polygon. This means that there will no longer be two separate DEXs used to acquire $GET, instead this will happen under one roof across both networks.
As part of the move to SushiSwap, we’ll be migrating the liquidity provider reward program to SushiSwap, rewarding liquidity providers that provide liquidity for the SushiSwap GET/ETH & GET/WETH pools on both Ethereum and Polygon.
In the interest of a stable migration, we’ll be introducing a 3 day grace period later this week, in which liquidity can be moved from Uniswap and Quickswap without jeopardizing rewards for the current fortnightly LP cycle that is due to be snapshotted on the 19th.
So how will this work?
The current LP reward cycle for both Uniswap and Quickswap LP providers is due to complete on the 19th November. For this cycle, the reward snapshot will be taken on the 17th at 00:00 CET and will pay out the full two week duration reward of 8000 across Uniswap and 4000 across Quickswap.
What does this mean for me as an LP provider?
From the 17th onwards, anyone providing liquidity on Uniswap or Quickswap is safe to migrate liquidity to SushiSwap without losing out on any rewards. This can be done easily by following our migration guide that is valid for both Ethereum and Polygon.
When does the next LP reward cycle begin?
The next cycle will start on the 20th through SushiSwap and will continue like normal, providing rewards every two weeks.
Any liquidity on Uniswap and Quickswap after this point will cease to be included in the LP program.
As our on-chain tokenomics have kicked in during the last month, it’s becoming increasingly necessary to have deep liquidity across the board. Therefore we’re looking to increase the amount of liquidity available on the GET/WETH pool by evening out the LP rewards. This means that each two week cycle will reward:
6,000 $GET for the GET/ETH pool on Ethereum 6,000 $GET for the GET/WETH pool on Polygon
Pools will be created before Wednesday 17th and communicated openly to the community.
We’re happy to include in this update a new seamless on-ramp available through the Dharma mobile application. This allows you to go from FIAT in your bank to $GET in your wallet across both the Ethereum and Polygon networks with a simple and easy to use UI.
Dharma provides an all in one solution for acquiring $GET that is the first platform to allow for direct FIAT purchases of cryptocurrency assets from DEX liquidity pools.
You can read more about how Dharma works here.
We believe that Dharma is the ideal platform for providing accessibility to the token no matter technical knowledge.
Along with accessibility comes clarity.
In this update we’re providing additional resources that delve deeper into the role that the $GET token plays in the underlying protocol.
After all, $GET has a key operational role in fueling each and every ticket processed through the protocol and we’re aiming to make this abundantly clear.
GET Protocol’s FAQ has been revamped with introductory resources and token guides for acquiring $GET, storing the token safely, adding to metamask and providing liquidity on SushiSwap in preparation for the migration from Wednesday 17th onwards.
Check it out at: faq.get-protocol.io
We’ve created two guides below to walk you through the process of acquiring $GET from the 17th onwards on both the Ethereum and Polygon networks:
Dharma provides an all in one solution for acquiring $GET:
Over the coming week we'll be providing further resources around the $GET token and will be routinely updating the community as the SushiSwap migration commences.
Since 2016 we have been building ticketing infrastructure powered by the latest technology to upgrade the experience for all in the ticketing chain.
Ticketing companies of all sizes use our infrastructure to get clearer insights, generate greater revenue and maximise the connection through their tickets.
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