Derive stablecoin pool + DRV farming

Oikos
2 min readMay 7, 2021

Here at Oikos, we are proud to announce another accomplishment and even more synergy with the nascent Derive protocol. Today, we are launching an updated version of the stablecoin pool reward contract and your action is needed. If you are staking your deriveUSD, you will need to migrate them. To make your life easier, we have integrated a one-click migration wizard directly on minter.

Recap

As described in a previous post, LP providers on Derive’s stablecoin pool have the option to stake their LP tokens (deriveUSD) and earn OKS rewards. Starting today and after migrating to the new contract, they can put to use their LP tokens obtained by staking on Oikos minter, directly on Derive’s DRV pool. Here are the steps:

1) Add liquidity on Derive’s stablecoin pool to get deriveUSD tokens.

2) Go to Oikos minter, LP rewards tab, Derive stablecoin pool, and stake your deriveUSD to receive Oikos LP tokens.

3) Go to Derive’s claim page, and stake your Oikos LP to earn DRV tokens.

New features

The duration of the OKS rewards program for Derive’s stablecoin pool is extended to 1 year, starting today May 7, 2021. The weekly amount of OKS goes unchanged, while the folks at Derive allocated 340,000 DRV per week on their new pool. Don’t miss this amazing opportunity and start farming now!

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Oikos

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