HAVAH Offers Liquidity Incentives on Balanced

July 25, 2024

Following Balanced’s connection to the HAVAH blockchain, HAVAH now offers incentives to improve liquidity for the HVH/sICX pool. Read on below to learn how to earn more yield on Balanced. Already familiar with Balanced? Claim bribes and Supply liquidity now.

Liquidity pools on Balanced earn 50% of the trading fees, and can also be incentivized by Balanced’s governance token, BALN. BALN is distributed to users that take bnUSD loans or provide liquidity to incentivised pools, and can be locked on Balanced in return for bBALN. Holding bBALN then increases rewards from providing liquidity and allows you to participate in governance – including the ability to vote for liquidity pools to receive greater BALN incentives. You can see the current and upcoming incentives for each pool from the Liquidity Incentives section.

To incentivize bBALN holders to vote for the HVH/sICX pool, HAVAH has begun a round of liquidity bribes. Each week for the next 16 weeks, 300 USD of HVH tokens will be available to claim by those who add BALN incentives to this pool. If you vote to incentivize the HVH/sICX pool, make sure to claim your bribe from the Liquidity Bribes section each week, otherwise you’ll lose it.

How to use HVH on Balanced

To make the most of HAVAH’s incentives, view these guides to supply liquidity and participate in the Balanced DAO. Or visit the Balanced docs for a more comprehensive breakdown.

Liquidity pools, incentives, and governance are only available on the ICON blockchain, so you’ll need to create an ICON wallet and bridge HVH to it. If you’re new to ICON, we recommend using Hana Wallet, which supports all chains Balanced connects to. You’ll also need some ICX to cover transaction fees: either buy some through Hana, or from your preferred exchange. You can now use all the features of Balanced.

To bridge HVH to your ICON wallet, go to Balanced’s Bridge tab and transfer HVH from HAVAH to ICON. Liquidity pools require an equal value of two assets, so you’ll also need to swap some of your funds for sICX. You’re now ready to supply liquidity.

Go to the Supply tab and choose to supply liquidity for HVH/sICX, then follow the prompts to add your liquidity to the pool. To earn BALN for your liquidity, stake your LP tokens from the Liquidity Pools section that will appear underneath.

You’ll now earn BALN for your liquidity, which you can claim from the Rewards section on the Home page at any time. If you choose, you can then lock up your BALN to boost your rewards, participate in governance or to earn bribes by incentivising pools.

Stay tuned for further updates on new cross-chain features for HAVAH as they become available on Balanced.