In our constant pursuit to refine and enhance our platform, we're committed to ensuring that our community not only thrives but also benefits from the most efficient and rewarding experience possible. With innovation and adaptability at our core, we periodically reassess our offerings to align with our strategic goals and the evolving needs of our users. Today, we're excited to share some important updates that mark a significant step forward in our journey towards a more streamlined and attractive staking ecosystem.

As part of our ongoing efforts to optimize our platform, we have carefully reviewed our current liquidity pools and staking options. Our analysis has led us to make some pivotal changes that are designed to reinforce the foundation of our ecosystem, focusing on simplifying our offerings while enhancing the rewards for our loyal community members. This blog post outlines the forthcoming adjustments to our staking pools, specifically the removal of the SGEM USDT LP and the reallocation of rewards to bolster the PYM staking and PYM USDT LP pools.

These changes are a testament to our commitment to listening to our community and proactively adapting our strategies to serve you better. Read on to understand the specifics of the current setup, the changes we are implementing, and how these adjustments aim to enrich your experience and rewards within our ecosystem.

Current Setup

• PYM Staking: Allows users to stake PYM tokens.
• PYM USDT LP: Enables users to provide liquidity to the PYM and USDT pair on Quickswap V2 and stake the corresponding LP tokens.
• SGEM USDT LP: Currently allows for staking of SGEM USDT LP tokens, but this is to be discontinued.

Changes to Implement

• Remove SGEM USDT LP: We plan to discontinue the SGEM USDT liquidity pool on Quickswap V2. This involves:
  1. Updating user interface to halt new staking into this pool and to manage the distribution of remaining rewards.
  2. Updating smart contract to stop giving rewards to the liquidity provider.
• Reallocate Rewards: The rewards previously allocated to the SGEM USDT LP will be redistributed to the PYM staking pool and the PYM USDT LP staking pool.
• Current Weightage Adjustment: The reallocation of rewards will consider the current weightage of rewards among the three pools. SGEM USDT LP had a specific percentage of total rewards given per block, this portion will now be distributed between the PYM and PYM USDT LP pools. The distribution will be proportional to their existing weightage.

This strategy aims to streamline the staking offerings and potentially enhance the attractiveness and efficiency of the remaining pools.