LP Farm
Last updated
Last updated
Chikn is a game about farms, and LP Farming is a cornerstone of the ecosystem. On the surface, LP Farming is relatively simple.
Stake various LP tokens in one of the corresponding LP Farms.
Earn rewards that are added to your Silo.
Claim the rewards to empty the Silo and move them to your wallet.
Use those rewards in game.
LP Farming is closely linked with FarmLand NFTs, although you don’t need a FarmLand to be an LP Farmer. It is still possible to stake LP tokens in Chikn farms without a FarmLand NFT, however you will be limited to both the minimum reward multiplier and the minimum silo sizes.
Silos are a holding room for accumulated rewards. Over time, your Silos will fill with the tokens you earn from Farming. Once full, you’ll stop earning rewards until you empty your Silo—make sure you’re checking it regularly!
Increasing Bigness increases your Silo capacity. The rate of growth for the silo varies between resources.
Note that max Wormcount is linked to the number of tiles on a FarmLand, but is not calculated by a simple formula. See the section on WormFarm for more information.
Claiming rewards from your LP Farms empties all silos associated with that particular Farm. To claim rewards, navigate to your LP Farm, find the pool (or pools) you’re staked in, and click ‘Harvest’.
Tokens in silos are not actual, minted tokens, and are instead represented as numbers in an off-chain database. When players harvest tokens from their silos, the tokens they are owed are minted accordingly into their wallets. Because this data is initially stored off-chain, players are encouraged to empty their silos regularly in case of any errors as lost silo counts are not retrievable.
This mechanic is also important to keep in mind when token reward supplies approach depletion (i.e $FEED). The number of tokens represented in the silo can exceed the number of tokens available to claim, in which case any additional tokens over the available supply will be lost upon claiming.
There are several token pairs available in the LP Farm, all of which are related to Chikn ecosystem tokens. These are designed to encourage players to add liquidity in a wide variety of tokens, ensuring there is sufficient depth for players to trade on.
Players can currently stake:
EGG/AVAX JLP
FERT/AVAX JLP
FEED/AVAX JLP
This list may grow in the future to include more tokens. For a list of the contracts, see Farming Contracts.
Players can remove their LP at any time by navigating to their LP Farm, finding the pair they’re staked in, and selecting the ‘Withdraw’ tab. To save on gas, your silo will automatically empty in the same transaction whenever you withdraw LP tokens from a farm. There is no fee or penalty to withdraw LP tokens from farms.
LP Farm contracts are often upgraded to introduce new features, when this occurs users are required to migrate their LP tokens to the new pair. For any users who have LP Tokens sitting in old contracts, head to https://chikn.farm/lpwithdraw to remove them.
LP Farm rewards were initially distributed in $FEED. Players were able to stake their desired JLP in order to accumulate $FEED at a variable rate as determined by their multiplier.
The release of $WORM brought LP Farming into a new era. As $FEED supplies dwindled, $WORM emerged as its spiritual successor and is currently the primary reward from staking.
The release of $WORM came with an upgraded LP Farm contract that allows the Chikn team to alter rewards without needing to deploy a fresh pool. This means that players who are staked in the EGG/AVAX (Dual Rewards) pool earned both $FEED and $WORM (until $FEED ran out), as well as any additional ecosystem and partner tokens that are offered as rewards in the future.
Reward rates vary depending on the player’s FarmLand multiplier. For players with no FarmLand, the base multiplier of 4x applies.
The actual reward rate can be calculated by the following formula:
Note that the value of $EGG in staked LP can change as the price of $EGG and $AVAX fluctuate.
For example, assume that $EGG is priced at $1 and $AVAX is priced at $10. In this case, 1 JLP token is redeemable for 10 $EGG and 1 $AVAX.
If a player stakes 100 JLP, the $EGG value of those tokens would be 1,000 $EGG.
At the base multiplier of 4x, the player would expect to earn 4,000 reward tokens daily. This was true with $FEED as it had rewards calculated on a daily basis.
$WORM rewards are instead calculated over a 120 day period. The same player would expect to earn 4,000 $WORM over 120 days, or approximately 33.33 $WORM per day.
Tokens that are added in the future may have their rewards calculated over varying time spans. These decisions are made to ensure that token emissions can be balanced against the rate at which players burn tokens in-game. These reward periods may also change while the reward is live if needed.
Players can permanently increase their reward multiplier by burning $FERT on their desired FarmLand. See the section on $FERT Burning for more information about the $FERT required to increase reward multipliers.
Increasing the fertility of FarmLand has a direct impact on the daily reward calculation. For this example, assume the same token conditions outlined above ($EGG at $1, $AVAX at $10).
A player who stakes 100 JLP but has maximized their fertility at 16x would receive 16,000 $FEED daily, and 16,000 $WORM over 120 days (approximately 133.33 $WORM per day).
