FinNexus is starting a new liquidity mining program on Sushiswap, where participants will be able to farm Sushi and FNX tokens together by providing FNX/ETH liquidity.

Background

FNX/ETH was one of the assets included in the Sushiswap Onsen rewards system that went live in December 2020. Currently, the Sushi reward APY is over 400%.

Implementation details

Following a favorable community vote, FinNexus is starting a new liquidity mining program on Sushiswap on February 10, 2021, with 3000 CFNX as daily mining rewards. (the daily rewards were changed to 10000 CFNX from 1st April 2021)

Incentives will be paid in convertible FNX (CFNX), which can be exchanged 1:1 to FNX.

Liquidity mining on Uniswap will end at the same time.

Please be aware that in order to convert, users must send the cFNX to the conversion contact. Afterward, 1/6th of the total cFNX burnt will be added to the user’s redeemable FNX once a month over the following 6 months. The user may choose to redeem their FNX either once every month, or may choose to wait until they have accumulated enough and redeem it all together.

How to mine Sushi and FNX together?

A notice will pop up once you open the FinNexus Options UI. This will take you to the Sushi Onsen Program.

By contributing liquidity to the FNX/ETH pair and staking in the Onsen Farming Program, you will be automatically eligible for both Sushi and FNX rewards.

Sushi rewards can be claimed on the Sushi Onsen page by navigating to the FNX/ETH pair. Please note that the Sushi rewards will be vested according to the Sushi farming rules.

FNX rewards can be claimed on the 1st day of every month from our UI pop-ups.

The FinNexus team reserves the right to adjust the FNX mining rewards monthly according to the liquidity in the Sushiswap liquidity pool.