SushiSwap is one of the most popular decentralized exchanges (DEX) in the world, built on the Ethereum blockchain. It allows users to trade a wide range of ERC-20 tokens in a trustless and decentralized manner, without the need for intermediaries.
One of the unique features of SushiSwap is its dividend program, which rewards users who hold SUSHI tokens with a share of the platform’s trading fees. In this article, we’ll take a closer look at how the SushiSwap dividend program works, and how you can participate in it.
How the SushiSwap Dividend Program Works
The SushiSwap dividend program is also known as the SushiBar, and it operates as a staking pool for SUSHI tokens. Users can stake their SUSHI tokens in the SushiBar, and in return, they earn a share of the platform’s trading fees.
The amount of rewards you earn depends on several factors, including the amount of SUSHI you stake, the length of time you hold your tokens in the SushiBar, and the overall trading volume on the SushiSwap platform.
The SushiBar is divided into several tiers, based on the length of time you hold your tokens in the pool. The longer you stake your SUSHI tokens, the higher your tier, and the more rewards you can earn.
There are currently four tiers in the SushiBar:
Tier 1: staking period of 0-14 days
Tier 2: staking period of 15-29 days
Tier 3: staking period of 30-59 days
Tier 4: staking period of 60+ days
At the time of writing, the rewards for each tier are as follows:
Tier 1: 0.05x
Tier 2: 0.1x
Tier 3: 0.2x
Tier 4: 0.3x
Here, ‘x’ represents the platform’s trading fees, which are currently set at 0.3%. So, for example, if you stake your SUSHI tokens for 60 days or more, you can earn 0.3% of the platform’s trading fees.
It’s important to note that the rewards are paid out in SUSHI tokens, not in the tokens being traded on the platform. So, if you’re staking your SUSHI tokens to earn rewards in ETH, for example, you won’t receive ETH directly. Instead, you’ll receive SUSHI tokens, which you can then trade for ETH or any other supported token on the platform.
How to Participate in the SushiSwap Dividend Program
To participate in the SushiSwap dividend program, you need to first acquire some SUSHI tokens. You can buy SUSHI tokens on a number of different cryptocurrency exchanges, including Binance, Coinbase, and KuCoin.
Once you have some SUSHI tokens, you can stake them in the SushiBar to start earning rewards. Here’s how to do it:
Step 1: Go to the SushiSwap website and connect your wallet. You can use any wallet that supports the Ethereum blockchain, such as MetaMask or Ledger.
Step 2: Click on the ‘SushiBar’ tab on the top menu and select the amount of SUSHI tokens you want to stake.
Step 3: Choose the staking period that corresponds to the tier you want to participate in. Remember, the longer you stake your SUSHI tokens, the higher your tier and the more rewards you can earn.
Step 4: Confirm the transaction and wait for it to be processed. Once your SUSHI tokens are staked, you’ll