The collaboration promises higher rewards for LPs and increased TVL for both platforms.
2022 brings numerous challenges and hardships to DeFi platforms and investors alike. However, there are also various opportunities for sustainable growth. Sentre Protocol decides to take one of such opportunities, by migrating its farming pool to Quarry — an open protocol for launching liquidity mining programs.
What does a Quarry migration mean?
Up until now, Sentre Protocol has been maintaining its own liquidity pool and farm on the Sen Hub platform. This time, to provide higher rewards for our liquidity providers, Sentre and Quarry decide to join hands.
The Quarry migration means Sentre will close its liquidity pool and farm on Sen Hub, then open an all-new pool on Quarry Protocol. This migrated pool will yield higher profit since both Sentre and Quarry are providing rewards, and with higher TVL too.
When does the Quarry migration happen?
To give Sentizens enough preparation time, the team at Sentre worked out a schedule as below:
- March 1st, 2022 — New Sentre liquidity pool opens at Quarry
- March 10th, 2022 — Sentre liquidity pool on Sen Hub closes
Liquidity providers will have between March 1st and March 10th to unstake from the old farming pool, and start depositing into the new one. In this duration, both farming pools will be opened.
How do I unstake from Sentre farm?
To unstake your LPT from Sentre farm, go to hub.sentre.io, connect your wallet then access Sen Farming.
On the Staked Farms tab, you will see all farms you’ve staked your LPT into. Simply click on the farm, then click on the Stake / Unstake button.
At the Unstake tab, click on the MAX button to automatically input the full amount of LPT you’ve staked into the farm. Then, click on the Unstake button.
How do I deposit liquidity into Quarry?
Go to quarry.so and click on the Browse Rewarders button.
Scroll to find Sentre Protocol token, then click on the View Quarries button. Note that the new Sentre pool on Quarry will be opened on March 1st.
All pools available will be shown. Choose your preferred one and click on the Stake button.
Scroll down to the Liquidity Mining widget at the bottom of the page. Enter your desired amount of token, then click on the Deposit button.
You can track your rewards rate, your total rewards, the pool’s APY, and total staked, all in one place.
Ready, Set, Go!
To make the most out of this migration, the team at Sentre advises that all liquidity providers should start unstaking from the old Sentre pool from March 1st and deposit into the new one right away. By doing this, you’re getting higher profit, better APY, and a quicker start than everyone!
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