1inch Liquidity Protocol upgrades to version 1.1, enhancing governance procedures and introducing new liquidity mining incentives.
Key Features of the New Liquidity Mining Program
1inch has unveiled an updated liquidity mining program alongside the release of 1inch Liquidity Protocol v1.1. The program begins on January 9 at 00:00 UTC and runs for one month, distributing 1% of the total 1INCH token supply equally across five participating pools:
- ETH-1INCH
- ETH-DAI
- ETH-USDC
- ETH-USDT
- ETH-WBTC
Liquidity providers can expect competitive returns, building on the success of the previous program, which achieved an average APY of 300%.
Protocol Upgrade: What’s New in Version 1.1
The upgrade addresses a minor governance irregularity in vote counting, ensuring accurate DAO governance outcomes. Key changes include:
- New liquidity pools and mining contracts.
- Migrators to streamline asset transfers from older versions or external protocols (e.g., Uniswap, SushiSwap).
👉 Learn how to maximize yields with 1inch’s upgraded protocol
How to Participate in the New Program
Step 1: Withdraw from Previous Programs
Users must migrate assets to v1.1. Follow these steps:
Withdraw LP tokens from the old mining program:
- Use ‘Withdraw’ or ‘Exit’ to claim rewards and retrieve tokens.
Migrate to v1.1 via the 1inch swap interface:
- Select Liquidity Pool v1.0 (old) under ‘You Pay’.
- Choose Liquidity Pool v1.1 (new) under ‘You Receive’.
- Confirm the swap (ensure sufficient ETH for gas fees).
Step 2: Stake in New Pools
- Deposit migrated LP tokens into the upgraded protocol to start earning rewards.
Governance Rewards Update
Over 632k 1INCH tokens have already been distributed to governance participants. The upgraded protocol ensures fairer vote allocation for future proposals.
FAQ Section
Q1: When does the new liquidity mining program start?
A1: January 9 at 00:00 UTC, running for one month.
Q2: What pools are included?
A2: ETH-1INCH, ETH-DAI, ETH-USDC, ETH-USDT, and ETH-WBTC.
Q3: How do I migrate from Uniswap/SushiSwap?
A3: Use 1inch’s migrators—select the old pool under ‘You Pay’ and the new v1.1 pool under ‘You Receive’.
Q4: What’s improved in v1.1?
A4: Fixed governance vote counting and added new liquidity pools.
Final Notes
The upgrade and mining program reflect 1inch’s commitment to decentralized governance and liquidity provider incentives.
👉 Explore advanced DeFi strategies with 1inch
Disclaimer: Always assess gas fees and market conditions before participating.
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1inch Liquidity Mining, 1INCH tokens, DeFi governance, liquidity pools, protocol upgrade, yield farming, DAO governance, ETH staking