Adamant is pleased to announce the release of adMESH: Adamant staked $MESH! Here’s how adMESH fits into the Meshswap ecosystem.
adMESH is tokenized vMESH (staked MESH)
- If a user deposits MESH into Adamant, that MESH is locked forever on the platform as vMESH.
- A tokenized version of vMESH, adMESH, is returned to the user at a 1:1 rate.
- adMESH represents 1 staked MESH and is pegged to MESH at a 1:1 ratio.
- If adMESH falls below the peg, buybacks will be performed to restore the peg. An inflationary death spiral (i.e. TERRA LUNA) can’t occur because adMESH can only be created by depositing MESH in Adamant.
- The adMESH token address is 0x791e974FD87c8d0BCAa9aa253ff4591A5957127c.
- By staking adMESH/MESH LP on Adamant, users will gain the maximum yield from MESH staking without having their capital locked. adMESH can be withdrawn at any time.
- Users will be able to freely swap adMESH for MESH.
- Adamant will use its voting power to boost the MESH rewards for the adMESH/MESH pool, which will significantly increase staking rewards for users.
- Adamant will also participate in Meshswap governance with the goal of maximizing user yields.
How to deposit at Adamant to maximize your MESH yield
- Head to https://Adamant.finance/vaults and in the token dropdown, select “adMESH”.
2. Open the “adMESH Deposit” vault and enter the amount of MESH you wish to deposit, then click the Deposit button. The minimum deposit is 1 MESH. You will get one adMESH token for each MESH you deposit.
It is recommended to only deposit half of the MESH tokens that you have, because you will need the other half of the adMESH tokens when creating adMESH/MESH LP.
If the price of adMESH is below the price of MESH, users should purchase adMESH from the adMESH/MESH pool instead.
3. Next, go to the adMESH/MESH pool page on Meshswap, enter the amount of tokens you want to add as liquidity, and click the Deposit button to get adMESH/MESH LP tokens.
4. Finally, open the “adMESH/MESH” vault, enter the amount of adMESH/MESH LP tokens you have you have (or click the MAX button), then click the Invest button.
Your MESH rewards will now automatically be compounded into more adMESH/MESH LP tokens. You will not need to claim anything.
adMESH/MESH Liquidity Rewards
Full liquidity rewards for the adMESH/MESH pool will begin once Meshswap allows Adamant to vote for adMESH/MESH pool rewards, which will allow users to earn even more yield!