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How to Add Incentives
This page explains how to add incentives to a Boosted Position.
When you add incentives, you are giving tokens away as rewards to LPs. This is not the same as adding liquidity. You will not receive any LP tokens or other compensation for adding incentives. You are giving away rewards to LPs who stake this boosted position. If you do not understand this feature, you are advised not to use it.
Any user can add incentives to any Boosted Position on Maverick. You do not have to be the creator of a Boosted Position in order to add incentives to it. Incentives are added from the Liquidity Shaping page, which can be found under Tools in the dApp's top menu.
The Liquidity Shaping page lists every Boosted Position on Maverick.
The Liquidity Shaping page will present you with a list of every Boosted Position on Maverick. Boosted Positions are listed by token pair and accompanied by a unique identifying number to help users differentiate between them. You can also see the fee and width of the pool each Boosted Position is in, together with the TVL, volume, and APR data for the Position itself (not the pool as a whole).
Click on a Boosted Position in the list to add incentives to it. This will take you to the Incentivize Boosted Position page.
The Incentivize page for a particular Boosted Position.
This page will present more detailed information for the Boosted Position you have selected, including any incentives that have already been added to it.
This user has selected WSTETH as the incentive token, chosen to contribute 10, and selected a duration of 7 days.
To add new incentives, use the drop-down menu to select from whitelisted incentive tokens then type the amount of tokens you wish to add into the numeric field to the right. You will need to have the appropriate amount of these tokens in your wallet to proceed.
Each incentive token has a minimum required value, equivalent to ~$100 USD. If you do not input the required value at this stage, the Incentivize button will remain unavailable. The UI will tell you the minimum required value for the incentive token you have selected.
Use the slider to set the duration for your incentives. This is the period over which your incentives will be distributed to LPs in this boosted position. Incentives are spread evenly across the chosen duration, so if a user chose to add 7 ETH for a duration of 7 days, those incentives would be distributed at a rate of 1 ETH every day. The default duration is 7 days, but you can select from a range between 3 and 30 days.
If you do not see the duration slider, that means another user has already added incentives to this Boosted Position and you are proposing to add less than the remaining balance of their incentives. If you proceed in this case, your incentives will be added to the existing incentives and distributed over the remaining duration for the existing incentives. If you wish to reset the duration period, you will need to add more incentives. For more information, please see the relevant section in Understanding Incentives.
If you are happy with the amount and duration of your incentives, click the Incentivize button to proceed.
The UI will ask you to confirm that you understand incentivizing means giving away rewards.
You will be asked to confirm that you understand you are giving away rewards by choosing this action. If you understand and agree to that, click the radio button and then click Continue. Again, if you do not understand what incentives are or why you might want to offer them, you are advised not to use this feature.
Please note, the first time you add a token as an incentive, you will be asked to Approve that particular token. Incentives use a different contract, so you will need to approve tokens even if you have already Approved them elsewhere in the dApp. Approving a token requires you to confirm the choice in a your software wallet. You may also need to set an appropriate spending allowance. Read more here.
If necessary, Approve the token you have chosen as incentives, then Confirm the transaction in the modal. This will send a request to your wallet. Approve the transaction there, and the tokens will be sent from your wallet to the rewards contract. Your incentives will be added to this Boosted Position and begin distribution immediately.