On December 5th, 2022, Data Lake launched its Decentralized Application (dApp) at dapp.data-lake.co to provide users with a hub to manage their $LAKE tokens. Then, in August 2023, the dApp became also the place to make it easier to create and stake LPs on Uniswap to participate to the incentives program launched in August 2023 – click here to learn more about the LP incentives program.
Today, we are excited to introduce a highly-anticipated improvement of the dApp, bringing forth three enhancements that will redefine the way users interact with the platform. Let’s dive into it!
1. Streamlined Liquidity Provision: say goodbye to the previous complex process!
Providing liquidity on Uniswap through the Data Lake dApp is now easier than ever! We have simplified the process by eliminating the need for users to wrap ETH when contributing to the ETH-LAKE liquidity pool. With the upgraded version, the process is simple: approve your LAKE, then create the LP, that’s it. Another improvement is that when exiting the LP pool, your ETH is returned directly to your wallet. This streamlined approach minimizes the steps required to participate in liquidity provision, translating in less costly transactions to be executed and in a frictionless experience for the users.
Remember, providing liquidity involves risk and is not for everyone. For Incentives program T&Cs apply.
2. One-Click Rewards Claiming
Another improvement of the Data Lake dApp is the introduction of the possibility to claim rewards with one-click. Unlike the previous version of the dApp, you can now effortlessly claim both pending rewards in a single click, whether your position is staked or unstaked. This optimization is achieved by merging the process of claiming and restaking tokens into a seamless transaction. Once again, the result is a simplified user experience, allowing participants to manage their rewards efficiently without the need for multiple transactions.
3. Cost-Efficient Claims: A More Affordable Experience
One of the primary focal points of this upgrade is the significant reduction in the cost of claims. Users with only one vesting schedule will now enjoy claim transactions that are up to 50% cheaper than before, thanks to the implementation of an optimized claiming process. This enhancement not only makes the platform more financially accessible but also demonstrates our commitment to ensuring a cost-effective and user-friendly environment for all Data Lake participants.
Conclusion
With cheaper claims, simplified liquidity provision, and one-click rewards claiming, we are confident that users will find the upgraded platform more accessible. This update serves as a tangible testament to our dedication to actively listen to the valuable feedback from our community.
Thank you for being part of the Data Lake journey. If you haven’t already, visit the new improved dApp at dapp.data-lake.co, explore the new features and share with us your thoughts!
Incentives program is provided by third party: Data River, which is a partner of Data Lake, T&Cs apply. Remember, providing liquidity involves risks and is not for everyone.