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Phase 0 → Phase 1
Liquidity refers to the amount of tokens available to trade for a pair. If there's no liquidity for your token so it can be swapped, it is essentially worthless because holders can't buy or sell. To provide liquidity, tokens on both sides of the pool must be locked in a smart contract.
Users: Supply liquidity and stake LP to accumulate BGT rewards + LP fees. BGT rewards for a gauge are calculated from the global weighted average of validators' gauges