Hello Riders!
First of all – sorry for the delay in posting – with the crazy crypto catastrophe that happened last week, we came a bit late with the release of this blog detailing how farming will continue from May 16th.
The total rewards for the previous one-month period, including the Inception Farming Epoch (“IFE”) and the first 5 Regular Farming Epoch (“RFE”), totaled 1,705,000 WRT or 1.705% of the total token allocation.
For the IFE the total was 235,000 (bred) + 44,580 (issued as a special bonus).
For the Regular Agricultural Epoch of April 20th it was 280,000, April 25th it was 270,000, and for the period of April 30th it was 270,000, May 5th it was 270,000, May 10th it was 265,000.
Yield Farming Rewards Rewards by Pool
Rewards are currently determined by five factors:
- Pool Popularity (Total Swaps/Liquidity)
- Total pool TVL
- Cooperation with the underlying project and its willingness to support liquidity, additional rewards and DEX in general
- Asset attractiveness (stablecoins and ETH, BTC are more supported as they levy the entire Cardano ecosystem)
- The Community Interest – Proposals for a New Farm (Proposals via Discord)
A more complex algorithmic solution is under consideration, as is DAO voting once the governance platform is deployed.
As an example, here is a list of Farm token grants for the epoch ending May 15, the rewards were a total of 265,000 WRT
- USDC/ADA = 40,000
- USDT/ADA = 40,000
- MEAN/ADA = 25,000
- LIQUID/ADA = 20,000
- MELD/ADA = 20,000
- WMT/ADA = 25,000
- PAVIA/ADA = 7,000
- ADA/ADA = 7,000
- VYFI/ADA = 5,000
- FLAPS/ADA = 2,500
- COPI/ADA = 2,500
- DRIP/ADA = 1,000
- wBTC/ADA = 35,000
- wETH/ADA = 35,000
Here is a list of Farm’s token allocations for the epoch ending May 20th, the rewards total 225,000
- USDC/ADA = 37,500
- USDT/ADA = 12,500
- MEAN/ADA = 25,000
- LIQUID/ADA = 20,000
- MELD/ADA = 20,000
- WMT/ADA = 20,000
- PAVIA/ADA = 5,000
- ADA/ADA = 5,000
- VYFI/ADA = 4,000
- FLAPS/ADA = 2,500
- COPI/ADA = 2,500
- DRIP/ADA = 1,000
- wBTC/ADA = 35,000
- wETH/ADA = 35,000
For upcoming epochs, the rewards will continue at an epoch rate of 225,000 per 5-day period. This is the same as the epoch ending on May 20th.
This number is the baseline for future Epoch reward allocation, but due to the five factors outlined above and the overall status of the market, this may fluctuate. The source of truth always remains the app’s UI. Where you can see the current and next epoch rewards. This allows you to see up to 10 days ahead. The current Epoch rewards will not change. The reward numbers of the next epoch will not change with a probability of 99%. The 1% occurred only recently through a major exception when 90% of a pool was drained from USDT due to a sudden de-peg.
Are there other rewards?
We are currently in negotiations with various projects to add additional rewards on a POOL basis. These discussions are ongoing, so we cannot announce them at this time. Stay tuned for future announcements regarding this.
How do I claim rewards?
WRT will be locked for now and unlocked shortly after WR TGE (Token Generation Event) and the first days of market trading over a short lock-up period (up to a few weeks depending on the volume farmed). TGE is currently scheduled for Q2 2022. If the farm also yields other rewards, they should be available to claim right after they appear in the WR UI. Rewards can be viewed through the farming panel on the platform.
Remember that if you do NOT leave your tokens deposited for the entire epoch, you will not receive any rewards.
It is worth noting that unlike some other DeFi projects, WingRiders has about 1/50th of the total token supply of, say, Minswap.
Here’s an example of how rewards work:
(Example: John provides 5,000 ADA worth of liquidity before the start of the third farming epoch and deposits his LPTs in a farm. On the second day of the third epoch, he withdraws his 2,000 ADA worth of LPTs from the farm and then removes 2,000 ADA value of his liquidity. The next day he realizes he doesn’t need the money and pays the liquidity back into the pool and also the LPTs into the farm. This means that for this third epoch he is only rewarded with 3,000 ADA- worth of liquidity as this was its minimum during that epoch.) This is clearly displayed in the UI. Just click on the tooltips (represented by “?”) next to the headings to understand what the number represents.
Disclaimer:
WingRider tokens do not carry direct or future profits or rights to funds or financial compensation. Buying or selling tokens from or to anyone else involves significant risk and potential financial loss. The WingRiders tokens are not investment or financial instruments, nor do they constitute any form of electronic money or payment service.
Stay warm this crypto winter, may summer come soon!
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