Adamant Vaults on Cronos
Adamant is a yield optimizer platform that provides users with an easy and safe way to maximize their yield farming income. Adamant originally launched on Polygon, followed by Arbitrum, and today we officially start our journey on Cronos Network.
Adamant currently has around 30 vaults for CronaSwap, VVS, Crodex, and Elk, with more to come in the next few days.
To use Adamant, users deposit LP tokens to Adamant’s vault contracts, which are then automatically compounded into more LP tokens. Utilizing the power of exponential compound interest allows Adamant’s vaults to earn much higher yields compared to farming alone. Users also avoid gas fees and save time.
What is Auto-Compounding?
Auto-compounding vaults automatically sell the harvested awards to increase the size of your LP position. When you withdraw from an auto-compounding vault, you will withdraw more of your LP tokens.
Users can also manually compound for a vault if they wish to. Manually compounding for a vault does not stop the vault from auto-compounding.
When you withdraw from an auto-compounding vault, you will withdraw more of your LP tokens along with any CADDY that you have earned. Withdrawing from a vault will withdraw all of your staked tokens; partial withdrawals are not supported.
Adamant Token (CADDY)
Adamant Token (CADDY) is the native token on the Cronos Network platform and provides value for liquidity providers and token stakers. You can earn CADDY by using the vaults or by buying it on CronaSwap. Roughly 13% of all CADDY minted goes towards development to ensure rapid innovation.
Contract Address — 0x09ad12552ec45f82bE90B38dFE7b06332A680864
ADDY is mainly minted based on the profit generated through performance fees. 100 CADDY is minted for every 1 CRO earned in performance fees. The amount of CADDY minted for each CRO earned in performance fees will decrease over time.
The CADDY token does not have a maximum supply hard cap, but eventually token burns will cause the supply to decrease.
Because CADDY emissions are based on the profit generated through performance fees, that means excess supply won’t flood the market during periods of low revenue, like bear markets. This ensures that CADDY will retain its value better than most tokens during suboptimal economic conditions.
Adamant has a proven track record of safety on our other chains (Polygon and Arbitrum) and we will continue to hold security in a high regard. Our contracts are also audited by the professional blockchain firm CERTIK.
The differentiating factor in a lot of yield optimizers is the fee structure. Here is a breakdown of the fees for Adamant.
Unless otherwise indicated, most vaults have a 30% performance fee, but for every 1 CRO in fees collected, you get 100 CADDY.
Up to 50% of the performance fee is added to platform-owned liquidity. The remainder of the performance fee is distributed to vesters, stakers, and lockers in the CADDY vault as WCRO.
Early Withdraw Fees
There is a withdrawal fee of 0.5% for early withdrawals within 72 hours for all vaults.
The majority of the vaults do not have a deposit fee. Only vaults for platforms with a deposit fee (i.e. Qi Dao) have a deposit fee.
You can earn CADDY from using Adamant’s vaults or you can purchase it from Cronaswap.
Freshly minted CADDY is considered vested until the 90 day vesting duration expires or it is withdrawn from the fee distribution contract with a 50% penalty. Vested CADDY earns performance fees.
Users can choose to stake CADDY and earn performance fees. Staked CADDY can be removed at anytime with no penalty.
Users can also choose to “lock” CADDY within the BASIC LOCK or LOCK PLUS contract for a duration 91–1460 days. Locked CADDY cannot be withdrawn prior to your end lock date — it is NOT possible to pay a penalty to withdraw locked CADDY early.
Please note that it is not possible to directly lock vested CADDY. It needs to be withdrawn first (50% penalty), then locked.
Locking demonstrates a commitment to the long-term vision of Adamant. Along with receiving performance fee dividends, users who lock CADDY receive 100% of the penalty fees paid by users who withdraw vested tokens.
Users will have the ability to lock CADDY and earn performance fees (WCRO) + early withdrawal penalty fees (CADDY). Both of these tokens will be available immediately for withdrawal.
Users lock CADDY and earn performance fees (WCRO) + early withdraw penalty fees (CADDY). The WCRO is available for withdrawing, but all CADDY is autocompounded back into Lock Plus.
Locking in either the Basic Lock or Lock Plus contract gives users Boost Points. Boost Points boost to the CADDY earned by staking in normal vaults. Refer to the docs for more information about the Boost Point system HERE.
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Adamant Finance Links