We recently released boosted ADDY/ETH LP that allowed users to earn up to 3x ADDY by locking ADDY anywhere from 1 week to 3 years.
After much anticipation from the community and hard work from the dev., we are ready to introduce our Boost for Locked ADDY!
Summary of Locked ADDY Boost
Once you have a balance of ADDY within your wallet, either by earning it or purchasing it, you can choose to “lock” it for 91 days (3 months) to 1460 days (4 years). Locked ADDY cannot be withdrawn until the lock has ended — it is NOT possible to pay a penalty to withdraw locked ADDY early.
(Please note, it is not possible to directly lock vested ADDY. It needs to be withdrawn first, then locked.)
Locking demonstrates a commitment to the long-term vision of Adamant. Along with receiving WMATIC performance fee dividends, users who lock ADDY receive:
- 100% of the penalty fees paid by users who withdraw vested token
Distribution of exit penalty fees begins immediately when a vested user withdraws early, and are released evenly over the following seven days. ADDY earned by locking ADDY is automatically compounded into a user’s locked stake and inherits the same locking period.
- 100% of ADDY from buybacks
Early withdrawal fees from normal vaults and a portion of the performance fee will be used to buyback ADDY to distribute to locked ADDY stakers.
- A boost to the ADDY earned by staking in normal vaults
A longer lock duration will increase the ADDY boost points obtained. One ADDY token locked for four years is equal to one ADDY boost point. (This is similar to how Curve’s voting-escrowed CRV system works, where one CRV token locked for four years is equal to one veCRV.) After reaching certain point tiers, ADDY earnings from staking in normal vaults will be increased.
The boost does not apply to “special” vaults like the main ADDY/WETH vault for Quickswap.
Current ADDY earning boost table:
Earning boosts will be rolled out for vaults over the next few weeks. Currently, earning boosts are not active for any vaults. A list of them will be updated on this page. This boost will notapply to the ADDY/WETH pool from Adamant.
After an initial trial period, old locked ADDY in the fee distribution contract will also grant the user ADDY boost points.
How to Boost Locked ADDY
Step 1: Visit the Stake + Vest ADDY page on adamant.finance
Step 2: Click ‘OPEN LOCK WINDOW’ on the bottom right-hand side of the page
Step 3: Click ‘APPROVE TOKENS’
Step 4: Input the number of tokens you want to lock and input the lock duration. Take note of how the lock duration impacts the ADDY boost multiplier. Click either ‘LOCK X ADDY’ for a partial lock or ‘LOCK ALL ADDY’ to lock all of your available ADDY tokens
Step 5: Confirm the transaction in MetaMask
Step 6: View your Locked ADDY dashboard for information on how much ADDY you have locked, your boost points, your earning boost %, and the unlock date.
You can also track the APY % for ADDY + WMATC and how much locked ADDY is in each contract.
Frequently Asked Questions
- When will I receive my ADDY rewards from staked and locked ADDY? Do I get to claim ADDY now and WMATIC? The rewards inherit the same lock period as your original lock. You can claim your WMATIC dividend at any time once it has accrued. You will need to wait for the lock period to end to withdraw your ADDY, any ADDY from buybacks, and autocompounded ADDY rewards.
- What if I have ADDY locked in the old contract, will I receive the vault boost? After an initial trial period, the old locked ADDY in the fee distribution contract will also grant the user ADDY boost points for vaults. The new contract will need to be utilized to receive the additional autocompounding ADDY rewards.
- If I am in the old ADDY contract can I move to the new one? It’s not possible currently to move your locked ADDY from the old contract to the new one (created on July 13, 2021). Those will need to go through the remaining lock period and can then be locked in the new contract. (This may change in the future.)
- Can I have separate lock windows? For example, one lock ending in 4 years and one in 91 days? You may only create one lock window. If you choose to stake and lock afterward from the same wallet that ADDY will inherit the same locking period. For Example, If you lock ADDY as of this writing for 4 years, it would be set to release on 14 JULY 2025. If tomorrow you decided to lock more ADDY but chose 3 months, it would be set to release on 14 JULY 2025 because the furthest date back is 4 year date. If tomorrow you locked ADDY for 4 years, ALL of my ADDY would release on 15 JULY 2025 because that four-year date from tomorrow is the furthest date. The minimal locking period is 91 days.
- If my lock expiration window is under 91 days away, does locking more ADDY to it extend that? The shortest lock window for any ADDY is 91 days. If you lock any ADDY to your lock window, and it is under 91 days from expiring, the entire stacked lock will be extended to 91 days. Let’s say the window is 60 days from expiring currently, and you lock more into it. The lock for all of the stack will now be 91 days.
- Do the ADDY boost points apply to all vaults or just some? What about the ADDY/WETH vault on Adamant? The boost will not apply to the ADDY/WETH vault. An updated list of boosted vaults will appear here.
If you have any additional questions please join us in Discord or Telegram.
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