Weekly Update: Furnace Launch and New Partners
Adamant Furnace Launch — Gravity Finance
This week we saw the launch of Adamant’s Furnace. The Furnace allows users to smelt their ADDY to earn an Adamant partner’s asset. Smelted ADDY is distributed to ADDY lockers in our new boosted lock contract.
Our first partner as part of the launch is Gravity Finance. Gravity is a new DeFi protocol whose governance token is fully-backed by Bitcoin. The Gravity team has provided 4 million GFI so ADDY smelters can be rewarded GFI for smelting ADDY.
Partnership with SX Network
The next partnership for the Furnace was also announced this week. We’re excited to partner with the SX Network to offer $30,000 worth of rewards to ADDY smelters starting on Monday, August 23, 2021.
The SX Network combines a smart contract platform, on-chain community treasure, and prediction market protocol, all built on the Polygon SDK. Check out SportX and Sx.Technology for more on the SX Network.
This week was a big one for new vaults at Adamant. We’ve deployed or updated the following vaults:
- Gravity Finance: GFI/WETH and GFI/USDC
- Quickswap: ADS/USDC, MOD/USDC, HT/WMATIC, GBTS-USDC
- Hop: WMATIC/HMATIC, USDC/HUSDC, USDT/HUSDT
- Pearzap: PEAR/WMATIC + PEAR/USDC
- Stadium Arcadium: ARCADIUM/USDC, ARCADIUM/WMATIC, MYFRIENDS/USDC, MYFRIENDS/WMATIC
- Dinoswap: DG/USDC, ROUTE/WETH, FOR/USDC
- Polyquity: PUSD-USDC
Locking up ADDY
We’ve introduced a number of new ways to use your ADDY lately, and want to make sure you have those at hand:
- Deposit your ADDY/WETH to our LP for an amazing base APR, or lock it for even better returns. You can lock up to three years for a 3x boost. Learn more about that here.
- Lock your ADDY in our new boosted lock contract to receive autocompounded ADDY from early withdrawals and buybacks, WMATIC dividends, and boost rewards for your other vaults. Find out about the locked ADDY boost contract here.
- Stake your ADDY on Adamant to receive WMATIC dividends. You can withdraw it at any time. See how to stake here.
- Smelt your ADDY in the new Furnace to receive tokens from our partners. Our post on the Furnace is here.