Cross-chain Farming V2
Symbiosis Reward Program: By providing liquidity in the form of stable assets to the Symbiosis Octopool, which is used to run cross-chain operations, users earn on their assets.
By providing liquidity in the form of stable assets to the Symbiosis Octopool, which is used to run cross-chain operations, users can earn on their assets while also contributing to the growth and liquidity of the DeFi ecosystem.
The Symbiosis protocol V2 owns an AMM multi-stablecoin liquidity pool to implement cross-chain operations.
Once you supply liquidity to this liquidity pool, you get rewards* from Symbiosis every week as long as your liquidity stays in the pool.
If your liquidity stays in the Symbiosis liquidity pool and you have joined the veSISreward program as well, you get Boosted APR instead of Base APR.
When you withdraw your liquidity, you get your assets back and your share of the liquidity provider fees.
The liquidity provider fees are charged for all swaps performed on the AMM pool. The fees taken during trades are added to the total liquidity of the pool. When a liquidity provider withdraws their assets from the pool, they also receive a proportional share of all fees collected since the liquidity was first added. This mechanism is a part of the AMM pool protocol. The main points here:
- You get rewards once: when you withdraw liquidity,
- The rewards are in the tokens of the pool,
- The reward amount depends on the trading activity in the pool and is hard to predict.
Symbiosis provides a cross-chain farming program to reward its liquidity providers additionally. The main points of the program:
- You get rewards every week as long as your liquidity stays in the pool,
- The rewards are in SIS tokens, the Symbiosis protocol token. For more information about the token (rates, Tokenomics, etc.), please refer to SIS Token of Symbiosis.
- The reward amount is predictable,
- Liquidity providers can withdraw assets at any time,
Cross-chain farming V2 is a part of Symbiosis protocol V2. The service:
- 1.Recalculates APRs of the Symbiosis liquidity pool,
- 2.Monitors adding/withdrawing liquidity to/from the Symbiosis liquidity pool,
- 3.Calculates and accrues rewards to liquidity providers (once a week),
- 4.Tracks reward withdrawal.
APRs of the Symbiosis V2 liquidity pool are calculated and charged in SIS tokens.
For every stablecoin in this pool, there are two APR values:
- Base APR shows the estimated annual rate for providing liquidity.
- Boosted APR shows the estimated annual rate for liquidity providers who have veSIS tokens. The threshold for Boosted APR is 2,500 veSIS tokens. For more information on veSIS refer to this guide: veSIS.
Rewards are calculated and accrued once a week and added to the personal rewards balances of liquidity providers. A portion of the rewards are immediately available for withdrawal; another portion is withheld and becomes partially available for withdrawal and can be claimed in full at the end of the vesting period.
- The vesting period is 26 weeks (approximately half a year) for rewards earned prior to March 2, 2023. The vesting period is 8 weeks (approximately two months) for rewards earned on or after March 2, 2023.
- The portion of the rewards that is immediately vested is 30%.
- The vesting portion of the rewards (the part of rewards held aside becomes available for claiming partly and can be claimed in full at the end of the vesting period) is 70%.
Let's consider an example. A user added 10 tokens to a liquidity pool, kept them there for one week, and then withdrew the tokens. Let's assume that the reward for one week of providing this amount of tokens in this pool is 1 SIS. Let's assume that the user does not claim rewards partly when they become available for claiming. Then (it's for the half a year vesting term):
- 1st week: 0.3 SIS is available for claiming, and 0.7 SIS is held aside,
- 2nd week: (0.3 + 0.7/26) SIS is available for claiming, and (0.7 - 0.7/26) SIS is held aside,
- 3d week: (0.3 + (0.7/26) * 2) SIS is available for claiming, and (0.7 - (0.7/26) * 2) SIS is held aside,
- 26th week: (0.3 + (0.7/26) * 26) SIS is available for claiming, and (0.7 - (0.7/26) * 26) SIS is held aside -> 1 SIS is available for claiming, and 0 SIS is held aside.
Symbiosis does not charge compound interest on rewards that are not claimed.
Symbiosis starts paying rewards automatically once you supply assets to the Symbiosis liquidity pool.
- 2.Connect your wallet. If you have enough veSIS you will see that you are eligible for Boosted APR:If you would like to get Boosted APR, you should have at least 2,500 veSIS tokens. Please note that every week part of your veSIS tokens turns into SIS tokens (your weekly reward for locking SIS tokens). To get veSIS tokens, press Get more veSIS. For more information on veSIS rewarding program, refer to this guide veSIS
- 3.Press the Manage button below the loken you are going to add. For instance:
- 4.Press Check Pool:
- 5.Add tokens to the pool. Once tokens get added, you will see them in the pool:For more information about how to add and manage your assets in the liquidity pool, refer to this guide Liquidity Pools.
The rewards available for claiming can be claimed in full. You cannot claim rewards partly or claim rewards for a particular stablecoin.
You can claim all rewards available for claiming right away or claim rewards later.
To check and claim rewards:
- 2.Connect your wallet, and select the account you used to add liquidity to the liquidity pool:
- 3.Press the Claim all button and confirm the operation in your connected wallet.
Octopool and Symbiosis Reward Programs (veSIS on Ethereum/BNB chain, LP Farming on Ethereum/Arbitrum) are integrated with the De.Fi Dashboard. The integration allows you to view all your assets deposited in Symbiosis with De.Fi.
How to check:
- 1.Just go to De.Fi, connect your wallet or enter the address you used to deposit assets to veSIS and/or to Symbiosis Octopool, and scroll down to the protocols section:
- 2.Click the protocol name to see details: