The much-awaited Phase One rollout of Tokenomics will happen tomorrow! So, what exactly is going live? Planet’s FarmV3 with the following three pools
- GAMMA-BTCB
- Locked pool
- Lock time: 6 months
- You will always receive rewards for this pool.
- Holding a minimum of 5% in this pool makes you eligible for GAMMA rewards across all Planet’s pools. But don’t stop at 5% because beyond the minimum 5%, the more you deposit into this pool, the more you earn across all pools in Planet!
- To make it easy to meet eligibility requirements for the rewards, when zapping into any pool, you can put a certain percentage into GAMMA-BTCB directly with one click.
2. AQUA-BTCB
- Locked Pool
- Lock time
— 3 months: 1x Rewards
— 6 months: 1.4x Rewards
— 12 months: 2x Rewards - Voting power: 1x for your aqua in the LP token in the pool. Voting power increases as per the lock time.
- Holding a minimum of 5% of your total supply in the GAMMA-BTCB pool is necessary to earn gamma rewards in this pool. If not, you will only earn trade fee APR.
3. AQUA
- Lock time: 6 months
- Voting Power: 5x for your aqua in the pool
- Future airdrops and/or revenue share
For those of you wondering about your tokens supplied to Thena pools, they will continue to receive rewards from the old farm till we migrate them to the new farm (set to follow in a few days).
Reward Eligibility Criteria.
- To be eligible for rewards, the USD value of your locked GAMMA-BTCB must be greater than 5% of the USD value supplied to all other pools.
- For example, suppose you supply $1000 worth of AQUA-BTCB to the AQUA-BTCB pool and $100 of GAMMA-BTCB to the GAMMA-BTCB pool. In that case, your locked percentage is 10%(assuming you have not supplied to any other pools). This is more than 5% of your total pool deposits, excluding GAMMA-BTCB, so you are eligible for Planet Farm GAMMA rewards.
- When you are not eligible for rewards, you will still continue to receive trade fee rewards and parent APY rewards(in the case of aggregated pools like Thena/PCS pools) but forfeit Planet Farm GAMMA rewards.
- You will receive Planet Farm GAMMA rewards for the GAMMA-BTCB pool, as the GAMMA-BTCB pool is exempt from the 5% rule.
Collecting Rewards
When collecting rewards from the farm, you have three options
- Claim Rewards to Vesting Vault
By default, rewards vest after three months. You can collect the rewards and send them to the vesting vault. Once the rewards are vested, you can collect your rewards to your wallet from the vesting page.. - Deposit rewards into GAMMA-BTCB Pool
Instead of vesting vault, you can choose to convert the rewards to GAMMA-BTCB and supply to the pool to get boost across Planet pools. You will also receive rewards on the GAMMA-BTCB pool. There is an extra option of specifying the percentage of BTCB you want to pair along with your rewards to go to GAMMA-BTCB pool. - Withdraw Rewards Instantly
You can also claim the rewards instantly to your wallet by forfeiting 50% of your rewards.
Bounty Hunting
You already know you receive GAMMA rewards if you hold at least 5% of your total pool deposits in GAMMA-BTCB. What happens when your GAMMA-BTCB deposit falls below 5% due to price fluctuations? We do have a tolerance of 5%. However, other users can bounty hunt your rewards accrued since your last transaction on the farm if you fall below that. A part of the bounty hunted rewards go to the protocol, which will again used to buy gamma and buy and burn AQUA.
Let’s take an example to understand how bounty hunting works.
- Say you initially supply $1000 worth of AQUA-BTCB to the AQUA pool and $55 of GAMMA-BTCB to the GAMMA-BTCB pool. This gives you a locked percentage of 5.5%, making you eligible for rewards since it’s above the 5% threshold. However, due to price fluctuations, the value of your GAMMA-BTCB drops to $44. Now, your locked percentage decreases to 4.4%, falling below the required 5%. So, you become vulnerable to bounty hunting.
- Other users can use the bounty hunting feature on Planet to claim your last accrued rewards. You lose the gamma farm rewards accrued since your last transaction if you are successfully bounty hunted.
- Once bounty hunted, you will no longer receive rewards. Following a successful bounty hunt, you will only receive gamma rewards once you engage in a transaction that boosts your locked percentage above the 5% mark.
- This mechanism requires users to actively monitor their investment proportions, especially in light of market volatility, to ensure continuous eligibility for rewards. The bounty hunting feature introduces a community-driven regulatory aspect to the reward system, compelling users to maintain their eligibility or risk losing accrued rewards.
Contract addresses and fees
- GAMMA-BTCB LP — 0x43d427dF6957e180497248CaDc30cE7aa716FE52
- AQUA-BTCB LP — 0x70B606c23D6E786BE7accAf31C8fEcEaf846AdF3
- Farm V3 — 0x405960AEAad7Ec8B419DEdb511dfe9D112dFc22d
- GAMMA-BTCB — 0xaDb34c8D63848EAf5760d8D1dE776bBAe3D044a8
Entrance fee — 0.1%
Withdraw fee — 0% - AQUA-BTCB — 0x2C7EA70259DD5153b7f8bAB177126fce850bFB1d
Entrance fee — 0.1%
Withdraw fee — 0% - AQUA — 0x72B7D61E8fC8cF971960DD9cfA59B8C829D91991
Entrance fee — 0.1%
Withdraw fee — 0% - Eligibility provider — 0x7f7c6fdeE9aCc2834A0D7325DcEe86f67Af2CF85
- Convert to boost — 0x2cfed1838844346D4cf3b7f2522b9665CDB2AB6d
- Migrate — 0xabf89620Ae35E18E0bFF26c3C5c1aa21D5C16e2b
- Zap V3— 0x12f8839D91BBEFf0fF75401a01c98734f70D1591
Why should you be excited?
- BNB’s price has been like a rollercoaster. And that’s impacted AQUA and GAMMA. Bitcoin has always been the gold standard of crypto. With the Bitcoin ETF approved, we will likely see more stability and interest in Bitcoin. This is good news for AQUA and GAMMA when paired with BTCB. Imagine BTCB as the steady force that keeps things grounded. As BTCB goes on its journey, likely heading upwards, AQUA and GAMMA are set to follow suit. It’s like they’re hitching a ride with a very reliable driver.
- We also give BTCB utility on Planet as you no longer just have to stake GAMMA to earn more GAMMA. You need to stake
- Talking about the locked pools, the little rule where you must keep at least 5% in GAMMA-BTCB will surely be a game-changer. This rule will keep the liquidity in the GAMMA-BTCB pool solid. For the big investors looking to make major moves, this is great. They can jump in, do their thing, and not worry about price impact or causing too much of a stir in the market.
What about GAMMA Infinity vault?
- GAMMA Infinity Vault will continue to give rewards to Green Planet for now. As part of the phase two delivery of tokenomics, once the PCS pools are live, GAMMA-BTCB will count for boost for both pools and Green Planet.
- There will be no instant withdrawal fee for seven days, so you can withdraw your gamma and zap into GAMMA-BTCB if you want to boost your pool deposits or support the platform for more liquidity.
How to Migrate
- Hover over the ‘Pools V3’ menu item in the platform.
- Click on the ‘Migrate’ button to start the process.
- Connect your crypto wallet to the platform.
- It will show only the pools relevant to your current holdings.
- For each pool, click ‘Migrate’ and confirm the transaction in your wallet.
- Typically, the transactions include withdrawing from old pools, breaking liquidity, approving the tokens, and zapping into new pools.
What’s Coming Next
- Thena pools: Migration of Thena pools from FarmV2 to FarmV3 will happen next week. You can again go to the migration page and do a one-click migration.
- New Thena pools: We will add more high APY thena pools to the new farm
- Pancake V3 aggregation
Once the farm migration is complete, we will focus on going live with Pancake V3 aggregation. - AMA — we will have AMA in the middle of February
- Medium article on next steps and direction
- We have been brainstorming a lot of narratives for Planet. After sensing your thoughts in the AMA, we will finalize the decision and propose to the community in early March.
- Some of the narratives we are looking into are going to popular L2s supporting protocols, eigen layer restaking, and even exploring Bitcoin-based protocol as its ecosystem is picking up too.
FAQs
- I don’t want to know all this. What do I need to do right now?
— Go to the migrate page, and you will find an option to migrate GAMMA-BNB, GAMMA-BTCB, and AQUA. Click on migrate on each of these to migrate to the new farm.
— If you wish to move some of your GAMMA to GAMMA-BTCB, then instant unstake from GAMMA-infinity vault and zap into GAMMA-BTCB. If you wish to add BTCB along with your GAMMA, then you can add liquidity too from the swap -> liquidity page - My migration stopped in the middle. What do I do?
— restart the migration, and the process will continue. - Wen moon?
— SOON™
Talk to you all in the AMA.
