Planet has taken a major leap forward with these new updates. This is one of the biggest releases for Planet thus far. Everyone should be excited about what this means for the expanding utility of GAMMA.
GAMMA now has 3 major utilities (with more to come):
- Earn more when supplying assets on Green Planet (vaults)
- Pay less to borrow assets on Green Planet
- Earn more for supplying liquidity to pools
Planet is the first protocol to launch this “dual-sided utility” for GAMMA on lending markets in DeFi.
Thanks to everyone in the community for their patience over the last few months. Everyone contributing to Planet has been focused on creating new value for the protocol.
What’s New
- New AQUA Infinity Vault
- New GAMMA Infinity Vault
- Track your total GAMMA earned in the Infinity Vault
- 5 New Pools, with the new “Boost APY” utility
- “Boost APY” now live for the supply side of Green Planet markets
- One-click claim your Pool earnings
- Swap improvements
- Reduced gas fees (30–65% cheaper)
Infinity Vault fees have been set to zero on the old vaults so that everyone can transition over to the new vaults. If you are deposited in both the AQUA Infinity Vault and the GAMMA Infinity Vault, please unstake from the AQUA IV first. When you do withdraw, your pending GAMMA will stake to the GAMMA Infinity Vault.
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New AQUA Infinity Vault
- Stake AQUA directly now
- When unstaking you will now receive AQUA directly
- GAMMA rewards accrued are now included & claimable in “pool earnings” since the reward allocation is from the farm. When claimed they will be auto-staked in the GAMMA Infinity Vault just like before.
What to do: Instant unstake any AQUA that you have in the Infinity Vault on the V1 vaults page. When you do it will be sitting in the AQUA market under your “My Vaults” section. Then withdraw the AQUA from that old market so that you receive AQUA in your wallet. Once you have AQUA you can go to the new Infinity Vault and just stake AQUA directly into it.
New GAMMA Infinity Vault
- Stake GAMMA directly now
- When unstaking you will now receive GAMMA directly
- Track your total GAMMA earned. This will start counting any GAMMA earned after depositing into the new GAMMA Infinity Vault.
- Massive gas fee optimizations
Staking in the GAMMA Infinity Vault comes with its benefits. Not only does it unlock 3 massive utilities for GAMMA but the Infinity Vault enables you to earn significantly more GAMMA.
What to do: Instant unstake any GAMMA that you have in the Infinity Vault on the V1 vaults page. When you do it will be sitting in the GAMMA market under your “My Vaults” section. Then withdraw the GAMMA from that old market so that you receive GAMMA in your wallet. Once you have GAMMA you can go to the new Infinity Vault and just stake GAMMA directly into it.
5 New Pools with the Boost APY Utility
- AQUA-BNB
- GAMMA-BNB
- BNB-BUSD
- BTCB-BNB
- ETH-BNB
What to do: If you have any LP tokens deposited in these pools on Pools V1, all you have to do is withdraw your LP tokens and then deposit them into the new Pools. You do NOT need to remove liquidity manually or “Convert LP”.
How does GAMMA’s Boost APY work?
All pools and lending markets now have a new variable called Boost Percentage. This determines what % of the GAMMA allocated to this pool or market can be earned by depositors with no GAMMA vs. depositors with different amounts of GAMMA staked.
Simply put, stake more GAMMA to earn more, faster.
Example:
Let’s say that the BNB-BUSD market is incentivized with 1,000 GAMMA/day (from the farm) and the Boost Percentage is set at 50%.
This means that 500 GAMMA is up for grabs based on your % of the total assets in the pool. This also means that the other 500 GAMMA is now up for grabs depending on your LP balance + your GAMMA staked in the infinity vault.
User factor = the square root of (LP balance + Infinity Stake)
Total factor = sum of all user factors
Users share of boost tokens = boost tokens* user factor / total factor.
Trade Fee APY: Liquidity providers are earning trade fees as users use their liquidity to swap assets. This is earned proportionately to your % of total assets in the pool. If you have 10% of the total liquidity, you’ll earn 10% of the trade fees that LP providers earn.
GAMMA APY: This is GAMMA allocated to the pool from Planet’s farm. This is earned proportionately to your % of total assets in the pool. If you have 10% of the total liquidity, you’ll earn 10% of the GAMMA allocated to the pool you’re in.
Boost APY: This is a % of the GAMMA allocated to the pool from Planet’s farm. All pools now have a Boost Multiplier. If you’re not in a pool/vault, the number shown will be the average Boost APY. Once you’re deposited this Boost APY will show you your true numbers based on your deposit amount.
Boost Percentage: Defines what % of GAMMA allocated to a market/pool is up for grabs by those who have GAMMA in the Infinity Vault.
One Click Claim Your Pool Earnings
Now, all GAMMA earned from Planet’s farm can be claimed with a single click. Claiming your Pool Earnings includes GAMMA earned from any liquidity pools as well as any GAMMA you’ve earned from using the infinity vaults that was allocated from Planet’s farm contract. When you claim your earnings it will be auto-staked for you inside of your GAMMA Infinity Vault.
Swap Improvements
Planet has an updated navigation that’s simpler to use than before. Routing has been optimized so data should load faster now. If you click on a drop down to see the list of tokens, your balances are now ordered by highest USD value first. There’s more swap improvements to come over the following weeks.
Gas Fee Optimizations
There’s been major gas fee optimizations that reduce fees for several different transaction types on Planet. Most are reduced between 30%-65%. For example depositing LP tokens on the old version of Planet, on average costs $0.42. After these new optimizations the average cost to deposit LP tokens in $0.21.
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Be on the lookout for the launch of Planet’s stableswap, referral incentives & more to come.
Join The Planet Community
Website: https://planet.finance/
Twitter: https://twitter.com/planet_finance
Telegram: https://t.me/planet_finance
Discord: http://discord.gg/wkbDJrsAbX
