Boost-Lock $APY to Supercharge Your Yield! NEW TOKEN UTILITY ⚡
We are very excited to announce that boost-locking is officially live! $APY token holders can now head over to the boost-lock page via the APY.Finance dashboard to lock their held $APY tokens and begin earning boosted yield rewards.
Boost-locking is a token utility designed to reward users who have explicitly demonstrated a long-term commitment to the vision of APY.Finance by locking their $APY tokens in exchange for boosted rewards.
Further, we are excited to announce that the first 100 users who boost-lock at least 500 $APY tokens for 4-years will be eligible to mint an exclusive, randomized, APY.Finance NFT. Eligible boost-lockers will be able to mint their NFTs as part of an upcoming APY ASTRO NFT drop.
How to Boost-Lock
- Head over to the APY.Finance boost-lock dashboard.
2. Under the ‘Lock’ section, select your lock amount and duration.
3. Receive your ‘boost’.
How To Earn Boosted Yield Rewards From Boost-Locking
In order to begin earning additional $APY rewards as a result of boost-locking, users must first boost-lock $APY and begin earning boost.
Once $APY is boost-locked, and a boost is earned, a user will need to deposit, or have already deposited, stablecoins on the core APY.Finance yield farming platform accessed via the ‘yield’ tab on the dashboard. Boosted yield is then rewarded in the form of additional $APY tokens over time, in addition to stablecoin yield earnings.
FAQ
Q: What is boost-locking?
A: Boost-locking allows $APY token holders to lock owned $APY for set durations to earn boosted yield.
Q: How is my boosted yield determined?
A: Your amount of boosted yield earned is determined by your lock-score percentage relative to the sum of all users’ lock-scores.
Use a copy of this calculator to dynamically calculate boosted yield (created by community member @awinter).
Q: Can I earn rewards for boost-locking if I do not yield farm?
A: No. At the moment, boost-locking only impacts liquidity mining rewards. In the future, there may be additional incentives provided to those who boost-lock.
Q: Does boosted yield apply to stablecoin and $APY yield earned?
A: No, boost only applies to $APY rewards earned from yield farming. .
Q: How long can I boost-lock for?
A: Users can boost-lock amounts between 1 week and 4 years.
Q: When do boost-locked tokens unlock?
A: APY tokens unlock on the date selected by the user upon locking. Unlocks have a weekly epoch of Thursday. I.E. tokens locked will always be unlocked on the Thursday nearest to the unlock date (rounded down).
Q: Can I withdraw my locked $APY before it unlocks?
A: No. You can not withdraw $APY before it unlocks.
Q: Will my lock-score change over time?
A: Yes, your lock-score decays as the unlock time approaches. Users will be able to increase locked amount and extend unlock time before the lock expires.
Q: Can I boost-lock $APY tokens that are earned but not yet claimable (I.E. earned, but not yet vested $APY?)
A: No. Currently, you can only lock owned $APY that is already in your wallet.
Q: If I already have stablecoins deposited in the platform, do I need to deposit more in order to begin earning boosted yield?
A: No. Boost will apply to already existing deposits but you must lock APY.
Q: Why hasn’t my unlocked $APY returned to my wallet?
A: You need to manually withdraw unlocked $APY from the boost-lock page.
Q: My lock duration expired. Why can I no longer extend my lock?
A: Users can only extend the unlock time of locked $APY before it unlocks. Once it unlocks, users must withdraw before creating a new boost-lock.
Q: What is boost?
A: Boost shows a user’s position in a possible range of lock-scores given your account value and blAPY balance. The minimum boost is 1 and the maximum is 2.5
Q: What is blAPY?
A: A tokenized measure of user commitment. You get more blAPY for a longer time-lock or more APY locked. blAPY is non-transferable but is used in reward calculations to issue rewards every week.
blAPY balance = locked APY amount * (time to lock expiry / max lock duration)
Examples:
100 APY deposited for 1 year → 100 * (1 year / 4 years) = 25 blAPY
200 APY deposited for 6 months –> 200 * (0.5 year / 4 years) = 25 blAPY
100 APY deposited for 4 years → 100 * (4 years / 4 years) = 100 blAPY
Note that a smaller locked amount can be compensated for by a larger lock duration and a smaller lock duration can be compensated for by a larger locked amount.
Q: What is lock-score?
A: A user’s lock-score is a weighted average of a user’s account value and a portion of TVL as determined by blAPY balance and total supply. The score is capped to benefit smaller holders.
Uncapped score = 0.4 * deposit value + 0.6 * TVL * (blAPY balance / blAPY total supply)
Lock-score = min(uncapped score, deposit value)
Note: The minimal possible score is 40% of a user’s account value. Capping the score at account means the score can only be at most 2.5x the minimum score.
Q: Where can I learn more about boost-locking?
A: You can learn more about boost-locking, including insight into the escrow contract and specific formulas used to calculate boost-locking in our boost-locking spec here.
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