Belt Finance r4BELT Usage Guide
Last week, we released the details of the remedy 4Belt (r4BELT) token and how it will be used. You can read that full post here. r4BELT will be used as a tool to give additional yield on top of 4Belt yield as compensation for affected users.
The additional yield generated by r4BELT will amount to about 8% of the overall emissions. On top of the base amount of 20% from the 4Belt Pool, there will be an additional 5% and 864 BELT/day (this is from the team build allocation, amounting to 67% of the unlocked portion). In total, this amounts to about 8% of emissions for a total of about 28% of emissions for r4BELT users.
On June 18, affected users were airdropped the tokens in proportion to how much 4BELT they had on block 7839266. The address for the r4BELT token is: 0x442d5E02276954cA61F272635Cdad07dD7992120.
On June 24, users will be able to use their r4BELT to start getting this additional yield by adding their 4BELT and r4BELT to the new “REMEDY” tab in the 4Belt BLP pool on Belt Finance.
This is a step-by-step guide on how to do so.
Step 1: Unstake whatever 4BELT BLP you have staked on Belt Finance or other protocols.
Step 2: Once you unstake, you will see your 4BELT BLP in the “Balance” section. Once you have 4BELT BLP showing in the balance, click on the “REMEDY” tab.
Step 3: On the “REMEDY” tab, you should see that you have balance for 4Belt and r4BELT. If you did not move or sell any 4Belt following block 7839266, you will have an equal balance of r4BELT. Click the balance for either to max it out or type in the number of 4Belt/ r4BELT you would like to stake. Keep in mind that they must be deposited in a 1:1 ratio to receive the additional remedy yield.
Step 4: Once you input the numbers for however much you want to stake, you will have to approve 4BELT BLP and R4BELT in your wallet.
Step 5: Once you have approved both tokens, you can now press “Add Liquidity” to deposit your tokens into the contract.
Step 6: You will have to confirm the transaction in your wallet.
Step 7: Once the transaction is confirmed, you will now have your 4BELT + r4BELT staked.
When this process is complete, you will be receiving a boost in BELT rewards for a higher overall APR. You can see the breakdown of APR as 4Belt APR + Remedy APR. The 4Belt tokens you staked will also have their value go up through Belt Finance’s multi-strategy base yield from our strategy protocols.
