We are excited to announce that Furucombo has recently been allocated a total of 59,500 $ARB tokens as part of the Arbitrum STIP grant program provided to protocols that have been and continue to contribute to the Arbitrum ecosystem. This means that everyone that performs trading actions on the Furucombo Lending Dashboard will be able to take part in this campaign and earn $ARB tokens!
Our Adventure $ARB Wonderland campaign aims to teach people to learn the tools that Furucombo provides, and to perform real trading actions on our platform to make their experience on-chain seamless and composable.
This includes our most lucrative tooling, which is position management from our lending dashboard. This encapsulates the Flashloan functionality to manage positions without any upfront funds including:
Additionally, Furucombo provides many other kinds of tooling, such as multi-swaps, multi-send, fiat to crypto, bridging to and from 7 chains, and more.
Through the services we provide on Arbitrum we want our users to feel more comfortable using DeFi from our easy to use interface. The focus of this campaign however will be on our Lending Dashboard product.
To learn how to set up a position and manage it using Furucombo, you can follow our Lending Dashboard tutorial. If you need any help at all, please don’t hesitate to ask us on our community Discord.
Allocation of Funds
100% of the grant funds will go back to users who perform actions on the Lending Dashboard as part of our campaign. Users who perform transactions on Furucombo can earn back some rewards in $ARB tokens based on their volume. The reward metrics are as follows, and are subject to change or be adjusted as necessary by the team:
Total Rewards: 59,500 $ARB tokens
Rewards allocated towards position management on Radiant, Aave, or Compound (Lending Dashboard):
- Rewards will be allocated towards ANY trading action on the Lending Dashboard (Deposit, Withdraw, Repay, Borrow, Collateral Swap, Debt Swap, Leverage, and Deleverage functions)
Transactions on the Lending Dashboard will follow this scale for rewards:
- Minimum threshold for the bi-weekly disbursements will be set at $1,000 in volume. If a minimum threshold is not met, the rewards will be carried over to the subsequent week. If by the end of the campaign the reward threshold is not met, all the available rewards will be disbursed to all users who did not meet the minimum.
- If a user trades $10,000 total volume for their position management, they will earn 25 $ARB tokens, or equivalent to $25USDC at the current price of $1 per ARB based on the reward milestones listed below.
- This ratio will continue up to $50,000 total volume in order to hit the next milestone. At $50,000 the rewards will be scaled up to 0.0026 ARB per $1 in volume. This includes any of the previous volume, therefore these can be considered milestones. If a certain reward milestone is hit, then that user will earn in the higher reward pool for all the combined volume, not just the volume in that bracket.
Reward Milestones for Lending Dashboard
- Milestone 1: Less than $10,000 in Lending Dashboard initial position volume (or flash loan volume) = 0.0017ARB per $1 in volume
- Milestone 2: From $10,001 to $50,000 in Lending Dashboard initial position volume = 0.0018ARB per $1 in volume
- Milestone 3: From $50,001 to $100,000 in Lending Dashboard initial position volume = 0.0019ARB per $1 in volume
- Milestone 4: From $100,001 to $500,000 in Lending Dashboard initial position volume = 0.002ARB per $1 in volume
- Milestone 5: From $500,001+ in Lending Dashboard initial position volume = 0.0022ARB per $1 in volume
Timeline of Campaign
The campaign will run from January 8th, 2024 from 08:00EST, to March 28th, 2024 08:00EST. Any time in between, users can perform trades on Furucombo to earn in the campaign rewards.
Tracking Rewards
You can track the rewards via the Dune Dashboard page.
Rewards will be distributed to users once tranches of payments have been made to Furucombo from the Arbitrum foundation. Upon receiving the bi-weekly rewards, the Furucombo team will do an internal review of the volume and reward breakdown to ensure that there are no participants attempting to game the system. Once the details have been finalized internally, we will share with the community for a 3 day review period via our community Discord. Once the community has had a chance to review any discrepancies, we will release that set of rewards.
