MASQ x Alchemist: New Staking Program — Crucible Rewards on Polygon!
Talk about an incredible trio of services that can come together to deliver a top-in-class staking experience— we are excited to announce that our friends at Alchemist will deploy a brand new Aludel rewards program for MASQ holders like we did last year… There is one difference though…
This time, the Aludel program will be on POLYGON! That’s right —non-Custodial staking & extremely low gas fees — the way it should be!
Let us first remind ourselves of what a Crucible is and what Aludel reward programs are:
If you already are an AlcheMASQ veteran, you can head straight to the Crucible website, change to Polygon network, and mint your own right away!
A Crucible is an ERC-721 NFT that can be stored in your wallet and can be used as a universal smart wallet for other ERC20 tokens. But Why?
Taking part in an LP staking program would usually mean transferring custody/ownership of your tokens to a rewards pool (Smart Contract) in order to accrue rewards.
Crucibles allow you to do things differently — they allow you to stake your tokens to non-custodial reward programs, locking the tokens without giving up possession of your tokens.
With Alchemist, non-custodial staking rewards programs are hosted for selected projects, and they call these Aludels. You can learn more about them here.
Aludel Reward Details
There will be TWO Aludel reward programs, allowing users to choose between two Liquidity Pools on Quickswap:
- MASQ-WMATIC: MASQATIC
- MASQ-WETH: MASQEREUM
The benefit of having two LP pair choices is that it allows the community to decide which assets they would like to have exposure to, while holding on to their sweet sweet $MASQ utility tokens (to use the upcoming software release no doubt!)
Key Aludel Program Dates and Metrics
12pm 11th May UTC — MASQ Aludel pools list on Crucible website
12pm 12th May UTC — $MASQ Rewards Begin
Pool 1 — Quickswap MASQ-MATIC LP Tokens
- Initial Reward Pool — 150,000 $MASQ tokens
- Initial Duration — 60 days
- Multiplier — 1-10x across 40 days
Pool 2— Quickswap MASQ-WETH LP Tokens
- Initial Reward Pool — 300,000 $MASQ tokens
- Initial Duration — 60 days
- Multiplier — 1–10x across 40 days
By design, there will be a few unique properties to the MASQ Aludel reward programs:
- Rewards are released over 60 days in the program, based on a steady-state time-release, so early larger holders don’t have an unfair advantage on day 1 before other members subscribe to the Aludels
- There is a built-in rewards multiplier from 1x-10x across 40 days, which means that users can claim full eligible rewards after at least 40 consecutive days remaining subscribed to the program — if you claim and unsubscribe before then, then you won’t receive all your eligible rewards accrued in that period. Also, if you ‘unsubscribe & claim’ any rewards then the multiplier will reset back to 1x.
Remember, subscribing to the MASQ Aludel programs for the long term gives you greater rewards!
If you’re familiar with Crucibles and you’ve subscribed to an Aludel staking program before, go ahead and get started here. Be sure to change the network to Polygon, so you can mint your new one for using on Polygon Network!
If you are new, don’t worry! Keep reading below for all the steps in detail from start to finish.
The steps will be simple:
- Mint a crucible
- Get some $MASQ
- Join the programs!
How to Join the Aludel Reward Programs:
1. Get your Crucible ready: Follow how to mint one here
2. Get some $MASQ tokens at the best rate multichain using our Rubic powered widget here, from QuickSwap directly, or bridge your $MASQ tokens from ETH to Polygon on the Polygon official bridge interface
3. Find the Pool you chose: MASQ-WETH or MASQ-MATIC and add liquidity on Quickswap
Subscribe LP Tokens to the Aludels
When open for subscriptions, the MASQ Aludels will appear on the Crucible UI under ‘Reward programs’ on the top Navigation Menu
Make sure the network is changed to Polygon, in the top right of the Crucible site
Click the MASQ Aludel you want to subscribe to and see what tokens are available to be deposited — MASQ-MATIC LP or MASQ-WETH LP
On each Aludel window, you can subscribe amounts of tokens from your available balance (either the Crucible or the Wallet) *but you must have a minted Crucible to join either Aludel* — enter the number of tokens you want to subscribe and click Join
There are Summary and Rewards screens that can be selected to roll out more information:
These will show you the value of your subscribed tokens, your accrued eligible rewards, multiplier progress, and more.
Happy MASQ MONTH OF MAY! #MMM
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