When using Snowball’s auto-compounder, there is one important question that must be answered:
“Which pool do I want to deposit into?”
To which we now say:
“The best one! Obviously.”
With the introduction of Snowball’s optimized pools, there is no more ambiguity to what this means.
We’ve always offered many options fo pools for depositing tokens such as $USDC.e:
It might be tricky to choose which platform to support and which pool to deposit into. All of them are based on mature protocols on Avalanche with very high safety standards and a great track record (which is why Snowball utilizes them for our pools).
In regards to the $USDC.e example above, it might be the case that our strategies are currently offering a slightly higher rate on BenQi than Banker Joe, but as we all know the DeFi market can be volatile and liquidity moves around very quickly. It is completely possible that Banker Joe could have better rates tomorrow or next week, and BenQi could retake the top spot right after, or even that Aave could change its reward structure and suddenly offer the best rates.
Long story short, monitoring the DeFi space and making sure your assets are netting you the best yields possible is tough and the gas fees can accrue quite quickly depending on how often you update you allocations.
Optimized Pools solve this issue. These pools remain flexible to wherever the best yield can be achieved and are updated daily to ensure your funds are following the best strategy possible.
If the best yield changes for the assets you’ve deposited, within 24 hours the pool will be updated to utilize the platform offering those rates. You will not need to spend time or gas to move your funds between platforms.
Snowball’s Optimized Pools currently support $WAVAX, $DAI.e, $WBTC.e, $USDT.e, $USDC.e, $ETH.e and $LINK.e deposits, which will fetch the best rates possible between BenQi, Banker Joe and Aave lending pools.
Head to our auto-compounding page and check out the rates available!
About Snowball
Snowball is a Venture DAO and an auto-compounder for liquidity rewards. It was the first auto-compounder launched on Avalanche and it prides itself on being entirely community run. If you’d like to be a part of Snowball, join the conversation in Discord or Telegram. Stay up to date on our Twitter.
