The s3F StableVault went live last week, allowing users to swap FRAX, TUSD, and USDT with low slippage and low fees.
In the coming months, lending protocols will be launching on Avalanche (Benqi, BzX). StableVault is in a position to integrate with these protocols and boost APRs for liquidity providers. However, until this happens, we realize there is little incentive to deposit into StableVault.
To encourage liquidity deposits in the interim, we are announcing a one month incentive program that will distribute 80,000 SNOB to liquidity providers of this pool. This program is set to end around the time the first lending protocols arrive on Avalanche and aims to give liquidity providers the chance to prepare before integration.
Incentive Details
Total rewards: 80,000 SNOB
Start date: Tuesday, April 27
End date: Thursday, May 27
Participation: Stake your s3F tokens on IceQueen to receive rewards.
Where are These Incentives Coming From?
In order to officially send a portion of SNOB emissions to the s3F StableVault, a governance proposal would need to pass a distribution adjustment. We expect this is happen; however, proposal discussion, agreement, and voting take time. The 80,000 SNOB for this program will be funded by the Snowball DevFund.
What is the s3F StableVault?
The s3F StableVault is the liquidity pool for FRAX, TUSD, and USDT stablecoins. By depositing any one of these stablecoins into the StableVault, you are adding liquidity so that other people can trade between different stablecoins.
Read more about StableVault here.
What is Frax?
Market Cap: $116,538,036
Frax is the first fractional-algorithmic stablecoin protocol and is open-source, permissionless, and entirely on-chain. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
Website: https://frax.finance/
Docs: https://docs.frax.finance/overview
Medium: https://medium.com/avalancheavax/frax-expanding-dollar-pegged-stablecoin-to-avalanche-37efebf84a81
What is TrueUSD (TUSD)?
Market Cap: $337,808,812
TrueUSD is the first regulated stablecoin, fully backed by the US Dollar. It has native Avalanche integration so that users can deposit and withdraw between their bank account and the Avalanche C-Chain.
Website: https://www.trueusd.com/
Medium: https://trueusd.medium.com/trueusd-launches-natively-on-avalanche-bringing-us-dollar-liquidity-to-its-defi-ecosystem-fed2c6d25220
Contract Adresses
Swap Contract: 0x05c5DB43dB72b6E73702EEB1e5b62A03a343732a
s3F Token: 0xA42BE3dB9aff3aee48167b240bFEE5e1697e1281
Rewards Contract: 0xDC132af22690c0d3812ADF7260F083E7935092Bd
Join Snowball
Website: https://snowball.network/
Twitter: https://twitter.com/throwsnowballs
Discord: https://discord.gg/BGpEHvehMz
Telegram: https://t.me/throwsnowballs
GitHub: https://github.com/Snowball-Finance
Docs: https://snowballs.gitbook.io/snowball-docs/
Disclaimer
Contributors to Snowball have made reasonable efforts at ensuring the integrity of the protocol including tests. Snowball is monetarily valueless and has 0 entitled financial value. Anyone who chooses to engage with these contracts, including the Snowball token contract, are doing so at their own risk. You should perform your own due diligence.
