Polygon Full Launch (Whitelist Ending) & New Boosted Stablecoin Pool (Hubie’s Pool)
Penguin Pool is finally being upgraded on Polygon to a new, boosted version, without whitelist; Hello Hubie’s Pool!
TL;DR
❄️ Penguin Pool is ending on Thursday, November 4, 2021
❄️ Hubie’s Pool (Boosted usdSNOW staking) with higher liquidity mining rewards and no whitelist is launching at the same time
❄️ Users can choose from 1, 15, and 30 day locking periods
❄️ 100 SNOW will be distributed daily (split between the locking periods)
❄️ Users need to migrate after boosted pool launches
Penguin Pool is being upgraded on Polygon to Hubie’s Pool, a new, boosted version, without whitelist!
Like before, you can stake your usdSNOW from the Stake page of the SnowSwap web site. However, now in return for bonding your LP tokens for a minimum amount of time, you can earn an even higher staking APR.
You can get usdSNOW by depositing USDC, USDT, or DAI stablecoins in the usdSNOW Pool. This returns Polygon usdSNOW LP tokens which can then be deposited into Hubie’s Pool.
“Locked staking” refers to the process of locking your LP tokens and rewards on the SnowSwap platform for a minimum period of time. Locked staking pools pay higher staking rewards than regular pools. After depositing to a locked pool, you can withdraw the deposited amount and harvest your SNOW rewards only after the expiration of the locking period. Locking additional tokens resets the locking period. To lock different groups of assets with different locking periods, you must use multiple wallets.
The individual APR of the 1, 15, and 30 day periods will change depending on the amount of assets staked. The split of rewards between the locking periods will also vary but in general the longer staking periods will have a higher APR.
Liquidity mining for the old Penguin Pool will end when the new pool starts. Users must migrate to the new pool to keep receiving rewards.
We also just launched a new SNOW-USDC trading pair on QuickSwap and a boosted Frosty’s Pool on Polygon and Ethereum. Stay tuned for more announcements soon!
