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Bonus Rewards & APR
Rewards along with the yield aggregation.
Many DeFi protocols distribute bonus reward tokens that are automatically placed in the vault.
Whenever there are bonus reward tokens accrued from yield farming, the Flurry Protocol will manage these rewards by selling them against the underlying stablecoin of the vault in the most cost-efficient manner possible, redeploying the value earned in the market, and eventually rebasing them as yield.
An overview of the process is shown below:
- During the yield farming process, reward tokens can be earned from the DeFi protocol.
- Reward tokens accumulated are automatically swapped to rhoToken when the condition (sufficient amount) is met.
- As rhoToken rebasing happens every day, the swapped reward will be rebased and distributed back to users’ wallets on the day once the swap is triggered.
This is all showcased on the Flurry Protocol's user interface.
Bonus APR of rhoUSDT on rabbit strategy.
These bonus reward tokens represent a significant percentage of the overall yield return. The Flurry Protocol will factor in the rewards when deciding which DeFi protocols to choose when deploying capital.
To trigger the collection and swap of accrued bonus rewards without manual process, Flurry has elected to outsource this operation to Chainlink Keeper Network 🎅🏻 in order to fully decentralize and automate the process. Integrating the industry-leading decentralized oracle network gives us access to a secure smart contract automation service that brings a higher degree of reliability and decentralization on the platform.
Implementation of Chainlink Keeper Network to collect bonus rewards across strategies.
During the campaign period, rhoTokens or LP tokens hodlers who have staked on Flurry DApp platform will be able to enjoy free FLURRY rewards as gratitude and encouragement to promote the use of rhoTokens and FLURRY. FLURRY Rewards rates are shown by FLURRY APR (in Earn & Farms) and APR (Snowball) in the Flurry DApp:
Flurry | The Future of Yield Farming
Flurry DApp
Please reference Flurry Finance Medium for more details on ongoing campaigns.
Official Medium of Flurry Finance!
Last modified 1yr ago