Hello! In order to improve liquidity in lending market of Defibox, we officially start mining activity for our decentralized lending at 09:00 (UTC) April 29, 2021. At the same time, we will open LP Tokens for depositing as collateral. BOX release and mining activity for lending will start at the same time. According to DIP25, the ratio of mining rewards for lending: 25% for depositors and 75% for borrowers. The rules of mining weight are the following:
Basic mining release for decentralized lending is 0.002 BOX, and the BOX is released to each market according to the weight of its liquidity. The mining weight for each market:
The rule of lending mining is the following:
- 0.002 BOX is released every second by smart contract for lending mining
- Mining BOX per second in one lending market = Basic release 0.002BOX * Mining Weight of this market * 70%
- Your mining BOX for depositing this token = Mining BOX per second in this lending market * 25% (proportion for deposit mining) * the proportion of your deposit asset value to the total deposit asset value
- Your mining BOX for borrowing this token = Mining BOX per second in this lending market * 75% (proportion for borrow mining) * the proportion of your borrowing asset value to the total borrowing asset value
- Mining reward for lending is calculated in real-time and accumulated automatically, you can claim your reward any time
- When you transfer your deposit certificate to other EOS account, the right to claim future mining reward is also transferred accordingly
- The mining weight of participating market needs to be > 0, otherwise there will be no BOX reward
Tokens and LP Tokens supported: (LP Tokens can only be deposited, not borrowed)
Note: APY will change rapidly due to market conditions. Defibox Foundation will watch it closely and adjust mining weight accordingly. In order to have a quicker response, The announcement for “Weekly Mining Weight Adjustment” will be published each Friday, please be noted.
Friendly reminder: Defibox does not endorse any project. The online of any token on Lending is selected by comprehensive consideration of user experience and risk control. Please pay attention to the possible risks.
Thank you for your support and attention to Defibox!
April 29, 2021