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Introducing Reward Manager, Staking Pools and Converter v2

We are bringing some MAJOR UPDATES to PolyDEX. The aim of these updates is to reduce emissions on CNT a well as adding more buy pressure to the CNT token.

Reward Manager, Staking Pools and Converter will go live at 4:30pm UTC on 23rd of August. Please do harvest you pending rewards by then or they will be sent to the reward manager.

Reward Manager

The reward manager is the Smart Contract which after a cliff period will linearly vest the CNT tokens from the farm to the user.

25% of the harvested amount from Farms (Core and Multireward) and Staking rewards will be sent to the harvester.

The remaining amount (75%) will be vested linearly for 4 months. Vesting will start 2 months after the launch of the Reward Manager.

If users do not try to claim their vesting rewards for the entire duration of 4 months they will get an extra 15% of CNT. (The harvest can be called to get the 25% upfront. This applies only to the vested amount.)

Users can “Force Claim” which will forgo the Vesting, burn 35% of the token you are owed, and give you the rest.

Staking Pools

Single asset Staking pools with a deposit fee will be launched, where users receive rewards in CNT. The deposit fee will be sent to the converter which will be used to BUYBACK CNT and distribute it to the Burner, Staker, and Dev Addresses.

The following Staking Pools will be made with the following block rates.

Block Rewards for Staking Pools

Converter v2

The Converter v2 was created to handle all kinds of LP tokens, not just wMATIC LP tokens. It also has the functionality to convert any token on PolyDEX to CNT which will be used immediately for the Staking Pools.

About Cryption Network

Cryption aims to make the onboarding process simpler for retail users. We offer a suite of user-friendly products to facilitate crypto adoption and provide the best service possible. Cryption Network helps to simplify the crypto ecosystem without diminishing its value. We offer:

PolyDEX — L2 Swap

Elastic Farming

Deflation of CNT

Seer

Cryption App

Non-Custodial Portfolio Management

Ether Rush

DeFi Stack

NFTs

Source:Crypto Daku