London, The UK, June twentieth, 2024, Chainwire
Summer season.fi, the decentralized finance platform, has introduced the launch of $RAYS, a brand new factors system designed to incentivize and reward customers for participating with its app and supported protocols.
The reward program is designed with three key phases as described beneath:
1: Retroactive Participation
On June 18th, 2024, a snapshot was taken to acknowledge previous and current Summer season.fi customers, in addition to these presently utilizing varied protocols and companies accessible all through the broader DeFi ecosystem and people having an energetic pockets. Over 2 million person addresses will likely be awarded $RAYS primarily based on their exercise ranges.
2: Retroactive factors claiming
From June twentieth, via to September seventeenth, 2024, customers with $RAYS allotted to them from the Retroactive snapshot can have 3 months to assert their $RAYS. Customers who use, or who’ve prior to now used Summer season.fi, robotically declare their $RAYS, however non-Summer season.fi customers should open a place on Summer season.fi for at the very least 14 days in an effort to declare their $RAYS.
3: Accruing of $RAYS
From June 18th, factors began accruing for energetic Summer season.fi customers primarily based on their platform use and the dimensions of their positions. $RAYS will likely be stay and can accrue over a interval of three years, till June seventeenth 2027 for any energetic positions, and could also be amplified via performing extra actions like including automations, migrating positions from different frontends or swapping tokens utilizing Multiply and Yield Loop options. Customers could acquire extra $RAYS by performing varied extra actions like having longer open positions.
The $RAYS program is a part of Summer season.fi’s ongoing efforts to boost the person expertise and drive adoption of its cutting-edge DeFi options. By incentivizing engagement and rewarding loyal customers, Summer season.fi goals to additional solidify its place as one of many main platforms in DeFi.
About Summer season.fi
Summer season.fi is a platform for decentralized finance. It may be used to borrow stablecoins towards customers’ favourite cryptocurrencies, improve publicity towards them utilizing Multiply, or Earn a aggressive yield. This may be carried out throughout a number of protocols and Layers — multi function place. Summer season.fi’s mission is to offer probably the most trusted entry level to deploy capital into DeFi. The workforce is product of passionate thinkers and builders pushed to create a greater person expertise for all of DeFi whereas placing the property to work.
Contact
Summer season.fi Staff
press@summer time.fi