We are super excited to announce that our yield-optimizing protocol is now fully supported on Polygon — marking it the 3rd blockchain to be integrated into our platform in addition to Binance Smart Chain (BSC) and Ethereum blockchains!
The integration with Polygon was first revealed in our recent announcement, along with the plan to add new vaults and liquidity aggregation of Polygon DEXes. With the Polygon integration now complete, we are riding on the wave to enable greater cross-chain capabilities between bEarn and the hottest 🔥 Polygon ecosystems!
PolyVault — bEarn’s Vaults on Polygon
We are dedicated to continuously providing more vaults with the best yields to users, regardless of blockchain. The upcoming integration with Polygon means new vaults from the blockchain ecosystem will be added to our yield optimizer on Polygon called PolyVault, allowing users to enjoy some of the best compounding strategies on Polygon LPs at the lowest fees. The following vaults will be the first to launch:
- Top pools with high TVL
- Vote by the Community
To ensure a variety of options, we will continue to monitor platforms within the Polygon ecosystem and deliver more vaults in the coming days! And at the later stage, the Community can decide on which vault to be added next, via a vote.
How will PolyVault work?
Vaults are the massively adopted term to represent the smart-contract strategies developed by yield optimizers. More elegantly said; bEarn.Fi optimizes bDollar rewards through a vault system; vaults serve as investment instruments, implementing procedures through smart contracts. These vaults automate the best yield farming opportunities. Vaults can also perform the following actions: use assets as liquidity, provide assets as collateral for others, manage collateral to reduce odds of liquidation, use assets to generate a yield and compound profits. With the following actions, vaults allow users to automate their De-Fi farming experience completely.
The vault contract takes care of all this for the user every hour, or earlier if the community calls the harvest button early! This means the user automatically has their harvest sold, compounded back into an LP, and deposited to allow it to grow at a faster pace and is hands-off.
What makes PolyVault different?
PolyVault offers double rewards or even triple (more details to be updated) rewards for LP holders, apart from the high APY on each Vault and the token harvested.
The system utilizes the following auto-compounding vault strategy:
93.1% of profits will be used to compound users LP tokens
- 50% to purchase USDC or MATIC
- 50% to purchase X token in the appropriate pair
6.9% profit for performance fee
- 3% to buy back $PVI and distribute among $PVI pool stakers
- 3.9% to Eco profit and will be distributed among: bPower, bStake and Boardroom stakers. Ratio to be updated at a later stage.
ZERO fee: Harvest, deposit, withdraw
- No lock up
- Early withdrawal before 72 hours: will be charged 0.05% fee (Deposit amount)
- Withdraw fee: 0–0.5% depending on Vault strategy
- Users will receive 40% reward ($PVI) immediately and the rest 60% will be distributed linearly over the next two months (From August 1st to September 30th). The full reward starts from October 1st.
- The extra rewards can be claimed anytime (no lock-up)
Note: Above features could be changed over time to adapt to development
Token ticker: $PVI
Contract address: https://polygonscan.com/token/0xC9C0159644d3789EceB4f8cdfcF99C7605AE505c
Max supply: 1,000,000 $PVI
IDO amount: 100,000 $PVI
- Users can purchase $PVI with ETH, USDC, MATIC and, BNB (receive 40% immediately and 30% (each month) in the next two months. (From August 1st to September 30th)
- IDO price: $10 per $PVI
Provide liquidity and Reserve funds: 100,000 $PVI
- 50% to provide liquidity and will be locked for 6 months
- 25% to Operation fund
- 25% to Reserve fund to buyback $PVI and burn
Emission rate: 800,000 $PVI to be minted in 2 years with details as follows:
- Team: 15%
- Marketing: 7.5%
- Insurance: 2.5%
- Reserve fund: 10%
- Incentive: 65%
Another piece of #SUPA exciting news users can expect this month is that we will hold IDOs on both #BSC and #Polygon. The IDO on BSC will be held on bDEX.Fi, where users can buy the token PVI with BNB. We will introduce new features for IDOs held on Polygon so that users can also buy IDO tokens using ETH, USDC, MATIC and add LP on Quickswap, one of the biggest Automated Market Makers (AMM) on the Polygon network.
- IDO: 08:00 UTC July 27th, 20201— https://www.polyvaults.fi/
- Block countdown: https://polygonscan.com/block/countdown/17316969
- PolyVault: 24 hours after the IDO ends
We will be sure to provide further details about the IDO process when it is closer to being ready for delivery. As usual, we are hard at work to move the ecosystem forward and bring the best opportunities to our awesome community! 💪
The integration with Polygon marks just one of the many goals we have moving forward in 2021 — significantly improving our cross-chain capabilities. Keep an eye out for more announcements as we add more new vaults, more boosts and integration to bring the magic 💫 of DeFi to our community!
Get ready for countless exciting news to come
🔥 bEarn’s roadmap revival
⚽️ Sports Betting
💸 Compensation update
🐸 bPepe (NFTs market)
🎟 bLottery V2
🤝 More partnerships
🥇 More community campaigns
About bEarn Fi
bEarn Fi is a cross-chain product in Decentralized Finance (DeFi) that at its core provides yield generation, algorithmic stablecoin, gaming aggregation, cross-chain bridge, cross-chain sports betting, treasury, lending, DEX, yield calculator, lottery, NFTs and governance on multi-chain: Binance Smart Chain blockchain (BSC), Ethereum blockchain and Polygon.
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