Adjustments to Farm Multipliers 🚜💎
Hey #CrystalCrew 👋! It’s time to make a few changes to some of the non-$CRYSTL farms!
The following list of changes for the PolyCrystal Mines will be implemented on August 26, 2021:
- PIRATEP-MATIC → 1.5x
- FISH-MATIC → 1.5x
- TAKO-MATIC → 0.1x
- TAPE-MATIC → 0.1x
- HONOR-MATIC → 0.1x
- ROLL-MATIC → 0.1x
- USDT-ETH → 2x
- BANANA-ETH Mine will have a 2% deposit fee (intended to decrease sell pressure from predatory yield aggregators)
Reasoning for the Changes
These changes are being implemented for a variety of reasons, the first and foremost being that we haven’t rejigged farm multipliers in a little while. A lot has happened recently that has directly impacted the APRs on our farms, namely:
- The addition of vaults
- The reduction of emissions to 1.5 $CRYSTL per block
- The subsequent price increase we’ve enjoyed due to these two factors!
More $CRYSTL for $CRYSTL Holders!
Reducing the multipliers on some of these farms will allow the flow of $CRYSTL to go to staking options like the CRYSTL-MATIC Mine and the Auto/Manual $CRYSTL Pools which directly benefit the platform and more importantly the holders of $CRYSTL.
More $CRYSTL for Partner Farms!
As we continue to build partnerships and introduce new staking options onto our platform it is also important to evenly distribute incentives across new options to allow everyone an equal chance to earn some sweet $CRYSTL!
The alterations to multipliers will mean a more even distribution of $CRYSTL to all farms on the platform, so that everyone gets an even share. We will be able to equally incentivize partner farms, while reducing incentives on farms proven to increase sell pressure on $CRYSTL. For example: Farms that are vaulted or used by actors that simply dump rewards.
More value for $CRYSTL!
As with any changes we’ve made to the platform thus far we’re doing this to retain as much value in the $CRYSTL token as possible, and get the best use out of the buy pressure from vaults. Reducing multipliers on these farms just makes sense to better reward our long term holders, and those that contribute liquidity to our platform!