$CRYSTL Max Supply & The End Of Farming Emissions

It’s finally 2022 and although it seems the grander crypto market decided to take a break — it’s full-steam ahead for Crystl Finance with everyone feeling refreshed after the holidays. The #CrystalCrew is ready to bring $CRYSTL to higher glories than ever before in this new year!💎🚀

As we proceed into 2022, one of the most important changes to happen affects the $CRYSTL token emissions and the maximum supply of $CRYSTL. Continue reading below to learn when emissions are ending!

TLDR

Too long, didn’t read.

  • All partner Mines and Jewels on Polygon are ending on Jan 15
  • Main $CRYSTL-$MATIC Mine and Auto/Manual $CRYSTL Pools to end on Jan 19 as emissions are moved to Cronos in preparation for the upcoming bonding & protocol owned liquidity feature
  • After Jan 19th, the $CRYSTL maximum supply will be reached at 12.5M tokens
  • Single staking $CRYSTL Pools for partner tokens will be available only on occasion and will no longer constitute the majority of our business model
  • More $CRYSTL incentives and $CRYSTL LP staking to come throughout the #15WeeksOfFortune campaign on Twitter in Q1
  • Information & dates regarding revenue sharing & bonding/protocol owned liquidity will follow in the coming weeks

Notice on Emissions

As voted by the community in a fully decentralized manner, all $CRYSTL emissions (farming rewards) will be stopped on Polygon and the token will be hard-capped at 12.5M circulating supply. The following is set to happen in the coming days:

  • January 15, 2022
  • $CRYSTL rewards for all partner Mines and Jewels will end
  • Note: $CRYSTL-$MATIC Mine and Auto/Manual Pools will remain
  • January 19, 2022
  • $CRYSTL rewards for the Auto/Manual $CRYSTL Pools will end
  • $CRYSTL rewards for the $CRYSTL-$MATIC Mine will end

Be sure to remove all of your tokens from the Finished Tab on the appropriate feature when the rewards finish!

On January 19th, the remaining $CRYSTL emissions up to 12.5M circulating supply will be shortly minted through a ghost farm and bridged to the Cronos blockchain through Relaychain.com. These tokens will remain idle until the implementation of the bonding feature, at which point they will be used strictly to provide investors with the ability to purchase $CRYSTL below the market price by exchanging $CRYSTL-$CRO LP for $CRYSTL when a discount on the protocol’s bond market is available.

Old vs. New Business Model

In the past, partners provided their tokens to create $CRYSTL Pools and in return, Crystl Finance created a farm to reward liquidity providers for the partner’s token with $CRYSTL rewards. For example, partners would provide $25K of their token distributed in a $CRYSTL Pool over 1–2 months and in exchange we would launch a Mine for PARTNER-MATIC LP matching that $25K in $CRYSTL rewards. As a side effect of discontinuing $CRYSTL farming rewards and lacking incentives for partner token liquidity pairs in the Mines, we will no longer be able to pursue our old business model based on Pool-Mine deals such as this.

One of our biggest ambitions at Crystl Finance is to build a decentralized protocol that is both non-custodial and driven by a sustainable source of income. When we look at the old business model, it does not lend well to this ambition. The old model required constant maintenance by a centralized team of our business developers. Pool-Mine deals usually had a lifespan of 1–2 months, with partners not returning for a Pool top-up if it did not result in higher liquidity in the mines. Thus requiring biz-dev to constantly seek out new partnerships to fill the gap. Considering all of this, maintaining the old business model is not a step forward to decentralization nor sustainability. The ultimate goal of Crystl Finance is to become a protocol that generates perpetual revenue through the collective needs, wants, and governance of the community without depending on biz-dev.

Although many of us have enjoyed the old business model for the wide array of $CRYSTL single staking utility Pools that it brought, it had yet another downside in requiring new $CRYSTL tokens to be printed perpetually in the Mines without any limit. With the $CRYSTL token supply now hard-capped at 12.5M and each $CRYSTL becoming a scarce and limited asset we are able to evolve to a new, more sustainable business model driven by our revenue sharing & bonding/protocol owned liquidity features! More information about the release date of these will follow in the coming week(s) along with some other exciting news!

Note: We will still have occasional single staking Pools for $CRYSTL when partners wish to provide Pool token allocations, but in general, please keep in mind the above reasons for the lessened frequency of Pool allocations.

Frequently Asked Questions

  • Q: What should I do with my $CRYSTL in the Auto/Manual Pool or $CRYSTL-MATIC LP in the Mines?
    With $CRYSTL emissions ending on Polygon on January 19th, be sure to remove your tokens from the Finished Tab on each feature. Then, you may want to consider the the following staking options:
  • Cronos
  • 🚜 ChronoSwap Farm: Stake $CRYSTL-$CRO → earn $CNO
  • 🏦 Vault: Stake $CRYSTL-$CRO (Auto-compound)
  • 🚜 CronaSwap Farm: Stake $CRYSTL-$CRO → earn $CRONA
  • 🏦 Vault: Stake $CRYSTL-$CRO (Auto-compound)
Cronos $CRYSTL-$CRO Vaults (ChronoSwap & CronaSwap)
  • Polygon
  • 🚜 ApeSwap Farm:
    Stake $CRYSTL-$MATIC → earn $BANANA + $CRYSTL
  • 🏦 Vault: Stake $CRYSTL-$MATIC (Auto-compound)
Polygon $CRYSTL-$MATIC Vault (ApeSwap)
  • Besides this, keep an eye out for occasional Pools on Cronos & Polygon to stake $CRYSTL. We will also have news throughout the #15WeeksOfFortune campaign on Twitter in Q1 which will bring additional major incentives for $CRYSTL and LP staking. Finally, it’s important to remember that you will be able to use $CRYSTL to vote on any future Governance proposals to have your say in key decisions regarding the protocol.
  • Q: What will happen to Crystl.Finance on Polygon?
    We fully intend to remain on Polygon and take care of our users & $CRYSTL holders on this chain! For instance, one move we made recently was to revive the ApeSwap $CRYSTL-$MATIC Farm which ensures that $CRYSTL will remain liquid on Polygon. This farm is currently paying out a lucrative 195% APR in rewards, and the respective Vault is at 542% APY (Jan 13, 2022)! Furthermore, we will implement our revenue sharing feature on both Cronos and Polygon. In fact, Crystl.Finance is ambitious about being a multi-chain protocol and being able to tap into the opportunities of generating revenue with our Vaults service on many blockchains! As we release our V3 Vaults, revenue sharing, and bonding/protocol owned liquidity features we will establish the core foundation of our platform. With this solid foundation, our plan is to strategically expand to more networks while maintaining features that are not available on our competitor’s platforms and put us ahead of the competition. Crystl Finance will strive to achieve a high Vault TVL on each chain to obtain a consistent stream of revenue to $CRYSTL liquidity providers on each native blockchain through revenue sharing. $CRYSTL bonding will also be made available on different chains once the revenue generated on the native chain is significant and we can allocate a portion of the revenue to $CRYSTL buybacks to fund the bonding feature.

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Discover unprecedented flexibility for maximized passive income with Vaults, Ultra Farms & Revenue Sharing that is only possible on Crystl Finance💎

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Discover unprecedented flexibility for maximized passive income with Vaults, Ultra Farms & Revenue Sharing that is only possible on Crystl Finance💎

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