Hey Crystal Crew! We’re bringing you some farm multiplier adjustments this week to better reward our long term $CRYSTL 💎 holders!
It’s been a little while since we’ve adjusted the multipliers for the Mines, so we decided to rejig them a bit to better incentivize our Manual/Auto CRYSTL pools and alleviate some of the sell pressure from farms that have been known to produce said pressure. In other words, these changes are aimed to benefit the price stability of our token! See this handy graphic for a quick look at the changes we will be rolling out on September 22!😉
In our data analysis efforts we’ve discovered that because Crystl.Finance has become a trusted platform with good price stability, a significant portion of our non-native farms are currently being vaulted by third parties. This results in negative selling pressure on $CRYSTL. Reducing the multipliers will mean that less CRYSTL is sold off to build non-native LPs, helping to stabilize the price!😊
The other benefit of reducing the multipliers on some of these rather heavily vaulted farms is that we make the vaults on our own platform more competitive!
This has a doubly positive effect on price action, as it encourages liquidity providers to use our vaults instead of third party vaults! Liquidity in vaults is normally much stickier than in farms because DeFi enthusiasts prefer the benefits of auto-compounding over manual farming. For the long term health of $CRYSTL — it is beneficial for everyone involved to utilize the vaults, as they help to reduce the circulating supply of $CRYSTL through automatic buybacks & burns! Of course, our vaults also provide more funds to the treasury to help bring new partnerships, developments, and utility to the $CRYSTL token.
To put it simply, the multiplier changes are intended to be a win for everybody!
- Users of external platforms are encouraged to take advantage of the competitive offerings of native Crystl Finance vaults.
- $CRYSTL holders are able to get more more $CRYSTL through the increased allocations for Auto/Manual pools
- Higher TVL on vaults means more buybacks, more burns, and benefits for all.
- Everyone gets to enjoy better price stability and price appreciation for $CRYSTL.
DeFi is an ever-changing environment. That is why we are dedicated to staying agile and constantly looking at ways to reward those who contribute to our ecosystem by holding and staking $CRYSTL. By making these sorts of adjustments, we are better aligning our incentives with that philosophy!
We will continue to monitor our farm multipliers, and make necessary adjustments to ensure that $CRYSTL holders get the best value and return on investment!