Wingriders: It is time to boost the rewards!

It’s a bear market for sure. The best thing you can do in a bear market is “Stack your Sats!” and keep accumulating your rewards. At WingRiders, we know the best way to do this is to drive those rewards for our Riders. As we feel that Stablecoins, Bitcoin and Ethereum (non ADA based assets) are what is lacking most in our ecosystem, we will try to focus on these pools. They provide the community the chance to hedge against development of ADA in the two largest other crypto coins out there (BTC, ETH) or exit the volatile market for a time into Stablecoins (USDC and USDT).

The logic on the farming rewards currently takes into account 4 different parameters: TVL of the pool, number of transactions on the pool in a time period and relevance of the asset for the Cardano ecosystem, Partnerships and synergies with the project.

Overview of the current farm rewards summing to 217k WRT per epoch:

1. USDC / ADA 37500
2. USDT / ADA 12500
3. wBTC / ADA 35000
4. wETH/ ADA 35000
5. DANA / ADA 20000
6. Liquid / ADA 20000
7. MELD / ADA 20000
8. WMT / ADA 20000
9. Pavia/ADA 5000
10. AADA/ADA 5000
11. VYFI/ADA 3000
12. CLAP /ADA 500
13. COPI/ADA 2500
14. DRIP/ADA 1000

So what does this new support for the farms mean in numbers on the current farms. The increase from 14.6.2022 in total to 232k in a break down of:

1. USDC / ADA 37500 increase to 40000
2. USDT / ADA 12500 increase to 15000
3. wBTC / ADA 35000 increase to 40000
4. wETH/ ADA 35000 increase to 40000
5. DANA / ADA 20000
6. Liquid / ADA 20000
7. MELD / ADA 20000
8. WMT / ADA 20000
9. Pavia/ADA 5000
10. AADA/ADA 5000
11. VYFI/ADA 3000
12. CLAP /ADA 500
13. COPI/ADA 2500
14. DRIP/ADA 1000

If this really leads to an increase in the pools we are prepared to increase the farming rewards even further up to 65k WRT per a pool on the USDC, USDT and as well on BTC and ETH. Always in proportion to the total size of the pool. A good example is the USDT pool. It has the same importance as USDC, however, currently it is smaller than the USDC so the rewards in total are smaller.

Significant liquidity increase on any other pool will be as well rewarded by an increase of farming rewards. These rewards would also be adjusted if the liquidity significantly increases in the epoch starting today.

Please provide us inputs in the #voting/suggestions channel on pools where you would like to see a farm or an increase in rewards on existing farms. If there is enough interest we will put it to a Pre-DAO-Vote.

After the TGE when the price point of WRT stabilises and thus the APRs of the Farms we are considering introducing an algorithmic calculation model of the Farm rewards. Once the DAO governance is fully in place the community will be able to directly influence the type of farms and their reward allocation.

These extra bonuses will remain in place only if the liquidity is increased in comparison to its amount today. If the liquidity will reshift among the pools, the farm rewards will be adjusted accordingly.

We will also be announcing some new ways of rewards on pools in the coming weeks, so stay tuned.

The WingRiders Team