Introducing Solana’s first triple yield pool with FABRIC
The addition of FABRIC’s Triple Yield Pool and partnerships with other projects will continue to increase FABRIC’s widespread adoption within Solana.
As we move further into Q4 we’re happy to release the first triple yield pool on Solana. Before we dive in, we would like to thank the FAB community on Discord for their unwavering support and participation.
TLDR - FAB-USDC LP STAKERS TO RECEIVE ADDED APEX & gSAIL REWARDS
Getting your token listed can be an absolute nightmare if you have low liquidity. It’s not uncommon to be told by exchanges that you need to reach out to market makers to increase liquidity first, only for the market makers to say no due to your low volume. This scenario is incredibly common within the cryptoverse. It’s not impossible to encourage the community to stake tokens and increase your projects liquidity through pure passion alone, but it can be tremendously difficult. Users are incentivised to stake through the trading fee reward mechanism but with most small-cap, low-volume protocols this reward will likely be negligible. Add in the risk of impermanent loss and what you’re left with is an uphill battle to bootstrap liquidity.
Sometimes you have to take matters into your own hands. That's why we have created our very own FAB Yield Pool. Our pool allows FAB liquidity providers to stake their LP tokens and receive FAB rewards. Incentivising users to stake their FAB and USDC by rewarding them with a yield harvest opportunity is a powerful way to bootstrap liquidity. So powerful in fact that our liquidity went from $3K to over $100k within three days of going live and is currently sitting at over $1.3m.
Sharing the liquidity
This got us thinking if our FAB LP Pool was so successful at bootstrapping our own liquidity, why couldn’t we help other protocols to do the same?
Since coming to this revelation, we have spun up a number of LP pools and onboarded both apeXit and Solana Sail into the FABRIC ecosystem.
Users and protocols alike will be happy to hear that we have not charged any fees for protocols to get started with our FAB LP Pools. We only asked that they allocate a portion of their native token to be added to the FAB-USDC Pool for emission to our FAB LP token stakers. We see this as the most effective way to create value within the FABRIC ecosystem and give back to the FABRIC community.
The first triple yield pool on Solana
The original FAB-USDC LP pool emissions came to an end on Friday 22nd of October after emitting a total of 4.6 million FAB to all of our LPs.
Given the recent onboarding of apeXit and Solana Sail, stakers in the new FAB-USDC LP pool will not only receive FAB rewards but will also be receiving APEX and GSAIL tokens too! The new triple-yield FAB-USDC pool will last for 90 days, emitting a total of 22.5m FAB, 66k APEX and 4.95k GSAIL. The pool will be going live before 25/10/21 12 PM UTC and rewards will start at 25/10/21 6 PM UTC.
STAKING & POOL MIGRATION
Simply unstake your LP tokens from the old FAB-USDC pool at https://stake.fsynth.io/ and stake them in the new pool. Sit back and relax whilst you earn triple yield rewards! You do not need to unstake from Raydium at any point.
To learn more on how to stake, check out our docs section here!
We’re excited to keep creating value for our FAB users and would love to hear what you all think about our FAB Pools 👋
Join The FAB Family
We can’t wait for you to join the community and become a part of the FAB Family.