TONIC Rewards Boost
Tectonic aims to improve TONIC utility, as well as increase user activity on the protocol. One way to do this is to reward actions that help support these 2 objectives.
How TONIC Rewards Boosting works
The TONIC Rewards Boost feature seeks to reward long-term TONIC holders who are also active users of Tectonic. These users will be eligible to receive a larger proportion of TONIC from liquidity incentives, which essentially translates to higher interest received from lending, and/or lower borrowing rates. Here's how:
Step 1: User stakes TONIC for xTONIC
Step 2: User locks xTONIC in a vault
Step 3 (optional): User stakes NFT (from an approved NFT collection) on vault
Step 4: User receives a market-specific boost multiplier based on 1) the quantity of xTONIC locked relative to peers, and 2) locking duration 3) NFT boost (if any)
Step 5: User can boost up to 2 markets that he has supplied and/or borrowed from
NOTE:
A "market" is defined as a token pool that a user has either supplied or borrowed from. For e.g. a user can boost the USDC market that he has supplied to and WETH market that he has borrowed from, or he could also boost the WBTC or USDT markets that he has borrowed from
Only markets that offer TONIC incentives can be boosted (with the exception of CRO markets. Suppliers and/or borrowers of CRO will not receive a boost)
Markets available to be boosted (as at Feb 2024)
Markets with the TONIC symbol (except for CRO markets) are available for boosting:
Main Pool
USDC (supply) market
USDC (borrow) market
USDT (supply) market
USDT (borrow) market
WBTC (borrow) market
WETH (borrow) market
TONIC (supply) market
TONIC (borrow) market
Veno Pool
USDC (supply) market
USDC (borrow) market
USDT (supply) market
USDT (borrow) market
ATOM (supply) market
ATOM (borrow) market
DeFi Pool
USDC (supply) market
USDC (borrow) market
USDT (supply) market
USDT (borrow) market
FER (supply) market
FER (borrow) market
VNO (supply) market
VNO (borrow) market
FUL (supply) market
FUL (borrow) market
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