Drips Rewards
Last updated
Was this helpful?
Last updated
Was this helpful?
SyrupUSDC or syrupUSDT users are rewarded through an innovative rewards system known as Drips that aligns the community through token incentives. Drips can be converted to SYRUP at the end of each season. Participants will earn Drips for depositing USDC and USDT, with additional reward boosts for locking their deposits for up to 6 months.
The Drip Rewards Program is broken down into Seasons, with each Season having its own reward structure and conversion of Drips to SYRUP. Earlier participants receive more opportunities to earn Drips, and users are able to commit their deposits for periods of time to earn a multiplier on Drips. At the end of each Season, the Drips <> SYRUP conversion is announced.
Drips compound every 4h and this boosts the total APY for syrupUSDC and syrupUSDT users. Lenders can connect their wallet and view their current Drip balance at any time.
The compliance requirements for syrupUSDC or syrupUSDT have been determined and set prior to the launch and enforced by the application. Anyone that is able to access and deposit into syrupUSDC or syrupUSDT will be eligible for Drips rewards and to receive any associated token distributions. These compliance requirements include the necessary geo-blocking and AML standards which are enforced in the webapp and smart contracts.
As part of , at SYRUP token launch, Drips can be converted to staked SYRUP, enabling users to earn more SYRUP as part of the staking process and support the Syrup ecosystem.