Usage Farming for Furucombo on Polygon

FuruCombo introduced COMBO Mining Season 3 — Usage Farming on Polygon.

Usage Farming is the most important element of the COMBO mining season 3 as it aims to encourage people to try the magic of Furucombo. On Ethereum, Usage Farming is more about gas reimbursement. While on Polygon, they want to incentivize our loyal users, those who stick with Furucombo, for all types of transactions — rather than going back to the original protocol.

Program period

Jun 24 2021, 3:00 AM (UTC) — Aug 5 2021, 3:00 AM (UTC)

How to participate

Step 1 — Become an eligible address:

• Any address that has sent over 100 USDC (or other whitelisted tokens) from Ethereum to Polygon with the ‘Token Bridge’ cube on Furucombo will be eligible.
• Whitelisted Tokens & Amount List
  – 100 USDC, 100 USDT, 100 DAI
  – 150 COMBO, 65 MATIC, 0.04 ETH, 0.003 WBTC
  – 0.3 AAVE, 10 SUSHI, 40 CRV, 10 SNX, 4 LINK
• This is to prevent dummy addresses as the gas fee is extremely low on Polygon.

Step 2 — Use the following cubes:

• Aave: Deposit, Withdraw, Borrow, Repay, Flashloan
• Quickswap: Swap, Add Liquidity, Remove Liquidity
• Sushiswap: Swap, Add Liquidity, Remove Liquidity
• Curve: Swap, Add Liquidity, Remove Liquidity
• Utility: Wrap MATIC to WMATIC, Unwrap WMATIC to MATIC

Step 3 — What rewards can be earned:

• The more you use the cubes on Polygon Furucombo, and the less you use the same feature on Polygon, the more rewards you will be eligible to receive from this Polygon-only Usage Farming program.
• Rewards
  – Rewards = Loyalty Point * (1 MATIC + 2 COMBO) per week
  – Up to 10 MATIC + 20 COMBO per week
• Loyalty Points
  – Up to 10 points
  – Loyal Tx Count * NFT Effect
• Loyal Tx Count
  – Up to 5, renews each week
  – Furucombo Tx Count ⁃ Furucombo Tx Count * Non-Furucombo Tx Count / All Tx Count
• NFT Effect
  – Up to 2 times
  – they have sent out 30 Furucombo x Polygon Pizza NFTs, if you have one of them, you can boost the Usage Farming reward by 1.2x
• Cap
  – 7,000 MATIC and 14,000 COMBO per week
  – Rewards will be scaled down pro-rata if the weekly cap is reached

Example:

• For a wallet address with 4 transactions in a farming week as shown below, it can get 0.75 MATIC + 1.5 COMBO for the week
• Details for the wallet:
  – Has sent over $100 USDC from Ethereum to Polygon with the ‘Token Bridge’ cube on Furucombo previously
  – 1 transaction sent from Furucombo, which used the Aave deposit cube in the past week
  – 1 transaction sent from Aave original site to deposit to Aave in the past week
  – 2 token approvals transactions in the past week
  – No Furucombo x Polygon Pizza NFT
• Reward Calculation
  – Loyal Tx Count = 1–1 * ¼ = 0.75 for the week
  *Furucombo Tx Count = 1 (as 1 Aave transaction sent from Furucombo)
  *Non-Furucombo Tx Count = 1 (as 1 Aave transaction sent from Aave original site)
  *ALL Tx Count = 4
  – Rewards = 0.75 * (1 MATIC + 2 COMBO) = 0.75 MATIC + 1.5 COMBO for the week

What is Furucombo?

Furucombo is a tool built for end users to optimize their defi strategy simply by drag and drop. Just like building your own defi legos into one transaction, but you don’t need to know how to code.

What is Polygon?

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.

📰 INFO:

https://medium.com/furucombo/combo-mining-season-3-usage-farming-on-polygon-c622432df52b