May 5th is approaching, and thousands of participants are ready to compete with each other in the AshSwap Battle of Yields to win the prize of the best yield farmers. In order to win, in just about any game, you first need to understand the rules and use them to your advantage.
In this post, you will find almost everything you need to know about the gameplay and how to navigate yourself in our event. Why almost you ask? It is because there are surprises we want to introduce in the middle of the event. It will significantly give everyone a chance to flip the results if they know how to take advantage of it. And the only way you can know about them is to follow us and pay close attention.
Battle of Yields will be held on Devnet.
Now, let’s get to the details.
Timeline
- BoY starts on May 05th, 08:00 UTC
- BoY ends on May 19th, 08:00 UTC
- The event faucet opens at May 5th, 00:00 UTC (8 hours before the event starts)
- Changes like APR boosting or alike will happen at 8:00 UTC — 10:00 UTC
Tokens
Everyone will start with the same amounts of tokens.
- 10,000 ASH
- 5,000 USDT or USDC (choose one)
- 0,1 renBTC or wBTC (choose one)
Token prices:
👉 Note that all these prices are just random numbers for the sake of the event. They will not reflect the prices of any tokens on Mainnet, including ASH. Besides, most of the tokens are not available on Mainnet, they are just for test and do not comprise any hints of them coming to Elrond. Any information in this event cannot be used against us in the court of Mainnet ;).
These are only the initial prices when the event starts, they will change as people start to swap, add liquidity, etc.
- 1 ASH = 0.2 USDC
- 1 USDT = 1 USDC
- 1 wBTC = 1 renBTC = 50,000 USDC
Why choose USDT over USDC, or renBTC over wBTC? This is one strategic move you have to make. It’s more beneficial for you to choose the one that fewer people choose.
If most people choose USDC and you choose USDT, when they add liquidity to the USDC/USDT pool, there will be more USDC in the pool than USDT. It means your USDT now is automatically valuable compared to USDC. The same holds true for renBTC/wBTC. Sounds fun already?
Faucet
- Claim your event tokens soonest 8 hour before the starting time from the event’s faucet: https://battleofyields.ashswap.io/faucet
- dEGLD (devnet eGOLD) will be used as gas fee & can be claimed from now on at https://r3d4.fr/faucet & we recommend you claim it as soon as possible, ideally now, to avoid any unwanted bottle necks before the event, the detailed guide is ready at the end of this article.
AshSwap Guide
In this event, the features you can participate in to earn include but not limited to (as there are many market dynamics we might have not yet known of):
- Liquidity Provision (Adding Liquidity): You earn 50% of the trading fees of the pools that you are in.
- Liquidity Staking: You can stake your LP tokens acquired from adding liquidity to earn ASH.
- Governance Staking: You earn 50% of trading fees from all pools on AshSwap.
This diagram illustrates how the fees and rewards from AshSwap flow into different features. You can find more details in our Litepaper at: https://medium.com/@ashswap/ashswap-litepaper-dfccf2d8528e
Initial Liquidity of Pools
The values of the liquidity pools
- USDT/USDC: $25,000,000
- renBTC/wBTC: $50,000,000
- USDC/wUSDC: $35,000,000
- ASH/USDT (Maiar): $100,000,000
- wBTC/USDC (Maiar): $100,000,000
Maiar Pools
You can see that we have 2 Maiar pools in our event, which are ASH/USDT and wBTC/USDC. These pools exist to serve the purpose of trading between ASH and wBTC with USDC and USDT. You can do so directly on the UI of AshSwap, and you cannot find those pools on the website of Maiar Exchange. We do not encourage anyone to try to add liquidity to those pools. You can collect small trading fees, but there’s no farming reward.
Trading Fee
- USDT — USDC: 1.0%
- renBTC — wBTC: 1.0%
- USDC — wUSDC: 1.0%
- wBTC — USDC: 0.3%
- ASH — USDT: 0.3%
Once again, we only make the trading fees on AshSwap 1.0% to boost the trading APRs a little bit to make them significant as the event only lasts for 2 weeks. The real fees after launch are much smaller, potentially sub 0.1%.
Governance Stake
The locking time is supposed to be minimum 1 week and maximum 4 years. But in this event, we have to change it for the purpose of testing. The details are:
- Min: 12 hours (new update)
- Max: 2 weeks
- Quick Select: 12 hours / 1 day / 3 days / 1 week / 2 weeks
You can claim/harvest your reward from Governance Staking every 12 hours (updated).
Farming APRs
We will change/boost farming APRs every 2 days to create needs for transferring funds around, making the event more fun and simulating the real market dynamics. You will be notified about the changes and the details can be found on the analytics page of AshSwap.
How to calculate the results
The total value of a user will be the sum of the following assets:
- LP-Tokens staked in Liquidity Stake.
- ASH staked in Governance Stake.
- Rewards from Liquidity Stake and Governance Stake, including unharvested ones.
All the values will be calculated and denominated in USDC at the market price (from Maiar and AshSwap pools) at the end time of the event. So unless you want to perform some sort of speculation. You don’t need to move your funds or race to harvest, swap, etc. before the event ends.
Important Rules
- Do not send dEGLD or tokens from your wallet.
- Do not use the fund received from others’ wallets. If you receive tokens, make sure you do not use the fund and forward all the received tokens to this burn address within 48 hours.
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Any actions against the above rules will be considered fraudulent, and you will get disqualified from the final results.
Watch your wallet on the explorer or ask for community tools to help you monitor it. Send any tokens you receive from other wallets, except the AshSwap Smart Contracts to the burn address.
Battle of Yields event details: https://medium.com/@ashswap/ashswap-battle-of-yields-986553c67694
Join the battle to claim your prize: https://battleofyields.com/
Guide: How to Claim Devnet EGLD as transaction gas fee
Step 1: Go to Maiar Wallet and select Devnet wallet then copy the wallet address.
Step 2: Access to Elrond Faucet: https://r3d4.fr/faucet then select Network Devnet.
Step 3: Paste your wallet address in, and click Submit.
Step 4: To check the transaction, select Hash.
You will be taken to the Devnet-Explorer page, check the status, if it is successful it means your transaction is complete.
And your Devnet Maiar EGLD balance will be updated.
BoY Announcement: https://medium.com/@ashswap/ashswap-battle-of-yields-986553c67694
BoY Reward: https://medium.com/@ashswap/ashswap-battle-of-yields-event-reward-b849431955ae
BoY Gameplay: https://medium.com/@ashswap/ashswap-battle-of-yields-gameplay-2bed07413642
