Let’s jump right in!
What is a supernova and what is this unique platform on BSC that Polaris is building?
The idea of the supernovas or this style of launchpad/yield farm was originally created by the genius minds over at GYSR on Ethereum. As the saying goes: “We are standing on the shoulders of giants”. So you can say Polaris is standing on a good foundation.
The supernova is a farming mechanism that allows projects on BSC to engage with their amazing communities and create liquidity mining events to either launch their token, NFTs or the next level — competitive farming events. These are all great ways for projects to interact with their communities and onboard new members.
Unlike other traditional yield farms on BSC, the supernovas take into consideration the amount of time a farmer spends in the pool. This is called, Time Bonus.
Time Bonus aka “Pool Seconds”: Within the code base, the time bonus is represented in seconds (how many seconds your stake stays in the pool) and is described as “pool seconds”.
For us this is very critical because it differentiates and rewards those who stake in the supernova longer. They are rewarded with a bonus multiplier, which is displayed on the UI of the supernova. The more pool seconds you have, the faster you accrue rewards.
What happens if I un-stake my total share from the pool?
If you un-stake your total position you will have to accrue your pool seconds all over again and build up your time bonus. Alternatively, If you partially un-stake to claim your rewards or add to your stake, that newly staked portion will not reset your time bonus.
Overall because this time bonus incentivizes long term liquidity provision it can be extremely beneficial to early stage projects getting ready to launch. ……………………………………………………………………..
APRD: APR (annual percentage RATE) = Flat interest rate, not related to the reinvestment of profit.
This is how your potential yielding interest is displayed on the supernovas and is affected by the total value locked in the pool and the value of the asset you are staking.
The supernovas don’t compound your yield automatically and require you to un-stake to claim your rewards and re-stake to manually compound.
The Juicy part !
Unlike traditional yield farms, where your yield is solely based on the APRD and your staked value in the pool, the supernovas allow the farmer to dramatically increase their harvested yield by spending $POLAR. What do I mean by that? Our native token $POLAR v3 can be used to multiply your rewards by 2x, 3x etc, however the only caveat is that the value of your harvest must be more than the value of the $POLAR you are spending. The amount of POLAR needed to achieve additional multiples will increase logarithmically, meaning it will cost 10 times as much $POLAR to achieve a 3x versus a 2x. …………………………………………………………………………….
Why Binance Smart Chain?
Low gas fees make this blockchain a great place for smaller farmers, Ethereum has been a challenging place for farmers or users of GYSR because of the high transaction fees.
Lastly, How does Polaris make money?
As Polaris embarks on launching its DIY supernovas along with the new UI/UX, we are proud to show you our readers and beloved community members. Not only did we think about strong utility for our token ($POLAR) throughout our ecosystem but we also thought through how we would keep this project going financially.
A percentage of rewards funded by each project is automatically sent to the Polaris treasury wallet, where it will be used to continue the growth of the project and most importantly for future community farms, buy back and burn, and any future ideas that the community will vote on. This will continue to give our token overall value as we move forward.
👨🌾 Farm & Supernovas: https://app.polarisdefi.io/
💻 Github: https://github.com/polarisdefi/
📖 Gitbook Docs: https://polarisproject.gitbook.io/polaris-defi/
🐦 Twitter: https://twitter.com/polarisdefi
💬 Telegram: https://t.me/polarisdefi
🎮 Discord: https://discord.gg/v3w9wZgcG6
📢 Telegram Announcement: t.me/polarisdefiANN