Hi Lydians 🦁
Today is the "Auto LYD" day 🎉
Auto-compounding means that instead of manually re-staking your LYD every so often to get the best APY, it will be done for you!
What’s the difference between the “Manual LYD” and the “Auto LYD”?
With both pools, you can simply stake your LYD tokens to earn more LYD tokens.
But there are some differences:
Manual LYD
You need to harvest or reinvest (compound) your LYD by yourself. That requires returning to the website, clicking buttons, and spending a bit of AVAX for transaction fees.
Interest is displayed as APR, which doesn’t include compounding.
You can unstake at any time. No withdrawal fee.
Auto LYD
Stake your LYD and forget about it! The LYD you stake in this Electrum Pool will be automatically reinvested (compounded) for you, deducting a small fee.
Set and forget. Put your feet up while watching your LYD stack grow!
The "automatic" compounding function is triggered by other users who get Auto LYD Bounty for triggering it.
Interest is displayed as APY, which includes compounding.
10% performance fee is subtracted from your earnings each time the pool is automatically compounded.
An unstaking fee applies when you unstake within 5 days of manually staking.
Auto LYD Bounty
0.05% of all Auto LYD pool users’ pending yield. This bounty will be given as a reward for providing a service to other users.
Performance Fee
10% of each yield harvest, which is subtracted automatically from your profit. For example, if the harvest was 1 LYD, then 0.1 LYD would be subtracted as the performance fee.
Unstaking Fee
6% if you unstake (withdraw) within 120 hours. After 120 hours, you can withdraw with no fee. The unstaking fee timer resets back to 120 hours every time you stake more LYD.
What happens to the LYD collected from the fees?
The LYD collected from the unstaking fee and performance fee is burned every week regularly to help reduce inflation.
How is the Auto LYD APY calculated?
The initial APY has been set assuming the pool being compounded once per 5 minutes.
The calculation will be adjusted to provide a more accurate rate when there is some real usage data for us to go on.
Improved UI
A series of user interface updates went online along with this update. Now it is much faster and easier to use.
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