Our private sale C with token sale manager, Coinlist, has successfully closed with $5.2M in deposits contributed by our pre-mining program with over 300 participants.
Following by the successful close, we are announcing that DeFiner will be setting up a rewarding pool of 250,000 FIN for those who have participated in the Proof of Premium (POP) mining before the close of the private sale, in order to keep giving back to our community. This doesn’t mean newcomers won’t have a chance to participate. Keep reading for more!
Here’s how this works:
The total duration of the program is 9 months. Every 3 months we will check for the qualification and split ⅓ of the rewarding pool. The reward initial distribution will happen on Jan 15th, 2021, April 15th,2021, and July 15th, 2021.
If you have $20,000 in our savings pool, with today’s total current deposits at $5M, you now have 0.4% of the savings pool. So this qualifies you for 0.4% of the 250,000 FIN rewards pool, which is 1,000 FIN.
Now let’s say a majority of early POP users withdraw their funds, and $1M remains in the pool. You now own 2% of the savings pool, which will lead you to 5,000 FIN rewards.
- The rewarding pool tokens have a 6-month lock-up period, after which the 20% of the tokens are released monthly.
- Your final reward will be based on participants’ weighted average of daily balances.
- Your account balance cannot be less than $2K for more than 20 days.
- Latecomers have to maintain an average daily balance of 5,000 FIN or above by the end of this program for a chance to take part in the rewards program.
POP Rewarding Mechanism:
The current yield farming market is full of speculators. The DeFiner savings pool is a safe home for parking unused capital. We encourage users to use the DeFiner savings pool as a home for their capital, where they can feel safe, relax, and also earn a great return.
The Proof of Premium (POP) mining quantity will be auto-adjusted based on the price of FIN and Total Locked Value of each asset class. This controls the net APR for both lenders and borrowers within a target range for each asset class. The current target range for depositors is 10% to 30% APR. For borrowers, it is -10% to 10% APR. In this way, depositors will have a decent return for a predicted time period. For borrowers, they will have access to low-cost capital and a negative interest rate.