We have already announced the start of Ambit Finance in February 2024, along with the upcoming $AMBT airdrop and the Ambit Finance Incentivized Alpha.
We would like to clarify the Ambit Incentivized Alpha and the way in which customers will be rewarded for their assistance in supporting Ambit Finance in achieving its long-term goals.
For all chains and DeFi apps, $AUSD becomes the de facto yield-enhanced stablecoin.
Establishing the conditions needed for Ambit Finance’s yield to serve as the industry standard for all cryptocurrency.
Table of Contents
Read More: What are Crypto Airdrops?
Objectives for the Ambit Finance Incentivized Alpha
In accordance with our earlier article, we note that significant liquidity is necessary to maintain the Ambit Finance lending market, which is the backbone of $AUSD. For this reason we think that $AMBT and the Ambit Finance Incentivized Alpha will be important for bootstrapping liquidity on Ambit Finance.
A number of objectives are aimed at by the Ambit Finance Incentivized Alpha:
Offer Early Access:
While gathering community feedback on our products to improve them even further, we will be offering an early-access version of Ambit Finance.
Bootstrap TVL
We intend to aggressively boost TVL through the Ambit Finance Incentivized Alpha since we understand how important deep liquidity is to a healthy lending market.
Incentivization with $AMBT:
We want to release some $AMBT through an airdrop in return for Ambit Finance giving us liquidity.
Introducing Ambit Finance Points and Leaderboard
Ambit Finance will launch a points system where users will receive Ambit Points for their activities on the platform as part of our efforts to gamify our user experience. The community will be able to follow the top contributors to Ambit Finance using TVL and Ambit Points thanks to a new Leaderboard feature added to our user interface.
Designing the $AMBT Airdrop Campaign via the Ambit Finance Incentivized Alpha
We plan to use 5% of $AMBT for airdrops across several seasons in an effort to use $AMBT to achieve Ambit Finance’s long-term goals. Following the $AMBT TGE, which is anticipated in Q2 2024, the community will get Seasons 0 and 1 of the Ambit Finance airdrop. Remaining seasons will receive the $AMBT that wasn’t used for Season 1, more details on which will be released when available.
Season 0: Awarding Early Adopters
Ambit Finance has been lucky to have a devoted community that has supported us from the time of our beginning in November 2022 till our launch. We have received helpful suggestions from our community on Discord, Zealy and Galxe through our testnet, which has helped us as we have developed the Ambit Finance product suite. These users will be able to obtain more Ambit Points in Season 1 and beyond, in addition to being able to obtain airdrops that will account for a little portion of the token supply. Ever since the testnet was introduced last year, there have been frequent snapshots.
Season 1: Bootstrapping Liquidity by Minting AUSD
Users that contribute liquidity to Ambit Finance will receive Ambit Points on a daily basis; one point is worth $100 of liquidity. Throughout the season, Ambit Points will be generated everyday with $100 of liquidity maintained for 10 days being worth 10 Ambit Points. Sticky liquidity providers will be given priority over those that engage in short-term airdrop farming. The Ambit Points have certain multiplier effects which are explained in more detail below.
Since Season 1 is retrospective, Ambit Points will be collected for any liquidity supplied from the Ambit Finance Incentivized Alpha’s launch on February 1. Your portion of the airdrop at the end of Season 1 will depend on your overall Ambit Point total in comparison to other users.
Criteria 1: Rewarding TVL contributors for Minting $AUSD
As the backbone of $AUSD, deep liquidity is necessary to maintain a healthy lending market on Ambit Finance. A 1.5x multiplier on points will be given to users that deposit liquidity to mint AUSD.
Criteria 2: Rewarding TVL contributors for building their portfolio
Points will also be awarded to users that add whitelisted assets (such as $WBTC, $WETH, $BNB, $CAKE, $USDT and $AUSD) to their portfolio in order to establish a borrowing position.
Criteria 3: Rewarding TVL contributors that Borrow
Ambit Points are awarded to borrowers who contribute to a healthy two-sided loan market and drive Ambit Finance’s utilization rate.
Criteria 4: Rewarding Liquidity Providers for $AUSD Trading Pairs
Its utility is what gives it its real worth, just like any other stablecoin. Ambit Points will also be given to users that contribute liquidity to the $AUSD/$USDT pool on PancakeSwap in an effort to promote deep liquidity for trading through $AUSD. In order to increase the usefulness of AUSD, we will work together with other ecosystem participants and aim to compensate those liquidity suppliers as well.
Read More: Nine Best Sites for Crypto Airdrops in 2024
Final Outcome About Ambit Finance
Please feel free to contact us through Twitter and Discord if you have any comments about the Ambit Finance Incentivized Alpha and our $AMBT Airdrop Campaign. We look forward to hearing from you!