polyWAVE
Innovatively Sustainable Yield-Farming
Last updated
Innovatively Sustainable Yield-Farming
Last updated
polyWAVE launched on August 1st, 2021. Our primary goal is to add value to the SURF ecosystem so remember, if you own SURF or TOWELs you will be able to stake them in polyWAVE without paying a fee to earn WAVE tokens with no risk.
Website: https://polywave.finance/
WAVE Token: 0x4DE7FEA447b837d7E77848a4B6C0662a64A84E14
Total Supply: 10 million
Single Asset Staking (no impermanent loss!)
IFO (Initial Fair Offering) Deposit any amount of MATIC during the IFO and receive your proportional share of 3 million WAVE
Initial liquidity will be 2 million WAVE and whatever amount of MATIC is raised during the IFO (guaranteeing a higher starting price than the price the IFO participants pay)
5 million WAVE will be continuously distributed during the farming phase at a rate of 50% of the remaining rewards per month, indefinitely. 2.5 million the first month, 1.25 million the second month, 625k the third month, etc
Most pools have a 2.5% staking fee and 1.5% unstaking fee and each of these fees decrease over time
The SURF, TOWEL, wRBT, and wLEV pools have no staking or unstaking fees
The WAVE/MATIC LPT pool has no staking or unstaking fee
Fee Breakdown *
33.3% -> Sent to the SURF treasury as tokens and can be used in future WAVE staking vaults
33.3% -> Buys WAVE
Half is distributed as rewards to the pool being staked in
Half is supplied as liquidity and locked
16.7% -> Buys MATIC and is supplied with WAVE as locked liquidity
16.7% -> Buys TOWELs to be used for a future WAVE staking vault
* Exception: 100% of all fees to the WAVE pool go back to WAVE pool stakers as rewards.
The more MATIC raised in IFO, the higher the initial starting price of WAVE and the higher the APY for every pool so please spread the word!
High Emission Pools
WAVE (5% deposit / 5% withdrawal fees)
WAVE/MATIC (No fees)
SURF (No fees)
TOWEL (No fees)
Stablecoin Pools
USDC (2.5% deposit / 1.5% withdrawal fees)
USDT (2.5% deposit / 1.5% withdrawal fees)
DAI (2.5% deposit / 1.5% withdrawal fees)
Token Pools
WMATIC (2.5% deposit / 1.5% withdrawal fees)
WETH (2.5% deposit / 1.5% withdrawal fees)
WBTC (2.5% deposit / 1.5% withdrawal fees)
UNI (2.5% deposit / 1.5% withdrawal fees)
QUICK (2.5% deposit / 1.5% withdrawal fees)
AAVE (2.5% deposit / 1.5% withdrawal fees)
LINK (2.5% deposit / 1.5% withdrawal fees)
AGAr (2.5% deposit / 1.5% withdrawal fees)
pCOMB (2.5% deposit / 1.5% withdrawal fees)
LMAO (2.5% deposit / 1.5% withdrawal fees)
TITAN (2.5% deposit / 1.5% withdrawal fees)
Special Pools
wRBT (No fees)
wLEV (No fees)
Fair Distribution
Half of all WAVE tokens (5 million WAVE) will be distributed via the IFO and initial liquidity event:
IFO - Anyone can deposit MATIC and will receive an allocation of 3 million WAVE, proportional to the total amount deposited once active. The amount of WAVE received will equal: (User's IFO MATIC Deposit / Total IFO MATIC Deposits) * 3,000,000
Initial Liquidity Event - All MATIC deposited will be matched with 2 million WAVE to be used as liquidity on Quickswap and locked in a treasury contract. The initial locked liquidity will equal: (Total IFO MATIC Deposits + 2,000,000 WAVE = Initial Locked Liquidity)
Since IFO providers will be receiving 3 million WAVE vs. the 2 million WAVE added to the Initial Locked Liquidity, IFO providers will pay 33.33% less than the initial price of WAVE in the liquidity pools.
The remaining half of WAVE tokens will be used for rewarding users that stake in any of the pools. WAVE will be rewarded indefinitely but emissions will decrease over time.
Single Asset Farming
Users can stake ERC-20 tokens like USDC, WETH or WBTC easily without the need to provide liquidity or deal with impermanent loss.
Each pool rewards WAVE at different rates and the more value locked in a pool, the lower the rewards per dollar staked. Most pools have a deposit and withdrawal fee, however a portion of each fee is distributed back to everyone staked in that pool as bonus WAVE rewards.
Variable Reward Rate
As polyWAVE is designed to reward stakers indefinitely, the rate of WAVE rewarded per day will decrease over time. Rewards will be dense at the beginning but after a year, each pool will be rewarding considerably less per day.
After one month, half of the total rewards will be distributed to the pools. The next month will offer a further half of the remaining tokens (one quarter of the total original rewards) and so on for all future months.
Decreasing Fees
Because the WAVE reward rate decreases over time, it's only fair that the pool fees decrease too. Both the deposit and withdrawal fees will be proportional to how much WAVE has already been rewarded compared to total rewards.
When half of the total rewards have been emitted, the deposit fee will be half of what it was compared to entering at the beginning. The withdrawal fee scales in a similar way albeit at a slower rate.
The polyWAVE Treasury will provide profit sharing rewards to WAVE holders from Treasury investment yields and polyWAVE vault fees.
The cornerstone of the WAVE token is the polyWAVE Treasury (herein Treasury). Initial funding for the Treasury comes from staking/unstaking fees on the polyWAVE platform. Treasury funding from fees will slowly decrease as staking/unstaking fees decrease in conjunction with WAVE token emissions. As Treasury funding from staking/unstaking fees go down, they will be supplemented, and eventually surpassed, by ongoing Treasury Investment Yield and polyWAVE Vault fees:
Treasury Investment Yield - Treasury assets will be put to work to earn yield for the purpose of:
Increasing Treasury asset values
Providing profit sharing rewards to WAVE holders
Providing profit sharing rewards to the SURF.Finance ecosystem’s central community DApp, The Whirlpool.
The allocation of Treasury yield to the above three options requires careful consideration, and is yet to be determined. The allocation will need to improve the value and utility of the WAVE token, while taking into consideration its place within the greater SURF.Finance ecosystem.
polyWAVE will never have a dev fee. Outside of transactions, all fees are cycled back into the polyWAVE ecosystem, with the majority going to the Treasury.
polyWAVE Vaults - Vaults are proxy contracts users can stake tokens (usually liquidity pool tokens) into for the purpose of auto compounding farming rewards. A vault utilized automation and economies of scale to make frequently inexpensive compounding transactions. In exchange, the vault will take a portion of the compounded rewards as a fee. This fee is usually low, and is generally offset by the utility and convenience of frequent automated compounding.
polyWAVE vaults will be unique in that all fees will go to the Treasury. Just like the above-mentioned Treasury Investment Yield, polyWAVE Vault fees will be used to increase Treasury asset values, provide profit sharing to WAVE holders, and provide profit sharing to the Whirlpool.
