Saffron Will Now Distribute SFI For Alpha Finance Lab’s ibETH/ALPHA Liquidity Providers
Liquidity providers of ibETH/ALPHA pool on Uniswap now can provide liquidity through Saffron to not only get ALPHA in terms of high trading fees APY but also receive SFI starting from December 15th, 6AM UTC!
Note that Saffron.finance contract has not been audited, so please do your research before supplying the liquidity.
How do you get both ALPHA and SFI?
ALPHA is being distributed to liquidity providers of ibETH/ALPHA in a form of high trading fees APY. Whether you provide liquidity directly on Uniswap, through Alpha Homora (ALPHA Pools tab), or through Saffron, you will receive these ALPHA rewards when you remove the underlying liquidity (not airdropped to your wallet). To learn more on how Alpha Finance Lab is distributing ALPHA to liquidity providers of ibETH/ALPHA pool, please refer to our documentation here.
In order to receive SFI in addition to ALPHA, you need to either provide the following on Saffron:
- Provide ibETH and ALPHA
- Or provide UNI-v2 LP token of ibETH/ALPHA pool for those who have already provided liquidity to the pool
Note that by supplying your liquidity on Saffron, your liquidity will be locked until the epoch ends (every other Sunday at 2pm UTC). For example, the first epoch will run from Dec 15th, 6AM UTC - Dec 27th, 2pm UTC. The liquidity that you provide and the rewards earned from this period will be locked until Dec 27th, 2PM UTC. The second epoch then starts on Dec 27th, 2PM UTC and runs until Jan 10th, 2PM UTC.
After each epoch, you will be able to remove UNI-v2 LP token and earn SFI earned for the epoch. Note that you will receive ALPHA when you remove the underlying liquidity from the pool on Uniswap.
Step 1: Go to Saffron.finance, select Liquidity Pools, and select ibETH/ALPHA pool
Step 2: Supply both ibETH and ALPHA if you have not already done so. If you have already provided liquidity and have UNI-v2 LP tokens, you can skip to step 3.
Step 3: Follow the step to deposit UNI-v2 LP token to Saffron.finance in order to be eligible to receive SFI.
Step 4: After each epoch, liquidity providers can claim SFI and remove liquidity by selecting the Redeem tab. This means that the first day that you can claim SFI rewards is Dec 27th, 2PM UTC.
What is Saffron.finance?
Saffron Finance is a DeFi protocol introducing risk-selection tranches to enable its users to have access to customizable risk management. Users can choose from different popular token liquidity pools (DAI, ETH, SUSHI, etc.) and are able to personally decide how much risk they're willing to take-on by joining a specific tranche. It is currently the only live DeFi protocol in this space that accomplishes this.
About Alpha Finance Lab
Alpha Finance Lab is an ecosystem of cross-chain DeFi products that will interoperate to bring optimal alpha returns to users. Alpha products focus on capturing unaddressed demand in DeFi in an innovative and user friendly way.
We are moving at a rapid pace, so we encourage everyone to join our Telegram / Discord for the latest updates, follow us on Twitter, or read more about us on our Blog!
We are also recruiting for developers and looking for passionate community members who are looking to contribute to the Alpha ecosystem. If you are interested, please feel free to reach out to @tascha_panpan on Twitter.