Hey everyone!
We are now at our 15th APR Reset — — Which means 15 weeks for Swift Finance, with no signs of slowing, we are most definitely one of the longest surviving Yield Farms out there, with even the legendary Goose Finance meeting its demise a long time ago.
What’s APR Reset? Click here to find out!
Here’s an overview of what happened for Swift Finance throughout the week:
High DAILY APR. Throughout the past week, we have still been able to maintain the high daily APR rate of 1.5–2%. This was the case as well for the week before that which was roughly the same time we introduced the harvest lockup feature, which has helped to maintained/increase the price of our SWIFT token, allowing us to maintain the high daily APRs.
Better Price Action. After introducing our harvest lockup feature, our price has remained steady around the $1.9–2.0 range which shows what we’re doing now is well-received by the community. We are looking forward to increased price and higher marketcap in the coming weeks as well. Let’s go Swifters!
Increasing Marketcap. We have just breached $750,000 in marketcap value and looking on track to hit $1M very soon. This shows that many of our SWIFT holders still believe in the project and understand the vision we have for this project.
A new place to call home! As our community is growing bigger and bigger over the past months and with the anticipation of SWIFT DAO, we are looking to create our own Discord channel very soon and will be updating the community from there. More updates coming soon!
Auto-compounding — As mentioned in our updated roadmap here, we will be introducing an auto-compounding feature for Swift, as we are in the final phase of testing we feel more comfortable sharing our plans for it here:
Fee: 0.2% Withdraw fee
Fee Allocation: - 75% will be used to buyback & burn SWIFT- 25% dev
Launch Plan:We will launch our auto-compounding feature for our Native LP farms first. We expect that this will dramatically increase the APY of our Native LP farms, which will ideally bring in more demand for SWIFT and in turn a higher marketcap!
Future Plans:We will start rolling out auto-compounding farms for other platforms such as Aave or TraderJoe, most auto-compounders in the market such as Beefy or Yield-Yak do not currently support Avax incentives when you auto-compound with them. Here at Swift, we like to take it a step further by doing just that, ideally, positioning us as a unique offering in the auto-compounder market.
Here’s what we have in store for APR Reset #15!
APR Reset event —
During this time, we will force withdraw ALL NON-NATIVE farmers staked tokens back to your wallet.
Your rewards will also be automatically harvested so you won’t need to do anything.
For NATIVE farmers, your deposits will remain in the farms, so no action will be needed.
This period is also intended to be a pre-stake period to ensure early farmers would not miss a single block of reward for our farms during the emission boost.
Note: PLEASE WAIT FOR OUR ANNOUNCEMENT BEFORE DEPOSITING INTO THE NON-NATIVE FARMS DURING THIS PERIOD.
Hour 0 (12 hours after APR Reset) —
Hour 2 —
Hour 3 —
Hour 3, 30 Minutes —
With the reduction in rewards boosts, we will start to shift the rewards ratio back to native farms to help with reducing the selling pressure on the SWIFT token.
Hour 4 —
Hour 5 —
Hour 5, 30 minutes —
Hour 5, 45 minutes —
Hour 6 —
Follow us on Telegram and Twitter to stay tuned for more events!