Do you want more?
More is $NEAR. $NEAR is now.
Aurigami is proud to announce that we have received a $2M DeFi rewards grant in $NEAR from Proximity Labs!🥳
If Christopher McCandless from Into the Wild has taught us anything, it’s that “happiness is only real when shared”, and who better to share this joy than you. As a token (hehe) of appreciation for our lovely community, we will be sharing the love of $NEAR in the form of EXTRA YIELDS for all of you!
More is $NEAR 🔥🔥🔥
$NEAR incentives will be distributed to the Deposit + Borrow slots of USDC.
Users who deposit/borrow USDC on Aurigami will be entitled to receiving TRIPLE YIELDS (Deposit APY + $PLY + $NEAR)!
Our goal has always been to grow the much-needed liquidity on Aurora and boost the ecosystem’s growth. As one of the most liquid crypto assets, we believe USDC has the highest potential to help grow Aurora.
From a user’s perspective, more of you can benefit more from this targeted incentive! From a protocol’s perspective, it’s more strategic to target the asset with the highest growth potential, which is incidentally the asset with (potentially) the most idle funds in Aurora.
So how much is more $NEAR?
In celebration of this joyous occasion, APYs will be BOOSTED with extra $NEAR reward from Mar. 16, 10:00PM UTC+8 to Mar. 23, 10:00PM UTC+8.
During this period, $200,000 worth of $NEAR (valued at the time of writing) will be distributed to the depositors and borrowers of USDC.
Juicy Yields 🧃
With the injection of $NEAR incentives into the USDC pool, you might encounter some odd but GOOD scenarios with the Deposit and Borrow APY:
⚠️ Note: The following scenarios DO NOT take into account $PLY incentives, which when taken into consideration will LOWER the borrow APY and INCREASE the deposit APY.
Scenario 1 — Deposit APY > Borrow APY for USDC
THIS IS GOOD.
Having a higher deposit APY than borrow APY means that the yield you earn from depositing is more than the interest you have to pay back on your loans.
This scenario is fantastic for recursive depositing and borrowing, since you can basically “borrow for free” to farm more incentives.
Scenario 2 — Negative Borrow APY for USDC
THIS IS GOOD. THIS IS VERY GOOD.
A negative borrow APY means that we’re essentially PAYING YOU to borrow, so borrow on fellow Aurigamists.
Why is this possible? The $NEAR rewards you will earn exceeds the interest you have to pay on your loans. And this is without taking into account $PLY incentives, which will push it even lower!
So what are you waiting for? Deposit and borrow now when APYs are the juuuuuiciest and incentives at the highest! 😋 Thanks to all of you, both Aurigami and Aurora are on the cusp of greatness, and this is all without the primary sale of $PLY yet! So anon, who wants to get paid for borrowing?