Today at 2pm UTC, we launch our Auto-compounding single asset staking pool!
We know you’ve been waiting forever for it. Most of you understand why it took a bit longer than anticipated, and if not please refer to our previous article. If I do say so myself, it was definitely worth the wait.
What is it?
This pool is a preliminary test for our core product launching soon, which will combine auto-compounding staking rewards with auto-compounding casino profits. For this pool, are allocating 500k $CRUSH to be earned by staking over the next 4 weeks or so. We anticipate our core product launch being sooner, but sometimes things come up, so in the case it lasts a bit longer we will add more rewards to the pool.
The point of this staking pool is to reward our true believers and fanbase, while testing out the functionality of this of pool for our core product. Audits have been done on this pool by Hashex so funds are SAFU, however there will be updates and iterations for the next version of this pool so this is a perfect live test of our core use case.
How does it work?
Take all that $CRUSH you’ve been accumulating over the last few weeks (we know no one here sold because we have the best community in all Defi) and simply stake it like you would in any other pool.
The way this works is that as you accumulate $CRUSH rewards, any user can compound the rewards for the entire pool by pressing the “Claim” button in the Crush Auto Bounty card. This will compound for everyone who is staking, and will reward the user who called the function with a bounty.
As rewards accumulate, you will see the “Crush Auto Bounty” start building. This is based on a fee of .1% of all rewards earned since the last claim. Anyone can claim this bounty by compounding for everyone staked in the pool.
Keep an eye on it, because it’s a great way to earn extra $CRUSH by compounding for everyone else.
How do the fees work?
Like other auto-farms/pools, there is a small performance fee taken from everyone auto-compound.
Here’s the breakdown:
0.1% Auto-Compound Bounty Claim. The reward for the user calling the compound function for the entire pool. This reward is double the Pancake Swap reward of .05%.
1.9% Platform fee. Standard.
1% Burn on every compound. This is being testing in this pool as we see it as a great use case when distributing casino profits.
For a Grand Total of — 3%
Please note if you harvest, or manually compound yourself, these fees will not be taken.
Additionally there is a 0.5% early withdraw fee if staked funds are removed within 72 hours. We are implementing this as we want our users to understand these funds will be used as bankroll in our core product, so the longer they are left in the pool, the better it is for the health of the project. Some projects take a fee right off the top, or require tokens locked which we don’t want to do, so we are testing this method. When the dual rewards begin the early withdrawal fee will likely be bumped to 1%, but we don’t see a reason for that at the moment.
It’s important to note the early withdrawal fees will be added directly to the house bankroll which will allow us to scale quickly and efficiently.
This pool was a complete redesign from the ground up which is what took a bit longer. You’ll notice in the audit report there are a few issues we’ve chosen to solve in the next iteration since this pool is temporary. Nothing that affects the safety of funds, but from a performance stand point. We don’t see this temporary pool being around long enough to run into any real performance issues. Additionally we have renounced ownership of the token meaning no new $CRUSH can ever be minted.
See the full audit here:
While funds are safe, just note there may be a few things we need to adjust for the next round, and that’s exactly what this pool is all about. By the time our games launch we aim to have the best single asset pool in all Defi, so we appreciate you being patient with us.
We will be updating everyone next week on the status of our core product rollout including bankroll, live wallet, double reward staking pool, and game integration. Everything is tied together so it’s complex, but we’re getting close to integration and testing so will get everyone up to date next week.
Let’s get through a smooth launch so we can all -