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The total reward amount for Genesis Farm is 50 million $octo. The specific reward rules and distribution details will be decided based on the vote of the OctoDAO.
In addition, you can earn additional $veOcto rewards in return by vote participating in DAO governance and vote. This is an innovative incentive mechanism we call Vote Farm.
During the phase light, Genesis Farm will open stETH pool, ETH pool, and Octo-wETH LP pool for users to provide liquidity and earn rewards.
Days 1~7, with a total of 31,500,000 $veOcto reward
- Octo-wETH LP pool : 1,300,000 $veOcto/DAY
- stETH Pool : 1,900,000 $veOcto/DAY
- ETH Pool : 1,300,000 $veOcto/DAY
Genesis Farm will open voting for the distribution of $veOcto rewards among the pools before the next phase Air. Users will be able to vote on the allocation ratio to make the APRs of each pool more balanced.
The voting mechanism will take into account the size of each pool, with larger pools receiving a higher distribution ratio, but diluted by the larger pool size. Smaller pools, such as the LSD pool, will receive a lower allocation ratio, but with a higher APR per token due to their smaller size.
In phase Air, Genesis Farm will introduce new pools: rETH, fraxETH. The rewards distribution ratio among the pools will be determined by the voting results.
During phase Air, Genesis Farm will also open voting for the next phase Sea. Users will be able to vote on which new pools to add to the platform and how to distribute $veOcto rewards among all pools. This will ensure that the platform remains responsive to the needs and preferences of its users.
What exact pools will be added and the distribution ratio among the pools will be determined by the voting results.
Additionally, a LaunchPad feature could be introduced to allow users to vote on the distribution ratio of $veOcto rewards among different LaunchPad pools.
Genesis Farm will introduce a governance mechanism that allows users to exercise their voting rights by locking their $veOcto tokens. This will enable users to participate in DAO governance and earn additional $veOcto rewards in return.
The design of the Vote Farm is to encourage more users to exercise their governance power and participate in the decentralized governance of the Genesis Farm protocol. By incentivizing community participation, Genesis Farm aims to create a more decentralized and community-driven platform that better reflects the expectations and needs of its users.