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Polygon Launch Event

What's the Polygon Launch Event?

We are thrilled to announce that Wasabix is coming to Polygon(MATIC) network and bringing the lending protocol 3.0 to the next level. In order to compensate all the Wasabix Users, we are giving away 10,000 Polygon WASABI as the first launching event on Polygon Network. Users who stake SLP(Sushiswap Liquidity Pair) will be eligible to participate in the event.
The 10,000 WASABI reward is separated into two parts, Competition and Lottery. For competition, the 7,000 WASABI will be distributed according to the time-weighted staked in the event duration; for Lottery, we will randomly choose 7 winners to share the 3,000 WASABI reward.

How it works?

  • Competition start date: Jul 14th, 2021 13:00(UTC+0)
  • Competition duration: 30 Days
  • Competition end date: Aug 13st, 2021 13:00(UTC+0)
  • Total amount of reward: 10,000 WASABI
  • Competition prize: 7,000 WASABI
  • Competition Distribution method: Proportion to the time-weighted of your SLP token
  • Lottery prize: 3,000 WASABI
  • Lottery distribution method: Randomly choose 7 winners
  • Lottery 1st winner: 1,000 WASABI
  • Lottery 2nd~3rd winners: 500 WASABI each
  • Lottery 4th~7th winners: 250 WASABI each

How to participate in Competition?

  • Please provide liquidity(WASABI-USDC) on Sushiswap Polygon. Once completed, you will receive SLP token(Sushiswap Liquidity Pair) from Sushiswap.
  • Please stake the SLP token into the Staking Pool. Once completed, Wasabix will automatically calculated the time-weighted point for you. The calculation will be executed by every block.
  • Each block your time-weighted point will be calculated. At the end of the event, the reward will be distributed proportional to the accumulated point you get.

How to participate in the lottery event?

Everyone who contribute at least 0.00001 SLP(Sushiswap Liquidity Pair) is qualified to participate in the lottery event. The number of tickets you will get equals to your SLP holding times 10,000. The number of the tickets you have are round down to integral numbers of the SLP token.
Let's say there are two users A and B: If UserA stake 0.00168 SLP, UserA will get 16 tickets. If UserB stake 0.00032 SLP, UserB will get 3 tickets.
At the end of the event, Wasabix will take a snapshot and randomly choose 7 winners. Please note that the more tickets you have the better chance you will win the lottery.

How is the competition reward distribution look like and what is Time-Weighted calculation?

It is important to note that the WASABI reward will be distributed in proportion to the amount staked calculated by time-weighted calculation. Please allow us to make an example for you to see how it works.
Let's say there are UserA and UserB:
​
Block1
Block2
Block3
Block4
Block5
Final
UserA staked SLP
+20
+0
-10
+20
+0
​
UserB staked SLP
+0
+30
+0
+0
+0
​
​
​
​
​
​
​
​
UserA time-weighted point per block
​
+1
+0.4
+0.25
+0.5
​
UserB time-weighted point per block
​
+0
+0.6
+0.75
+0.5
​
​
​
​
​
​
​
​
UserA's accumulated point
​
​
​
​
​
2.15
UserB's accumulated point
​
​
​
​
​
1.85
​
​
​
​
​
​
​
UserA will get % of reward
​
​
​
​
​
53.75%
UserB will get % of reward
​
​
​
​
​
46.25%

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