COMFI Farming to Begin on May 5!
Our first distribution of COMFI tokens to our users is set to begin on May 5, 2021 . After this date, you will be able to farm COMFI by staking any CompliFi derivative or LP token, as well as the Uniswap COMFI-ETH LP token at app.compli.fi/farm.
Below, you will find information on key dates and numbers, on eligible assets and how to stake them. Please be sure to educate yourself about derivative farming risks and strategies, at the very least by reading our earlier post on the topic.
PLEASE NOTE! COMFI token does not guarantee or promise any rights to its holders, whether in terms of ability to influence CompliFi’s development, or to receive any financial gain from CompliFi’s activities, now or in the future.
All distributions of COMFI tokens in accordance with the terms set out in this post are at complete discretion of CompliFi. CompliFi retains the right to cease any and all distributions at any time and for any reason.
This post is for general information purposes only. It does not constitute investment advice or a recommendation or solicitation to buy or sell any investment, or to issue or trade derivatives, and should not be used in the evaluation of merits of any financial or investment decision.
How It Works
Our farming program is designed to distribute COMFI rewards to all CompliFi users, whether derivative traders or liquidity providers.
At the start of farming, CompliFi will be featuring four live derivative pools (settlement on June 1, 2021): BTCx5, ETHx5, LINKx5 and UNIx5. Each of these pools has three tokens: the “Up” and “Down” derivatives, and the LP token. All of them can be used to farm COMFI.
In order to start farming, you need to deposit your tokens at app.compli.fi/farm. Once that is done, your rewards will accrue automatically — no further action required. You can withdraw your tokens at any time, after which point you will stop receiving rewards.
Please note that derivatives from our first series, i.e. BTCx5 and ETHx5 settling on 1 May 2021, are not eligible for staking in this farming program.
Each eligible derivative and LP token will get its own farm with a separate COMFI reward allocation, translating into a fixed amount of COMFI distributed per block. This per-block COMFI amount will be split among users according to their shares in the total number of tokens deposited on the farm.
Part of the COMFI rewards you receive will be timelocked. Specifically, 1/3 will be unlocked and can be withdrawn immediately, while the rest will be unlocked in equal portions on approximately 1 September 2021 and 1 December 2021 (unlocks are based on ETH block numbers, so the actual dates may vary).
Key Numbers
- Total rewards: 1,000,000 COMFI (10% of total supply)
- Farming starts: ETH block 12375000 (c. 12:00 UTC, May 5 2021)
- Farming ends: ETH block 12545000 (c. May 30 2021)
- Rewards unlocked: 33.4% immediately, 33.3% after block 13150000 (c. Sept 1, 2021), 33.3% after block 13750000 (c. Dec 1, 2021)
Eligible Assets
- Uniswap COMFI-ETH LP token
- BTCx5 LP token, BTCx5 Up, BTCx5 Down
- ETHx5 LP token, ETHx5 Up, ETHx5 Down
- LINKx5 LP token, LINKx5 Up, LINKx5 Down
- UNIx5 LP token, UNIx5 Up, UNIx5 Down
Reward Allocations
- Uniswap COMFI-ETH LP token: 200,000 COMFI (2.0% of total supply)
- LP token for each derivative: 100,000 COMFI (1.0% of total supply)
- “Up” token for each derivative: 50,000 COMFI (0.5% of total supply)
- “Down” token for each derivative: 50,000 COMFI (0.5% of total supply)
In total, there will be 4 LP token farms, 8 derivative farms and one farm for COMFI-ETH LPs.
As ever, please remember that decentralised derivatives are an early experimental product. Even if you have a solid fundamental understanding of financial engineering (which you absolutely should have to even consider committing capital to such instruments), you may still lose money for any number of reasons. As a rule of thumb, please assume that you will lose all of the capital you put in.
Important Links
If you are interested in joining the game of derivatives with no margin calls, or just want more information about CompliFi and its governance token COMFI, please visit our social media channels and documentation hubs listed below.
