Aug 16, 2021
Tarot Farming Rewards Program
We debut the Tarot Farming Rewards program.
Farming is not only tied to the turning of the seasons. Fields are not only of the earth.
The Tarot Farming Rewards program is an ambitious, multi-year liquidity mining program that will distribute 59% of the total supply of TAROT to borrowers and leveraged yield farmers in the Tarot Protocol.
Approximately half of all farming rewards will be distributed to farmers in the first year of the Tarot Farming Rewards program, with 3% of the total supply of TAROT distributed in the first month.
Motivation
Farming serves to reward users who actively participate in the Tarot Protocol. The Tarot Farming Rewards program will result in a fair distribution and governance over the protocol, which is essential to its long-term success.
The ability to farm TAROT by borrowing and leveraging LP tokens will help to attract borrowers. This program design powers the demand-side growth of the Tarot Protocol, with strong incentives for borrowers and, subsequently, lenders. Borrowing activity also generates additional protocol fees accrued to lenders and the protocol reserves.
Initial Farm Weights
These are the pairs that will be initially eligible for TAROT farming rewards and their share weights, across various lending pools, after the token launch:
SpookySwap
FTM-TAROT: 20%
fUSDT-FTM: 4%
USDC-FTM: 4%
FTM-ETH: 4%
FTM-BTC: 4%
CRV-FTM: 4%
FTM-BOO: 4%
FTM-ICE: 2%
FTM-BNB: 2%
FTM-DAI: 2%
SpiritSwap
FTM-TAROT: 20%
FTM-SPIRIT: 4%
USDC-FTM: 4%
FTM-ETH: 4%
FTM-BTC: 4%
CRV-FTM: 4%
SPIRIT-DAI: 2%
fUSDT-FTM: 2%
FTM-ICE: 2%
FTM-BNB: 2%
Sushi
FTM-ICE: 2%
Rewards for each farming pool are divided evenly between the pool’s underlying borrowable tokens. So, a user who borrows only one of the two underlying tokens in a pool will receive their share of 50% of the pool’s farm allocation. As an example, in the SpookySwap FTM-TAROT pool (20% total), all FTM borrowers will cumulatively receive 10%. Likewise, all TAROT borrowers will cumulatively receive 10%.
How to Start Farming
When the Tarot Farming Rewards program begins, after the Tarot LGE is finalized, users who open a new borrow or leveraged position in an eligible farming pool will accrue TAROT rewards. These rewards are claimable within the Tarot User Interface, in the Farm tab of the lending pool’s detail page.
Users who already have a borrow or leveraged position in an eligible farming pool prior to the start of the Tarot Farming Rewards program will need to activate farming on the Farm tab of the lending pool’s detail page.
Tarot powers a new generation of farming, for a new generation of farmers.
Join us:
- Website: https://tarot.to/
- Discord: https://discord.gg/6ByFHBjqE8
- Twitter: https://twitter.com/TarotFinance
