Rewards For NUSD Holders
Last updated
Last updated
NUSD Holder Season 1 rewards program is active since block 844,492 until block 886,454.
UPDATE 11/27/14: All bamk rewards up until block 872222 will be airdropped to become liquid. All remaining bamk rewards in S1 will be auctioned off daily at bamk.fi/auction with proceeds being rewarded natively to NUSD rebasing. There is no change to total Bamk rewards in S1. That remains at 6.25% of total supply.
UPDATE 11/1/24: Starting block 868383, vesting period is reduced from 41,972 blocks to 0 blocks i.e. rewards will be eligible for immediate redemption upon release of tooling.
1,311,625,000 (6.25%) of the $BAMK supply has been offered as incentives to all Season 1 NUSD holders. Simply buy NUSD and hold in your wallet to begin accruing BAMK tokens. Every block between 844,492 and 886,454 - a total of 41,972 blocks will accrue 31,250 BAMK per block, distributed pro-rata to your NUSD holdings divided by the total NUSD TVL at that block height.
A dashboard to show BAMK accrued per address is in the works.
Allocation: 31,250 BAMK per block, pro-rata, user_holdings/NUSD_TVL Duration: 41,972 blocks (~291 days) Start block: 844,492* End block: 886,454 Vesting: 31,250 BAMK per block after block 886,454, for the next 41,972 blocks
*Block 844,492 was when the first purchase of NUSD occurred
At block 846,492, Alice buys 5,000 NUSD. At this block height, the current TVL is $704,900 NUSD. So her pro-rata share is 5,000/704,900 = 0.709%
This means for every block she holds her 5,000 NUSD, her address will accrue 0.709%*31,250 = 221 BAMK tokens.
Alice decides to hold NUSD until block 856,492 - a total of 10,000 blocks or 69 days. She then sells NUSD back to BTC.
Her BAMK tokens will start to vest at block 888,464 (block 846,492 + 41,972 = 888,464), at the same rate she was allocated the BAMK. So at block 888,465 for example, she will receive 221 BAMK tokens. It will take until block height 898,464 before Alice receives her full allocation of BAMK rewards.
So the earlier you own NUSD the earlier you will start to receive BAMK.
The APY figure shown on https://www.bamk.fi/ is calculated by using the current BAMK token price - the amount will fluctuate depending on current NUSD TVL and current BAMK price.
Bamk.directory has a countdown of blocks remaining in Season 1.
