SnowBank 101
- 1.An investor deposits a liquidity pair or single asset into a SnowBank Vault (CAKE-BUSD for example).
- 2.The deposited asset is then sent to a strategy contract that invests and manages the asset in other BSC ecosystem projects, i.e. Pancakeswap. This is a common practice for all vault protocols.
- 3.The yield generated from these protocols is harvested, then sold for BUSD. The BUSD is used to purchase GALE, and autocompound your BUSD.
- 4.The underlying asset (BUSD) for GALE is farming on other platforms such as Alpaca.
- 5.You can claim the yields from GALE by selling an equal amount back to the contract. You'll receive the interest, plus the underlying assets. This effectively doubles your yields.
- 6.Every sale of GALE incurs a tax, locking some assets in the burn address forever. This creates a rising price floor for future redemptions.
- 47.25% in Autocompounded LP, such as CAKE-BUSD. Your deposit amount will rise.
- 47.25% in GALE, an interest-bearing token backed by BUSD.
- 4% in BUSD to xBLZD stakers via a permanent Blizzard BUSD staking pool
- 1.5% to harvest caller (gas reimbursement)
Last modified 1yr ago