SnowBank 101

How The SnowBank V2 Works: 
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.
Snow Bank Yields*:
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.
To the platform:
4% in BUSD to xBLZD stakers via a permanent Blizzard BUSD staking pool
1.5% to harvest caller (gas reimbursement)
Last modified 1yr ago