Introducing the BOOFI Mania!
BooFi: The sleekest DeFi project on Avalanche.
Now that the Cauldron, and Well of Souls are well established, it’s time to focus on accelerating the Cauldron’s Pressure mechanism. We’ll also be working to release the world’s first, deflationary NFT ecosystem. The latter will be yet another source of capital for zBOOFI holders.
By optimizing the liquidity you provide, the Cauldron generates multiple rewards such as JOE, AVAX, etc. It then sells these tokens to buy BOOFI. By doing so, the APRs of BOOFI/AVAX and other tokens are boosted, which in turn attracts more TVL. These innovative mechanisms generate pressure, one of the many reasons why BooFinance shines above the rest.
By introducing the BOOFI Mania, we’ll be incentivizing strategic tokens to continue bootstrapping the Cauldron’s liquidity. This generates, even more, buy pressure for the BOOFI token, this pressure is ever increasing as TVL grows.
Since the BOOFI purchased is directly rewarded to Well of Souls, everyone participating in the Well will see a handsome increase in rewards. This positive feedback loop is always geared towards rewarding zBOOFI holders and shielding their tokens from supply expansion. This is achieved by the Dynamic Withdrawal Fee which ensure zBOOFI is always growing in value.
Each token that’s added to the BOOFI Mania calendar will be receiving some very lucrative treatment during its debut. We’ll be modifying the Cauldron’s emissions to aggressively boost the APR of each of the tokens.
This is a way to both reward Ghost Farmers, as well as attract new players into the BooFinance Ecosystem. Make sure to prepare your wallets, given that each BOOFI Mania boost will only last between 24 and 48 hours during this first iteration.
Tuesday, 1st — AVAX (48 hours)
Thursday, 3rd — USDC.e (24 hours)
Friday, 4th — PTP/AVAX (48 hours)
Monday, 7th — BOOFI/AVAX JLP (48 hours)
How can I participate?
Reaping the benefits of the BOOFI Mania is simple, yet strategic. Several tokens will be chosen to receive a massive increase in returns, this motivates farmers outside the protocol to upgrade their yield in the Cauldron, to not lose out on the massive APR increase.
To reap the ultimate benefit from the BOOFI Mania, you must attempt to deposit as many of the participating tokens as you can into the Cauldron. The more you put in, the more rewards you will earn. We like to keep it simple.
