KEY TAKEAWAYS
- Avail and Sophon have announced a partnership, offering community members rewards through collaborative initiatives.
- AVAIL stakers can earn incentives like native AVAIL APY and exclusive rewards via Sophon’s farm mechanics.
- Participants can stake stAVAIL tokens on Sophon’s platform to earn Sophon Points and potentially enhance their deposits.
- The partnership aims to integrate Avail with Sophon to boost on-chain consumer entertainment, with future SOPH token allocations possible.
Both Avail and Sophon communities have new reasons to celebrate following the recent partnership announcement between the two projects. This collaboration offers community members the opportunity to benefit directly from the partnership through various rewards.
AVAIL stakers can now enjoy multiple incentives, including native AVAIL annual percentage yield (APY), Deq Points, and exclusive rewards through Sophon’s farm mechanics. This initiative begins with the launch of the stAVAIL pool on Sophon’s platform, accessible at farm.sophon.xyz.
Understanding the Sophon Farm
Sophon’s farm provides an early opportunity for eligible Avail community members to engage with the Sophon ecosystem. By staking stAVAIL tokens, participants can earn Sophon Points (SP) and potentially enhance their deposits for additional rewards. Currently, the farm operates on the Ethereum mainnet, as the Sophon network has yet to launch.
In the second phase of farming, participants will have the option to migrate their holdings to the Sophon mainnet, unlocking further opportunities to earn SP. For more detailed information, interested parties can refer to the Sophon farm documentation.
Benefits for AVAIL Stakers
Staking stAVAIL in the newly launched pool offers a range of benefits beyond the standard AVAIL APY. Participants can amplify their earnings through optional Boosters, which multiply SP earnings. However, activating a booster will permanently lock stAVAIL tokens, rendering them unusable for future activities or rewards on Sophon or elsewhere.
Boosters involve permanently allocating a portion or all of the deposited assets to provide liquidity on the Sophon mainnet, making these assets non-withdrawable. More details can be found in Sophon’s Boosts documentation.
Looking Ahead
Following the announcement that Sophon will integrate with Avail to enhance consumer entertainment on-chain, community members from both ecosystems have the chance to play a more active role in solidifying this partnership through the unified token initiative. By participating now, individuals position themselves for potential future benefits, including SOPH token allocations.
More activities are expected to be announced, so community members are encouraged to follow Avail on social media and stay updated on developments. AVAIL stakers should anticipate further announcements regarding the implications of this partnership.
For more information, the full announcement can be found here.
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