Introduction
Opening event - Test Phase
Last updated
[Ended] Gambit USDC Staking Initiative
Opening event - Test Phase
Last updated
This event has ended.
As part of our GamBit's exciting launch event, we're offering you the opportunity to earn interest on your USDC deposits. For the next 12 weeks, you'll receive an equal number of CNG tokens (1:1) based on the amount of USDC you deposit. Say, for instance, if you deposit 1,000 USDC, after 12 weeks you'll receive 1,000 CNG tokens. As of today (August 4th, 2023), that equates to around 58 USDC. This turns out to be roughly a 26% annual yield or APY.
The Gambit platform generally allocates Closing Fee of 0.04% of the transaction amount in USDC to USDC vault depositors. While your earnings from the transaction fees will naturally vary with the volume of transactions, you can generally expect an APY of about 10%.
By combining these two sources, the deposit event and transaction fees, you can expect an APY of approximately 36% (26% in CNG + 10% in USDC). This projected yield is based on current conditions, and it could fluctuate depending on changes in the price of CNG tokens and trading volume. If you wish, you can withdraw your deposit at any time. However, to earn your rewards, you'll need to keep your funds deposited for the entire 12 weeks.
If you deposit 10,000 USDC or more, we'll double the rate of your CNG token interest. This means, if you deposit 10,000 USDC into the vault, you'll receive 20,000 CNG tokens 12 weeks later, which is approximately 1,160 USDC at the current rate(2023 Aug 4th). When you convert this into APY, it comes out to be an annual yield of about 52% on top of the closing fee of 0.04% Gambit generally allocates.
Depositing more than 1,000 USDC during the duration of our launch event, we'll elevate you to the top referrer level where you'll have the chance to earn the highest possible referral rewards. (Once the launch event ends, the referrer level you receive will depend on your transaction volume during the event). Use your top referrer status to invite friends to our platform and make the most of this offer. For more details about the referral rewards, please refer to our referral page.
Event Start Date: August 1, 2023
Event End Date: When a total of 350,000 USDC has been collected in the USDC Vault
After the event ends, the rewards will continue but at a ratio of 1:0.5 instead of 1:1(Until the vault reaches a cumulative staked volume of 1,000,000 USDC). For more details, please visit our rewards page.
Typically, when you invest in a financial product and earn a return, that return is paid in the same asset. For example, Bitcoin earnings are paid in Bitcoin, and Ethereum earnings are paid in Ethereum. However, GamBit has a unique structure where we pay all asset profits and losses in USDC. This structure allows us to offer a wider range of virtual assets for trading compared to other futures exchanges.
USDC acts as the engine for Gambit and securing more liquidity allows active trading of variety of assets. As such, we aim to provide various benefits to our initial suppliers who contribute to the liquidity to the USDC vault.
We greatly appreciate the support and participation of our GamBit community members. Thank you!
