Bribe Protocol on Polygon(Matic)
We are excited to announce Bribe Protocol is going to expand on Polygon Network(previous Matic), a high-capacity Ethereum L2 sidechain.
Launch Time: 2021 May 12, 12am UTC
$BRIBE Token address on Polygon: 0xA9e0CDE4bE86F5DF7e2888753E5F663A41220469
Explorer: https://explorer-mainnet.maticvigil.com/address/0xA9e0CDE4bE86F5DF7e2888753E5F663A41220469
Ethereum-Polygon Bridge: https://wallet.matic.network/
Dex on Polygon: https://quickswap.exchange/
Why Launch on Polygon?
In the last three weeks, Bribe has experienced a smooth launch and rapid growth on Ethereum Network. Yet, the gas fee is often discussed in our community, affecting token trading and farming activities. How Bribe could provide a more affordable and efficient option for yield farms through cross-chain integrations is vital to the success in reaching out to broader user bases.
Polygon’s low fee, high-performance side-chain network enables users to trade, stake, and withdraw with minimal MATIC to transact in. The first advantage among many is that Bribes can compound their yields much more frequently to get a better profit margin. The strong and growing user base on Polygon will increase volume to Bribe Farm significantly. With more Dapps like Aave and Curve landing on Polygon, the network will also give Bribes more accessible finance options in the DeFi ecosystem.
Bring Liquidity to FRAX
We believe decentralization is the most important and fascinating feature that blockchain brings to finance, where algorithmic stablecoins play an essential role in the DeFi infrastructure. This time, Bribe is proud to provide utilities to FRAX through a group of yield farming pools on Polygon Network.
FRAX is the first fractional-algorithmic stablecoin in DeFi, decentralized to a large extent, and keeps a tight price peg of $1. FXS (Frax Share) is the governance and utility token of FRAX. Bribe will provide single asset pools for FRAX and FXS, and FRAX-BRIBE LP pool with a higher farming reward. Through providing a cluster of farming pools and connections with valuable digital assets like ETH and WBTC, Bribe will bring a new route to FRAX’s liquidity on Polygon and build a better ecosystem for algorithmic stablecoins.
New Yield Farming Incentive Plan
Three types of pools will be deployed on Polygon Network, BRIBE rewards emission will follow the step chart below which intent to prevent excessive token release yet still provide juicy incentives. For example, if there is 200k staked in ETH pool, daily BRIBE rewards are 500; if there is 300k staked in ETH pool, daily BRIBE rewards are 1000.
The initial incentive for single asset and algorithmic coins pools are 500 BRIBE per pool per day, and for BRIBE liquidity provider pools are 1000 BRIBE per pool per day initially. Same step rules will be followed. In short, liquidity provider pools are allocated 2x compared to single asset pools.
🌊Launch SPECIAL - Single Asset Pools
Period: May 11, 12am to May 25, 12 am
- ETH pool -500~1500 $BRIBE/day
- WBTC pool -500~1500 $BRIBE/day
- DAI pool - 500~1500 $BRIBE/day
- USDC pool - 500~1500 $BRIBE/day
Deposti Fee: 1.5%
🌱Algorithmic Stablecoin Pools
- FRAX pool -500~1500 $BRIBE/day
- FXS pool -500~1500 $BRIBE/day
Deposit Fee: 1%
🌼BRIBE Liquidity Providers
- BRIBE/FRAX -1000~3000 $BRIBE/day
- BRIBE/ETH -1000~3000 $BRIBE/day
No Deposit Fee
Deposit fees collected from all pools will be given back through BRIBE Staking Vault. If you stake BRIBE in the staking vault with a 7-day lock period, you can earn a share of protocol fees daily. We have migrated protocol fees collected from Ethereum mainnet to Polygon network and added as initial rewards to the staking vault. Fees will accumulate over time to make the staking even more profitable!
Yes!!! Airdrops🪂
1. For FRAX and FXS holders
Snapshot will be taken on May 11. Addresses holding more than 100 FRAX or 20 FXS on Polygon, or if you made a deposit to Quickswap FRAX-FXS pool in the past month, or if you staked Uniswap FRAX-USDC, FRAX-ETH, FRAX-FXS of more than $1000 in Frax Staking Pool on https://app.frax.finance/staking, you will be eligible to claim BRIBE on https://matic.bribe.money/airdrop/. Bribe is pleased to invite FRAX users to join our farm to get returns for your best algorithmic coins.
Total claimable amount: 10,000 $BRIBE
Claiming period: start from May 17, 12am UTC. First come, first serve.
2. For early Bribe LPs on Ethereum Network
Snapshots were taken every day in the first week since Bribe launched on Ethereum mainnet. Early liquidity providers will be able to claim your rewards on Polygon Network. As many community members love BSC, we would like to give you the best choice. You can claim rewards on Polygon, if you don’t claim at the end of May, we will migrate your rewards on BSC for your best interests.
3. For Community OG
Your airdrops are ready on Polygon Network, if you haven’t claimed it on Ethereum mainnet 🍺 Same as above, you can choose to receive it on BSC at a later time.
4. For Twitter Meme Creators
We have contacted each of you, and thanks for your incredible submissions.
