Ajna is back on Summer.fi with token rewards.
Summer.fiWe’re excited to share the news of the relaunch of .Azna ProtocolAfter a series of re-audits, the gripping vectors were revised. The protocol is ready to scale DeFi lending and borrowing once again. The integration will allow Summer.fi users to create new pools to borrow and lend against ERC-20 tokens.
With the repositioning of Ajna, Summer.fi will reintroduce Ajna token rewards and offer bonus tokens to former Ajna supporters.
Compensation for Lenders and Borrowers
The rewards plan once again incentivizes the use of the Ajna protocol by providing token incentives to users who engage in transactions through their Smart Defi accounts on Summer.fi. These incentives are tailored to encourage both lending and borrowing and promote liquidity in the ecosystem.
As a thank you to lenders, the program is tailored to reward all deposits made within the “active liquidity” zone. Active liquidity refers to lender deposits that are actively utilized in the pool, improving overall liquidity. The more tokens enter the active liquidity range, the more eligible you will be to receive rewards.
To maintain sufficient liquidity in the Summer.fi pool, rewards are biased towards borrowers, but no borrowers are excluded. Borrowers are rewarded based on the amount of tokens borrowed during the week. Each borrower borrows from a shared pool and is treated equally.
Compensation Configuration
Tokens are accumulated in each account, updated daily, and can be claimed once a week after tokens are distributed. Token amounts and pool weights are updated weekly and remain fixed each week. The distribution of rewards between lenders and borrowers will be determined by the pool and any changes will be announced on Summer.fi.
Previously accumulated rewards are still valid and will continue to be displayed in the UI and can be claimed when tokens are released. Summer.fi plans to announce any changes to pools and distribution through its communication channels.
Bonus rewards for early adopters
Summer.fi is also launching a bonus token rewards plan exclusively for early adopters. Those who participated in the Ajna protocol through Summer.fi before the griefing vector was identified will be included in a special token distribution. 5 million Ajna tokens will be distributed to early adopters over 6 weeks.
Summer.fi’s comprehensive incentives program represents another step in the platform’s pioneering of new lending and borrowing paradigms, further highlighting the company as a leader in the DeFi sector.
About Summer.fi
Summer.fiA platform for decentralized finance. Users can borrow stablecoins against their favorite cryptocurrency, increase their exposure using Multiply, or use it to earn competitive returns. This can be done across multiple protocols and layers, all in one place. Summer.fi’s mission is to provide the most trusted entry point to deploy capital in DeFi. The team is comprised of passionate thinkers and creators who strive to create better user experiences for everyone while maximizing revenue.
contact
press@summer.fi
About Azna
The Ajna Protocol is a non-custodial, peer-to-peer, permissionless lending and borrowing system designed without governance or external price feeds. The protocol consists of a pool of lenders and borrowers. Ajna expands the range of collateral tokens accepted within DeFi, allowing users to borrow and lend virtually any ERC-20 or ERC-721 token. No governance process or gating mechanism controls which assets can be used for pairing. For more information, please visit:https://www.ajna.finance
contact
david@ajna.finance
