Do more with your STRK during this cosmic rush.
UPDATE: STARFALL EXTENDED
Exciting news! STARFALL will go into overtime, extending beyond its original end date of 24 February 2024 06:59 UTC to 27 February 2024 06:59 UTC.
Heres what you need to know:
- Users may continue to earn additional rewards on their STRK deposit, with a maximum of 5% APY. The APY will adjust dynamically based on the maximum distributable rewards of 18,750 STRK for the extension period.
- Rewards will be calculated, displayed, and claimable alongside initial STARFALL rewards on March 6th.
- Collateral and Borrow Caps: Reminder that collateral and borrow caps have now been enabled. Users will be able to earn a base yield on STRK as well as borrow against the asset. You may refer to our Gitbook for more information.
Get ready for the trading debut of the $STRK token on 20 Feb at 12:00 UTC! STARFALL is a celestial event on zkLend that will give users the chance to earn additional STRK on their STRK for a limited time.
Stake $STRK earn $STRK, welcome to STARFALL! 🚀
What You Need to Know
- Double digit APY: From 21 February 2024 07:00 UTC to 24 February 2024 06:59 UTC, deposit your STRK tokens and earn up to an additional 20% APY. Your deposits will be secure in our pools before STRK market pool is activated for lending and borrowing. 💼
- Cosmic Event: This 72 hour window is your moment to shine and rush $STRK STARFALL rewards. You are welcome to deposit $STRK before the earning window to ensure you maximize on your earnings from second 1! ⏳
- Starfall for all: No enrollment required. Simply deposit STRK within the STARFALL period to qualify. ✅
Your Potential Earnings
A total maximum of 75,000 STRK are to be distributed for STARFALL rewards with allocations determined on a per-second basis. Here’s how it works:
From 21 February 2024 07:00 UTC to 24 Feburary 06:59 UTC
- Max APY: For the periods where the cap has not been reached, everyone enjoys the additional yield of 20% APY. 📈
- Dynamic APY: For the periods where the cap is exceeded, the APY shall adjust dynamically on a pro-rata basis, ensuring fair distribution. 🔍
Payout Details
After STARFALL is completed, calculations will be finalized, and rewards will be available for viewing and claiming on 6 Mar 2024. This streamlined process ensures transparency and ease of access to your earnings.
Join STARFALL
$STRK: STARFALL is your chance to maximize your STRK holdings and be part of the STRK cosmic rush. With no need for formal signup and a transparent payout process, participating couldn’t be simpler. Don’t miss out on this once in a generation celestial event to enhance your $STRK holdings.
Frequently Asked Questions (FAQ) 🌟
How do I know what the APY is for my STRK deposit?
You can find the current APY for STRK on both the Dashboard and Markets pages on our platform. The distribution APY can reach up to 20% in the first round, but it may decrease if the payout cap for the specific period has been exceeded. This ensures fair and balanced rewards for all participants. 📊
Why are my rewards not showing up?
Rewards from STARFALL will be calculated after the campaign concludes and will be visible and claimable on the platform starting 6 Mar 2024. A separate claim window will be available then on zkLend to claim and access your rewards; however, you will not be able to see your campaign reward amount until then. This allows for accurate distribution based on your participation. Separately, if you earned a base APY on STRK, this will accrue alongside your principle as with other deposits. 📅
Will my STRK be lent out during this period?
Your STRK may be lent out once Collateral and Borrow Factors have been implemented. If that is the case, your desposits will earn the additional Base APY on top of STARFALL rewards, and you may use your STRK as collateral to borrow further. 🔒
Do I need to participate for the entire period?
No, there’s no requirement to keep your STRK deposited for the full duration of the campaign. You’re free to withdraw your STRK at any time. Your rewards will be pro-rated based on the duration of your participation and the prevailing APY at that time. ⏳
What happens to STRK after the campaign?
Before the conclusion of the STARFALL Campaign, STRK will be enabled as both a collateral and borrowing asset on zkLend. Your STRK will continue to be placed as deposit within the STRK pool and will additionally earn a yield based on the pool’s utilisation. This opens up various strategies for you, whether you wish to earn a yield passively, use it as collateral to borrow other assets, leverage your positions, go short, or explore other financial manoeuvres. 🔄
Why aren’t regular lending and borrowing activated upfront for STRK tokens?
As an ecosystem token that just begins trading on both L1 and L2, we expect uncertainties and volatility around price, network stability, and oracle availability. As such, we are enabling STRK deposit and lending in slowly in order to minimise the risk and impact to users and our protocol.
