SOV is diving into lending pools

12 Jul 2021

A new kind of loot drop is here, SOV is diving into the lending pools! We’re pleased to announce the lending page interface has been upgraded with new charts and interactions, ready for a whole new kind of loot drop. Lenders can now earn SOV by supplying assets to the Sovryn lending pools, beginning with XUSD.

Starting from 12 July (now!) a total of 15k SOV per week will be dropped to XUSD lenders until Monday 19 July. The rate will then either roll over, be recalibrated, or be removed alongside the weekly AMM yield-farming pool recalibrations every Monday. XUSD lenders will continuously accumulate SOV, proportionate to their share of the lending pool. Funds can of course be withdrawn at any time and, as usual, the Reward SOV will have a linear vesting period of 10 months. Don’t forget that rUSDT can be converted to XUSD at a 1:1 conversion rate from the Portfolio page. There is a guide to performing this conversion on the wiki here.

If you already have XUSD in the lending pool, you must withdraw and re-supply this XUSD to be eligible for the SOV drops.

The lending Yield & APY percentages are extrapolations of the variable return rate at a given time. These rates can reduce or increase somewhat as funds are added and withdrawn from the pool. See the APY for yourself on the new charts here!

For more information regarding SOV loot drops on lending pools, visit the wiki here.
Want to find out how to lend to the pools? Use the step-by-step guide on the wiki here.

#StaySovryn