DeFi
Summer.fi Launches $RAYS Points to Reward User Engagement
London, UK, June 20, 2024, Chainwire
Summer.fithe decentralized finance platform, announced on launch of $RAYSa new points system designed to incentivize and reward users who interact with its application and supported protocols.
The rewards program is designed in three key phases described below:
1: Retroactive participation
On June 18, 2024, a snapshot was taken to recognize past and present Summer.fi users, as well as those currently using various protocols and services available across the DeFi ecosystem and those with an active wallet . More than 2 million user addresses will receive $RAYS based on their activity level.
2: Retroactive points claim
From June 20 to September 17, 2024, users with $RAYS awarded from the Retroactive Snapshot will have 3 months to claim their $RAYS. Users who use, or have used Summer.fi in the past, automatically claim their $RAYS, but non-Summer.fi users will need to open a position on Summer.fi for at least 14 days in order to claim their $RAYS. .
3: Accumulation of $RAYS
Starting June 18, active Summer.fi users began accumulating points based on their use of the platform and the size of their positions. $RAYS will be live and accrue over a period of 3 years, until June 17, 2027 for all active positions, and can be amplified by performing additional activities such as adding automations, migrating positions from other frontends or swapping tokens using the Multiply and Yield Loop features. . Users can earn more $RAYS by performing various additional activities, such as having longer open positions.
The $RAYS program is part of Summer.fi’s ongoing efforts to improve user experience and drive adoption of its cutting-edge DeFi solutions. By encouraging engagement and rewarding loyal users, Summer.fi aims to further solidify its position as one of the leading platforms in DeFi.
About Summer.fi
Summer.fi is a decentralized finance platform. It can be used to borrow stablecoins against users’ favorite cryptocurrencies, increase exposure to them using Multiply, or earn a competitive yield. This can be done across multiple protocols and layers, all in one place. Summer.fi’s mission is to provide the most reliable entry point for deploying capital into DeFi. The team is made up of passionate thinkers and builders, committed to creating a better user experience for all of DeFi while putting assets to work.
Contact
The Summer.fi team
presse@summer.fi