What Is a Launchpool on AscendEX?
Launchpool is a new yield farming project launched on AscendEX that allows users to earn token rewards on the platform by depositing their digital assets with one click.
Function and Features of AscendEX’s Launchpool
1. A Brief Overview of AscendEX’s Launchpool
AscendEX’s Launchpool carefully selects and lists premier projects allowing users to earn projects tokens by staking their assets on the platform. The total farming amount, farming period, ROR and other factors differ depending on the specific launchpool project. Please navigate to AscendEX’s Launchpool interface to view more details before engaging in a Launchpool project. With just one click, users can earn token rewards by depositing specific tokens.
2. Reward Calculation & Distribution
The rewards distribution of a Launchpool project is divided into two periods: the early-bird period and the farming period.
(1) The early-bird period takes place during the first 6 hours after a Launchpool project is launched (The farming period starts at T, so the early-bird period is between T and T+6 hours.)
1） Rewards calculation during the early-bird period:
- A user’s total farming rewards for the early-bird period = (the user’s farming weight during the period/all users’ farming weight during the period) * the total rewards of all users during the 6-hour early-bird period
- The farming returns a user receives during the early-bird period = (The amount of the first deposit * the deposit length + the amount of the second deposit * the deposit length + the amount of the third deposit * the deposit length, and so on). For example, if you make two deposits of 100,000 USDT and 200,000 USDT within the 6-hour early-bird period, then your farming amount from the period will be calculated as follows: 100,000 USDT * the deposit length + 200,000 USDT * the deposit length.
- If a user redeems their assets during the early-bird period, the system will first redeem the assets deposited earlier to calculate the user’s actual deposit amount and their farming factor.
The calculation of redeeming the the assets deposited earlier first goes as follows: If you make three deposits of 1 million USDT, 500,000 USDT and 800,000 USDT during the early-bird period, then you make two withdrawals of 500,000 USDT and 800,000 USDT, the system will automatically process your withdrawal requests by deducting your first two deposits (of 1 million USDT and 500,000 USDT) you made earlier according to the algorithm, which means 1 million USDT you deposited first will be fully redeemed and your second deposit of 500,000 USDT will be partially redeemed as 300,000 USDT. As a result, your actual deposit amount and farming factor will be: 200,000 USDT * the deposit length + 800,000 USDT * the deposit length
- Deposit length is calculated by the hour and is rounded up to the nearest whole number. For instance, if a user deposit for 4 hours 35 minutes, then the user’s deposit length is 4 hours. However, there are two special situations: if the user deposits five minutes before the start of the event, the user’s deposit length will be 6 hours; if the user deposits within one hour before the conclusion of the early-bird period, the user’s deposit length will be one hour.
2）Reward distribution during the early-bird period:
- The farming rewards for the early-bird period will be fully distributed after the end of the period at one time. The system will calculate users’ farming rewards for the period based on a snapshot of users’ deposits and their lengths that is taken in the 6th hour of the period (T+6 hours).
- Please note, users will receive no rewards if they withdraw all their deposits before the conclusion of the early-bird period.
(2) The farming period runs from the end of the early-bird period to the conclusion of the farming project.
1) Reward calculation during the farming period:
- The rewards a user earns per hour = (the total deposit amount of the user / the total deposit amount of all users) * the total farming rewards per hour
- The system takes a random snapshot every hour, based on which users’ deposit amount and farming rewards will be calculated. The assets that have not been deposited when a snapshot is taken or the part of assets that have been redeemed before the snapshot is taken will not be included in the calculation of the farming rewards for the hour.
The assets that have not been deposited when a snapshot is taken refer to the part of assets that failed to be included in the calculation of farming rewards as the time users deposited do not fall into the time range set for a snapshot.
For example: For example, assume that you deposit USDT at 2:31 p.m. to start farming,
You will be deemed having no deposit if the snapshot is taken between 2:00 p.m. and 2:30 p.m., which means you will not receive the farming rewards for the period between 2:00 p.m. and 3:00 p.m.
If the snapshot is taken between 2:30 p.m. and 3:00 p.m., which means you will receive the farming rewards for the period.
Therefore, please withdraw your deposits carefully to make sure you will receive your farming rewards.
2) Reward distribution during the farming period:
During the period, users receive their new token rewards every hour that they earned one hour before.
(3) Formula for calculating the APR
Est. APR = (the amount of α released one hour before * α price/the total β deposit amount of the previous hour *β price) *24*365*100%
*α is the new token farmed from a Launchpool project; β is the deposit token.
The APR displayed on the “Launchpool” page after the conclusion of the farming project is calculated based on the number of new tokens released in the last farming hour and the average price of the new token.
3. Claim of Rewards
The new tokens earned by users will be first displayed on the AscendEX’s Launchpool page and users need to claim them manually before they are credited to their cash accounts. If the reward token has been listed on the platform, their rewards can be used for trading anytime. Please keep a close look at the farming progress. If users do not manually claim their rewards during the farming period, the rewards will be automatically credited to their cash accounts after the conclusion of the farming project.
4. Deposits and Withdrawals of Assets
After a farming project starts, a user can deposit anytime to start earning new tokens immediately. Their deposit can also be withdrawn anytime, which will be instantly credited into the user’ account without a lockup period. No fees are charged for any deposit and withdrawal. The deposit will also automatically be refunded to the user’s cash account after the conclusion of the farming project if the user does not want to withdraw it manually.
5. Participation Conditions
Users must have a verified AscendEX account to be eligible to participate in AscendEX’s Launchpool projects. Sub-accounts cannot participate as an independent account.
6. A pause to Farming
If a farming project has to be paused over some special reasons, the system will automatically refund users’ deposits and unclaimed rewards to their cash accounts.
How to Participate?
Before participating in a Launchpool project, please navigate to AscendEX’s homepage, click on “Finance” – “Launchpool” to enter the Launchpool interface to view the project list and check the project details. (Please note, the following steps are for PC clients.)
1. Make a deposit
Select a target asset from the project list and click on “My Deposits” to enter the detail page of the Launchpool project. Click on “Deposit” at the bottom of the page to complete the deposit.
2. Check rewards
Check the current farming rewards on the detail page of the selected asset.
3. Claim of rewards
Claim farming rewards manually on the detail page of the selected asset or the homepage of AscendEX’s Launchpool.
4. Withdrawal of assets
Click on “My Deposits” at the bottom of the detail page of the selected asset to complete the withdrawal.
5. Trade with reward tokens
If the reward token has been listed, click on “Trade” under “My Rewards” at the bottom of the detail page of the selected asset to start trading.
Advantages of AscendEX’s Launchpool
1. High returns + Low risks: AscendEX’s Launchpool carefully selects highly potential and premier projects to ensure a high ROR. Users allow to earn new token rewards by just depositing their assets, without need to worry about risks. The earlier you deposit, the higher chance of earning high yields.
2. Easy operations and lower barrier to entry: Different from the liquidity mining of the traditional decentralized projects, it’s no need for users to provide liquidity for the liquidity pool. Unlike the on-chain staking required by normal staking projects, users do not worry about the complicated on-chain operations. With a verified AscendEX account, users can participate in Launchpool projects. With a low barrier to entry and easy operations, users allow to earn rewards by just depositing their assets.
3. High liquidity and flexible utility of assets: AscendEX’s Launchpool supports one-click deposits and withdrawals, without charging any fees. If the reward token is listed, users can utilize the rewards they earned to trade, improving the liquidity and utility of their assets.