Crystl Finance is a decentralized yield farm that runs on Polygon and ApeSwap Polygon Exchange, and pays out $CRYSTL, the native currency. With it, you can earn profits from your capital in a way that is fair, transparent, and secure. Built by the Crystal Crew, they have a dedicated team who is committed to growing the PolyCrystal Mine.
In this portion of the Crystl Finance Clear Education series, we’ll learn about some various pieces of DeFi “Infrastructure” like bridges, faucets, as well as learning how to revoke contracts using a dashboard.
This knowledge is important to your success, and should serve to walk you through a lot of the processes and 3rd parties you’ll be interacting with in order to get your funds over to Polygon and begin using Crystl Finance!
The $CRYSTL Token
Chain: Polygon Network
Crystl Finance currently no hard cap on the supply of CRYSTL token, however there is a soft cap of 10M tokens which is achieved with emissions reductions at particular circulating supply.
2 tokens per block if circulating supply less than 5M
1.5 tokens per block if circulating supply between 5M and 7M
1 token per block if circulating supply between 7M and 8.5M
0.5 tokens per block if circulating supply between 8.5M and 9.5M
0.25 tokens per block if circulating supply between 9.5M and 10M
0.1 tokens per block if circulating supply greater than 10M
Crystl Finance They hope you’re excited about the upcoming release of the very own Vaults on Crystl.Finance 🤩! If you have no idea what a Vault is or how it works, this article is for you! Together we’ll go over everything you need to know about Vaults, how they work, and how Crystl Finance takes its own spin on Vaults as a service
How Do Crystl Finance Vaults Work?
Now that you have a good understanding of what Vaults are, let’s build upon this concept! The above diagram represents the process implemented by Crystl Finance’s very own upcoming auto-compounding Vault services!
Note the key difference from the previous diagram. Instead of using a split of 50%/50% for LP, Crystl Finance Vaults use a split of 47.5%/47.5% to grow your LP and use the remaining 5% rewards to buy $CRYSTL💎 from the market and then burn it out of existence
How Do Vaults Benefit the platform?
As explained above, Vaults are implemented with a 5% buyback used to burn $CRYSTL tokens. This opens up a brand new avenue for Crystl Finance to support and grow the price of $CRYSTL. What’s important to keep in mind is that Crystl Finance is not limited to only creating Vaults based on native farms ! In other words, Crystl Finance can create Vaults for tokens from external platforms but still have a beneficial impact for $CRYSTL through the 5% buyback to burn structure.
This burn feature is implemented to offset the emission rate of $Crystl Finance and combat inflation, providing a solid baseline to support the positive growth for the price of the $CRYSTL token. As more and more users take advantage of the high APYs offered by vaults, it’s easy to see that this would also result in burning more and more $CRYSTL. For more information about the intricate relationship between emissions and the burning brought by the Crystl Finance Vaults,
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One of Coinworldstory's longest-tenured contributors, and now one of our news,ico,hyip editors, Verna has authored over 6900+ stories for the site. When not writing or editing, He likes to play basketball, play guitar or visit remote places. Verna, to his regret, holds a very small amount of digital currencies.