Today is the “Auto OLIVE” day in Binance Smart Chain and Avalanche chain!
Auto-compounding means that instead of manually re-staking your OLIVE every so often to get the best APY, it will be done for you!
What’s the difference between the “Manual OLIVE” and the “Auto OLIVE”?
With both pools, you can simply stake your OLIVE tokens to earn more OLIVE tokens.
But there are some differences:
- You need to harvest or reinvest (compound) your OLIVE by yourself. That requires returning to the website, clicking buttons, and spending a bit of BNB for transaction fees.
- Interest is displayed as APR, which doesn’t include compounding.
- You can unstake at any time. No withdrawal fee.
- Stake your OLIVE and forget about it! The OLIVE you stake in this Electrum Pool will be automatically reinvested (compounded) for you, deducting a small fee.
- Set and forget. Put your feet up while watching your OLIVE stack grow!
- The “automatic” compounding function is triggered by other users who get Auto OLIVE Bounty for triggering it.
- Interest is displayed as APY, which includes compounding.
- 5% performance fee is subtracted from your earnings each time the pool is automatically compounded.
- An unstaking fee applies when you unstake within 3 days of manually staking.
Auto OLIVE Bounty
0.25% of all Auto OLIVE pool users’ pending yield. This bounty will be given as a reward for providing a service to other users.
5% of each yield harvest, which is subtracted automatically from your profit. For example, if the harvest was 1 OLIVE, then 0.05 OLIVE would be subtracted as the performance fee. All fees will be collected on a special Smart Contract and burned 🔥🔥🔥
3% if you unstake (withdraw) within 36 hours. After 36 hours, you can withdraw with no fee. The unstaking fee timer resets back to 36 hours every time you stake more OLIVE.
What happens to the OLIVE collected from the fees?
The OLIVE collected from the unstaking fee and performance fee is burned every week regularly to help reduce inflation.
How is the Auto OLIVE APY calculated?
The initial APY has been set assuming the pool being compounded once per 5 minutes.
The calculation will be adjusted to provide a more accurate rate when there is some real usage data for us to go on.
A series of user interface updates went online along with this update. Now it is much faster and easier to use. For example, Farm list can be represented in a table view https://olive.cash/farms or https://avax.olive.cash/farms
Old v1 site is available https://old-bsc.olive.cash