Early Christmas? Flurry Finance Announces Unique Staking Bonus
Though many DeFi programs offer additional incentives for token holders and staking efforts after the token is listed, Flurry Finance (FLURRY) may have developed a program whose name is the most creatively fitting: Snowball Reward.
The program itself is simple. From 06 September to 30 November 2021, FLURRY holders can stake tokens and take a proportional piece of the 1,140,000 tokens awarded weekly to the pool of stakers.
The reward is counted per block and accumulated over time according to the proportion of a user’s staked FLURRY compared to the entire staking pool. Once the program ends, users can claim their rewarded FLURRY, and though unstaking is available any time, it will stop the Snowball rewarded FLURRY. One disadvantage to the program is that when staking, users will need to pay for gas, meaning the rewards program isn’t completely free.
The metaphor of a rolling snowball accumulating an increasing amount of snow isn’t a coincidence. The team at Flurry looked for the perfect name that could best describe their product’s core value—automatic accumulating yield. They chose “Flurry” because the flurrying of snow accumulates and it snowballs like an investment. As the Snowball Reward program offers 1.1M tokens weekly during its run, it’s like the snowball will pick up a lot of speed from September to November, growing considerably the more users stake their FLURRY.
Twitter followers began responding immediately after the initial announcement of the program. @aY_popson stated that “it is nice to see Snowballs will be accumulated according to the proportion of staked FLURRY tokens.” Other users were appreciative of the detailed staking instructions but wanted to know the maximum amount they would be able to stake. This indicates that, at least for some FLURRY token holders, this is a program worth going all in so they can watch their rewards snowball grow all the way to November.
The Flurry Protocol
FLURRY is a DeFi protocol that focuses on creating automated yield aggregation for users holding the project’s rhoToken, which is pegged 1:1 to its underlying stablecoin: USDT, USDC, or BUSD. After users mint their rhoTokens, they set up automated and cross-chain yield farming, which maximizes yield while considering transaction costs and gas fees. Because the rhoToken is pegged 1:1, it is rebased so that users can easily see the amount of yield accumulated. A unique feature of the protocol is that users do not need to lock their tokens in order to participate in the automated yield farming.
The Flurry protocol is listed across chains on Uniswap, PancakeSwap, and Gate.io, and was created by a team of Cornell, Stanford, and Imperial College London alumni. Its executive team includes members with experience at JP Morgan, Barclays Capital, KBC Financial Products, Daiwa Capital Markets, and Societe Generale.