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Starting September 21st 00:00 UTC, Savvy started incentivizing user deposits for increased rewards using its treasury-owned svTokens (svUSD, svETH, svBTC) to reduce depositors debts (liabilities), burning the svTokens in the process. Users can benefit from this lowered debt by borrowing more from their credit lines.
Savvy will periodically distribute svTokens to current depositors in specified yield Strategies and proportionally apply credit to their borrowed balance. The strategy page shows incentivized yields in the base APR. Simply deposit or maintain your funds in an incentivized yield Strategy to be eligible.
The earliest and largest participants should get a higher proportion of the incentives. The lower the total deposit amount and the longer they’ve deposited, the higher their proportional reward.
Currently gmdUSDC, gmdBTC, gmdETH and jUSDC Strategies are incentivized in the following amounts.
: Strategy APY