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Deposit Incentives

What are the Deposit Incentives?
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.
How does it work?
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.
How much can Savvy users make through the Deposit Incentives?
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. 
Which Strategies are included in the Deposit Incentives?
Currently gmdUSDC, gmdBTC, gmdETH and jUSDC Strategies are incentivized in the following amounts.
Strategy
Weekly Deposit Incentive
jUSDC
200 svUSD
gmdUSDC
200 svUSD
gmdETH
0.1 svETH
gmdBTC
0.02 svBTC
How are incentives calculated?
​AStrategyA_{Strategy}AStrategy​
: Strategy APY
​ABoostA_{Boost}ABoost​
: Boost APY​
​ADeposit=(1+weekly incentivetotal deposits)52−1A_{Deposit} = (1+\frac{weekly\:incentive}{total\: deposits})^{52 }-1ADeposit​=(1+totaldepositsweeklyincentive​)52−1
​
​ATotal=(AStrategy∗0.9)+ADeposit+ABoostA_{Total} = (A_{Strategy}*0.9)+A_{Deposit} + A_{Boost}ATotal​=(AStrategy​∗0.9)+ADeposit​+ABoost​
​

Strategy	Weekly Deposit Incentive
jUSDC	200 svUSD
gmdUSDC	200 svUSD
gmdETH	0.1 svETH
gmdBTC	0.02 svBTC

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Last modified 2mo ago