The DeFi protocol Asymertix has launched a bonus program for early users, under which it will distribute 10 million ASX ($3.4 million at the time of publication) from May to August 2023. This is reported in the project’s blog.
Asymetrix is a protocol for Ethereum staking with asymmetric yield: the pool does not distribute rewards proportionally to deposits, but regularly awards them to random winners.
Users of Asymetrix deposit stETH tokens into a smart contract, which accumulates rewards earned from Lido Finance.
Once a week the project selects three random winners using Chainlink VRF and awards them 50%, 30% and 20% of the accumulated stETH, respectively.
Early users automatically receive governance ASX tokens every 24 hours until the end of the bonus program. Their holders will be able to vote on changes to the protocol’s parameters.
The current yield of the bonus program stands at 30,000 ASX per day — 136% annualised yield on the stETH deposit. ASX trades on Uniswap at a price of $0.34.
The developers launched Asymetrix on the Ethereum mainnet on April 22, 2023, shortly after completing Hacken audit. As of publication, 104 users had deposited 1,460 stETH into the protocol, and the winners of the first two rounds shared 1.07 stETH.
In March, a solo miner mined a block of Bitcoin and received 6.5 BTC — $153,000 at the time.