06/27/2022 — The highly-anticipated DOT Fest Grand Finale is here and to celebrate this extravaganza we are dishing out 3M ASTR Bonus Rewards to participants! Bridge your DOT to Astar; put your assets to work on AstridDAO, ArthSwap or Starlay; and let the remarkable rewards roll in–ASTR token and more!
DOT Festival has beaten our wildest expectations, successfully locking nearly $10M of DOT on Astar Network! Now is the last chance to join this campaign. Event 3 will include ArthSwap and AstridDAO, plus Starlay–the largest lending platform on Astar–which has over $32M in assets and provides a stable yield on deposited DOT.
The Grand Finale is a simple spectacle for Astar gazers to join! Just participate in any project below to receive ASTR Bonus Rewards. Or, you can participate in all three to get a bigger piece of the pie!
Starlay:
- Go to Starlay app
- Select DOT asset under Deposit Markets
- Enter an amount to deposit and confirm
- You can now borrow under Borrow Markets
- Optional: Choose the Makai tab to try out Starlay’s Makai function–a special feature that compounds rewards by repeating the deposit and borrowing functions.
- Get your AstarPass ← This is Important to Receive ASTR rewards! (You will not be eligible for ASTR rewards if you have not registered for AstarPass before the end of Event 3!
AstridDAO and ArthSwap (Same as Event 2):
- AstridDAO: Deposit your DOT in a Vault and mint BAI!
- ArthSwap: Choose a qualifying pool that works for you–DOT/WASTR or DOT/USDC!
For a bit more info, we have a detailed guide for Event 3: https://docs.astar.network/dot-festival/participating-in-dot-festival/dot-fest-event-3
That’s right: the Grand Finale is easy to join but has many ways for you to create a personal defi strategy–building a portfolio that works for you and maximizes your bonus rewards!
Details of Event 3
Dates: 6/27 13:00 UTC — 7/6 13:00 UTC
Projects:
Starlay: 1,500,000 ASTR for depositing DOT + LAY
AstridDAO: 1,000,000 ASTR for depositing DOT in Vault + Option to mint BAI at 0% interest
ArthSwap: 500,000 ASTR rewards for staking + ARSW
So, how will 3M ASTR be distributed? Your rewards are proportional to Your Score against the Total Score of Event 3 participants (i.e. Your Score is part of the Total Score). This means the more you bring to Starlay, AstridDAO and ArthSwap, the higher your score for bonus rewards, and starting early earns you more.
Your score is defined as:
Starlay Score = Amount of DOT deposited x Number of blocks created while depositing
ArthSwap/AstridDAO Score = Amount of DOT deposited × Number of blocks created while staking/depositing
Your reward is calculated as:
Your Reward = ((Your Starlay Score/Total Starlay Score) x 1 500 000 ASTR + (Your ArthSwap Score/Total ArthSwap Score) x 500 000 ASTR + (Your AstridDAO Score/Total AstridDAO Score) x 1 000 000 ASTR)
TLDR: Starting June 27 bring your DOT to Starlay, AstridDAO, and ArthSwap to maximize your rewards.
Note that all ASTR rewards earned during the three events will be vested for 3 months — only claimable after DOT Fest ends. This is to avoid sudden selling pressure that will hurt our community. To make claiming rewards easy, Astar token rewards for all events will be distributed at the same time after DOT Festival.
This material is not investment or financial advice. Using decentralized peer-to-peer protocols carries risks, including, but not limited to, smart contract risks, liquidations, and impermanent loss. We encourage you to do your own research and meet with an investment advisor before making any investments.
About Astar
Astar Network is the Smart Contract Hub for WASM + EVM built on Polkadot and is one of the top Parachains in the Polkadot ecosystem in Total Value Locked and most Ethereum assets transferred over. Astar Network is the leading smart contract hub that connects the Polkadot ecosystem to Ethereum, Cosmos, and all major Layer 1 Blockchains. Astar Network supports dApps using multiple virtual machines — namely WASM and EVM — and offers the best technology solutions and financial incentives via its Build2Earn and Astar Incubation Program for Web3 developers to build on top of a secure, scalable, and interoperable blockchain.
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DOT Festival Event #3: The Grand Finale! was originally published in Astar Network on Medium, where people are continuing the conversation by highlighting and responding to this story.
