Key Points
- The Ronin DeFi Rewards Blitz is LIVE: Earn a share of $3M token reward pool by exploring DeFi on Ronin. This campaign introduces new protocols to our movement while strengthening network liquidity.
- Introducing the Ronin Blitz DeFI Rewards Dashboard: This is where you’ll claim the rewards you earn, and also where you can find the best and latest DeFi rewards available. Check it out here!
- Boosted Reward Details: Enjoy boosted APRs across various v3 pools featuring RON, USDC, LRON, and WETH on the Katana DEX – and put idle wETH to work on Compound. Pro-tip: you can expect v3 APRs to match or beat those on v2! Full details below.
The Ronin DeFi Rewards Blitz is LIVE! Earn a share of a $3M token reward pool by exploring DeFi opportunities on Ronin. Leverage the new Ronin Blitz DeFi Rewards dashboard to discover and claim boosted rewards in our ecosystem. Here’s what’s happening:
Introducing the Ronin Blitz DeFi Rewards Dashboard
The Ronin Blitz Dashboard is where you’ll claim rewards you earn, and also where you can find the best and latest DeFi rewards available on Ronin. We’ve teamed up with Merkl—an incentive distribution platform that connects DeFi protocols with liquidity providers—to bring you an easy way to maximize your rewards. Here’s how to use your dashboard:
Getting Started
Step 1: Click on the “Connect” button to connect your Ronin Wallet
Step 2: Click “Opportunities”
Step 3: Select the opportunity you’d like to explore
Step 4: Follow the instructions to participate in boosted DeFi activities
Note: you may be linked out to a protocol’s web app during Step 4.
Earning Rewards
The amount of rewards you earn depends on the opportunity you choose and the size of your position. Rewards are calculated and claimable every 8 hours.
How to Claim Rewards
Step 1: Go to your DeFi Rewards Dashboard
Step 2: Connect the same Ronin Wallet you used in the Getting Started section
Step 3: Click “Dashboard”
Step 4: Click the “Claims” tab
Step 5: Claim any rewards available!
Don’t miss out on boosted rewards
Provide Liquidity to Katana v3 Pools
Boosted rewards are going LIVE in various Katana v3 liquidity pools involving your favorite assets: RON, WETH, USDC and LRON. Earn extra rewards depending on the assets you use and the closeness of your position to real-time market prices. In general, you can expect APRs to match and beat those on Katana v2!
Together, Merkl and Katana v3 empower users to make better decisions with their capital – and earn more rewards. Higher liquidity density in the pools also supercharges the growth of Ronin’s overall DeFi ecosystem.
Note: if you need to wrap your RON, go to the Katana DEX and swap RON with WRON – no fees required.
A greater share of the rewards may be given to users who provide liquidity for one asset over another in a given pool. More details in the Merkl Documentation.
Borrow and Lend wETH on Compound
The first Ronin wETH markets are LIVE on Compound! Put your idle wETH tokens to work, and keep an eye out for more rewards & markets to go LIVE soon.
What do APY, APR and TVL mean?
APY stands for annual percentage yield. This tells you how much a position can earn over an entire year. For example, if you lend 100 RON at 15% APY, you will have 115 RON at the end of the year.
APR stands for annual percentage rate. This tells you the cost of borrowing over an entire year. For example, if you borrowed 100 RON at 10% APR, you would end up paying back 110 RON by the end of the year. That’s because you would give back your principal of 100 RON + 10 RON in fees or interest.
Keep in mind that APY and APR can fluctuate on a daily basis, which means these numbers are more like estimates of rewards than guarantees.
TVL stands for total value locked. This tells you the dollar-denominated value of tokens contained within a given ecosystem, liquidity pool, market, or other protocols. Expect TVL to fluctuate based on the price of tokens. Here’s an example:
A RON <> USDC liquidity pool has 100K RON and 100K USDC. At the time of calculation, 1 RON = $0.8.
100K RON x $0.8 = $80K
$80K + $100K = $180K
Therefore, TVL = $180,000
Learn more about DeFi in the Ronin Wiki. Check out the new section on Liquid Staking here, and the new section on Yield Farming here.
Final Thoughts
Two weeks ago, the ecosystem team shared a vision for DeFi on Ronin. Today, the Rewards Blitz kicked off and new opportunities are here. Ronin is evolving from the #1 gaming chain into a full-fledged consumer ecosystem – all with RON at the center. Let’s keep pushing.
