Snowball Finance automatically compounds PNG rewards for you multiple times per day, saving on gas and generating higher APY.
How does auto compounding work in Snowball?
Deposit your liquidity provider (LP) tokens into the SnowGlobe with the same token as you. After depositing you will receive S tokens, equivalent to the token pair you deposited. The rewards you receive as a LP are reinvested into the token you deposited. Snowball takes a 10% fee of the rewards you receive as a LP. Compounding happens multiple times per day, depending on the pool size. Snob tokens received from depositing your S tokens into IceQueen are not compounded.
What does Ice Queen do?
You can send the sPGL tokens that you got from the Snowglobe to the Ice Queen. In return you will get our governance token; “snob”.
Compound steps: Claim > Swap > Add Liquidity > Deposit Gas cost of one manual compound: 0.49652 AVAX Compounds per day/week/year: 6/42/2190 Gas saved per day/week/year: 2.98/20.85/1087.38 AVAX
What are Snowball (SNOB) tokens?
The snowballs (snob) are our governance tokens. We are currently working on a governance architecture so that you will be able to have a say in the direction that Snowball will take.
How do I earn Snowball (SNOB) tokens?
Earn Snowball tokens by either depositing sPGL tokens or SNOB-AVAX LP tokens into the IceQueen contract
What are the tokenomics?
Max supply: 18 million
Distribution schedule: 1st 200k blocks - 5 Million Snowballs 2nd 200k blocks - 4 Million Snowballs 3rd 200k blocks - 3 Million Snowballs Next 2M blocks - 1 Million Snowballs Next 4M blocks - 1 Million Snowballs Next 6M blocks - 1 Million Snowballs
Snowball is a fork of pickle.finance which is audited. Snowball is currently not audited and the plan is to do an audit of the contracts. You can make your own judgement whether you trust the contracts by having a look on Github.