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FIRST OF ITS KIND: APR Resets
As explained in our introduction, we are implementing our FIRST-OF-ITS-KIND feature, which is Swift Finance's "APR Reset" feature.
NOTE: Only our non-native farms and pools will have the "APR Reset" feature.
We have explained this in our Introduction page here but for your convenience, we will also include it here πŸ˜„

Here's How It Works!

Swift Finance will only have up to THREE "native" farms and THREE "non-native" farms at any given time (for now).
At this moment, we will have the following "native" farms which will be our mainstays which are:
  • SWIFT - ETH - 5x multiplier
  • SWIFT - USDC - 5x multiplier
  • SWIFT - 2x multiplier
Here comes the cool part about our yield farm!
For our non-native "farms", we will give our community the chance to vote on which coins they'd want to farm with.
These "farms" will only be available for up to ONE WEEK.
After that, investors in the yield farm will then vote on the next set of farms to replace the current set.
For our first batch of "non-native" farms, we will have the following:
  • USDC - 1x multiplier
  • METIS - 1x multiplier
  • WETH - 1x multiplier
  • BTC - 1x multiplier
We are aiming for a reward ratio of 70:30 between Native Farms : non-Native Farms.

Quick Example For Our Non-Native "Farms" APR RESET Feature

Let's say on Day 1, we have a $ETH pool.
Because it is a brand new farm with 0 deposits, the APR would normally reach up to 200,000%.
After a few days, as more people deposit into the farm, the APR would slowly decrease to around 200-300% APR.
This isn't too bad for your everyday yield farmer.
This $ETH "farm" would remain active until the SEVENTH DAY, where it will no longer receive any rewards and will be replaced with a brand new "farm" and token ...
... which the yield farmers will have voted for!
Let's say the $ETH farm is replaced with a brand new $PNG farm.
This brand new $PNG farm will also have the brand new 200,000% APR and will farm for the next SEVEN DAYS until it is replaced with yet another brand new "farm".
This cycle will continue to repeat.
Does this means the $ETH Farm, will never accrue rewards again? No, the $ETH farm can continue to accrue rewards in a later cycle, or in fact, they can be voted in to be in the next immediate cycle as well, depending on the popularity.
But do note that even if the $ETH farm gets carried over to the next immediate cycle, you will need to stake $ETH again. Read the section below to understand more.
Extra technical notes:
Each time before a new farm is released, the devs will do a forced withdrawal, which you can look at below.
This ensures that no one can "game" the system by letting their assets remain until the next farm cycle where the rewards will continue to accrue.
So be sure to wait for our announcement that this is completed before you stake into the farms!

How exactly does this make our yield farm sustainable?

It's simple, really.
Most yield farms die because their native token does not possess any demand and people are constantly selling, which pushes APR of their pools down.
Eventually, since there are no new deposits because the APR is not high enough to attract new investors, the devs will not be able to continue development or buy back tokens as there are no more deposit fees being collected.
Swift Finance solves that completely as the pools will go on rotation and there will constantly be new deposit fees being collected.
This allows continuous fee-sharing in our pools where SWIFT holders can stake and earn a part of our fees.
This ensures there will be a constant demand for SWIFT and ensuring a stable token value with high APR's every SEVEN days.
$SWIFT will have a capped maximum supply.
Check out our Tokenomics to understand our sustainability plan.
With our low emission rate, this ensures that in the short term, we will not be overwhelmed with inflation.

How Do We Choose The Next Farms?

Good question.
In line with the mission of decentralization that we support fully, we will hand this major decision-making powers to YOU!
The Swift Finance team will not have a say in the next batch of pools that will be up.
Instead, we will be implementing governance within Swift Finance --- meaning you and other investors decide which pools will replace the current batch.
Basically, you choose the coins you want to yield farm in.
Here's a quick example why this benefits you greatly:
For example, if $ETH is growing quickly during the past few days, it would be in your best interest to vote for the inclusion of a $ETH "farm".
Not only will the $ETH tokens you stake potentially increase in price (giving your profits), you also get our $SWIFT tokens as reward.
Sounds like a double win right there!
So instead of being limited to a few tokens you don't like or obviously aren't doing well, you have all the freedom in the world to choose the tokens that you think will benefit you the most.

What Happens When Maximum Supply Has Been Reached?

When maximum supply has been reached, the yield farms would immediately be discontinued as there will be no new rewards that can be minted.
What happens next?
Once the yield farm is discontinued, there will be a brand new set of contracts that will be deployed following the "active rotation" concept which will continue to send out $SWIFT rewards. These $SWIFT rewards will come from the continuous buybacks collected from all the deposit fees over the duration that the yield farm has been active previously.
Any new deposit fees collected from then on will also be used to buy back the token and be used as rewards for future pools.