DeFi
Summer.fi Launches RAYS Points to Reward User Engagement
June 20, 2024 – London, United Kingdom
Summer.fithe decentralized finance platform, announced on launch of RAYSa new points system designed to incentivize and reward users who interact with its application and supported protocols.
The rewards program is designed in three key phases described below.
Retroactive participation
On June 18, 2024, a snapshot was taken to recognize past and present Summer.fi users – as well as those currently using various protocols and services available across the DeFi ecosystem and those with an active wallet .
More than two million user addresses will receive RAYS based on their activity levels.
Claiming retroactive points
From June 20 to September 17, users who were assigned RAYS from the Retroactive Snapshot will have three months to claim their RAYS.
Users who use, or have used Summer.fi in the past, automatically claim their RAYS – but non-Summer.fi users will need to open a position on Summer.fi for at least 14 days in order to claim their RAYS.
Accumulating RAYS
Starting June 18, active Summer.fi users began accumulating points based on their use of the platform and the size of their positions.
RAYS will be live and accrue over a period of three years, until June 17, 2027, for all active positions and can be amplified by performing additional activities such as adding automations, migrating positions from other frontends or token exchange using “multiply” and “yield loop” features.
Users can earn more RAYS by performing various additional activities, such as having longer open positions.
The RAYS program is part of Summer.fi’s ongoing efforts to improve user experience and drive adoption of its cutting-edge DeFi solutions.
By encouraging engagement and rewarding loyal users, Summer.fi aims to further solidify its position as one of the leading platforms in DeFi.
About Summer.fi
Summer.fi is a platform for DeFi.
It can be used to borrow stablecoins against users’ favorite cryptocurrencies, increase exposure to them using “multiply” or “earn” a competitive return.
This can be done across multiple protocols and layers, all in one place.
Summer.fi’s mission is to provide the most reliable entry point for deploying capital into DeFi.
The team is made up of passionate thinkers and builders, committed to creating a better user experience for all of DeFi while putting assets to work.
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