About Ragnar Protocol Airdrop
Ragnar Protocol Airdrop is a protocol offering its users booster returns on Yeti Finance pools and all the benefits without having to own $YETI. Ragnar is able to do this by allowing YETI holders to convert it into rgnYETI, which allows Ragnar to accumulate veYETI. By doing this we give the YETI a new purpose, users converting their YETI to rgnYETI will acces to a portion of the platform’s revenue and a new token.
Ragnar Protocol will be airdropping free RGN to users who complete testnet actions. Complete the testnet actions and give feedback to their Discord channel to be eligible for free RGN.
What is Ragnar Finance?
Ragnar Finance is a protocol offering its users booster returns on Yeti Finance pools and all the benefits without having to own $YETI.
Ragnar is able to do this by allowing YETI holders to convert it into rgnYETI, which allows Ragnar to accumulate veYETI. By doing this they give the YETI a new purpose, users converting their YETI to rgnYETI will acces to a portion of the platform’s revenue and a new token.
What is Yeti Finance?
Yeti Finance is a cross-margin lending protocol on Avalanche that allows users to borrow up to 21x against their portfolio of LP tokens, staked assets such as sJOE and sAVAX, and yield-bearing stablecoins in a single debt position for 0% interest.
Utility of the protocol
Protocols such as Yeti, Traderjoe or Platypus are the precursors of a new era on Avalanche, their arrival contributes to the strength and autonomy of the network. Each of them has adopted a similar and very well known model, the veToken, allowing to obtain advantages and a right of governance.
However, a problem persists, in order for the community to have access to all the advantages of the platform, it is necessary to hold and stake a part of its treasury in order to have access to all the advantages of the platform, this is where we come in (Vector, Echidna, Convex, Ragnar…)
Following the example of colleagues Vector or Convex, they are going to offer to all users the possibility to use Yeti Finance and all the advantages that veToken brings without holding any. At first they will have our own reserve of YETI in order to generate veYETI but we will also allow the community to deposit YETI so that we can accumulate them and offer all the advantages with the best returns.
Converting and staking YETI
The first and most important feature will be the conversion and staking of your YETI.
At first a conversion of your YETI into rgnYETI will be necessary with a ratio of 1:1.
After that your rngYETI will appear on your wallet and you will be able to stake them.
Your rgnYETI will generate double rewards in RGN and YETI or Collateral which will come from the platform’s performance fees more details here.
Staking, Lock & NFT
To stake your RGN, we have set up a unique system on Avalanche.
This system allows you to stay in control of your assets, to transfer or sell them even if they are locked.
To get access to staking solution, you will first have to lock your tokens for a determined period of time, then choose your number of tokens and finally you will receive an NFT representing your staking position.
Your APR and benefits will vary depending on the staking time.
Your governance power depends on the blocking time and the number of tokens. More details here.
The different blocking times & the limit of tokens per pool:
- 1 month – 0.2 bRGN for 1 RGN – 30% of the circulating supply
- 3 months – 0.4 bRGN for 1 RGN – 30% of the circulating supply
- 6 months- 0.6 bRGN for 1 RGN – 20% of the circulating supply
- 12 months- 0.8 bRGN for 1 RGN – 10% of the circulating supply
- 18 months- 1 for bRGN 1 RGN – 10% of the circulating supply