🌸DeFi Spring

Let your assets blossom

Welcome to DeFi Spring. zkLend is proud to be one of the core protocols on Starknet to participate in this program and distribute STRK token rewards to eligible participants.

Here are the details of DeFi Spring

• Duration: The program for zkLend begins on March 14, 2024, at 00:00 UTC and is expected to last for 6-8 months.

• Eligibility: Anyone can participate in the program. The approximate reward APR will be displayed adjacent to eligible supply and/or borrow pools to inform users of the approximate $STRK rewards APR % in addition to the base rate.

• Claiming Incentives: Rewards earned will be claimable in phases. The average phase lasts for 2 weeks and takes an average of 2 days from the end of the phase before claims go live.

  • Phase 1: Mar 14 2024 - Mar 27 2024

  • Phase 2: Mar 28 2024 - Apr 3 2024

  • Phase 3: Apr 4 2024 - Apr 18 2024

  • Phase 4: Apr 19 - May 1 2024

• Accrued Rewards: The tally of rewards will be unveiled only at the campaign’s conclusion. Claiming is done through: https://app.zklend.com/rewards

Rules and Considerations:

• Dynamic APRs: The APRs displayed is based on the APR derived from non-recursive supply from the previous day and subject to frequent adjustments throughout the campaign, reflecting the evolving nature of the market, the allocation from the Starknet Foundation, and our pool sizes.

• Incentive Strategy: Our protocol may variably reward different actions, such as deposits and/or borrows, to adapt to market dynamics.

• Recursive Borrows Adjustment: Given rewards are calculated off chain, we will take into account a user’s net deposit after removing recursive borrows, ensuring fairness. For instance, if Bob deposits 100 USDC and borrows 50 USDC, his net deposit is considered 50 USDC. This calculation is specific to the same asset type, aiming to balance the rewards mechanism. Recursive borrowers will see a higher APR than their ultimate claim. As of Phase 3, all stables (USDC, USDT, and DAI) will be considered the same asset for purposes of calculating a user's eligible net deposit. This means that a user's NRS for stables would = Value of stables deposit - value of stables borrowed.

• Claim Period: Users will have until the end of the DeFi Spring program to claim their rewards should they wish to accrue rewards week after week to claim all at once. Unclaimed rewards at the end of the program will be returned back to the Starknet Foundation.