To encourage activity on PsyLend has implemented a reward mechanism. Rewards can be earned in a variety of tokens and will be in addition to the native returns that lenders receive from borrowers.
Rewards rates are set by the protocol and accrued in real time. To view or claim accrued rewards, users should visit the Rewards Center found in the PsyLend navbar.
PsyLend Navigation Bar
Rewards are shared across all lending markets proportional to the amount of assets supplied or borrowed and Reward Boost. The specific reward boost can be found in the Supply Boost column of the PsyLend homepage.
See example below for reward calculations over a 24-hour period assuming constant TVL:
Supply TVL (USD)
Reward Adjusted TVL
Share of Total Rewards
1,000,000/6,000,00 = 1/6
2,000,000/6,000,00 = 2/6
3,000,000/6,000,00 = 3/6
Users are given a 2 year period from date of rewards issuance to claim the reward tokens. All unclaimed rewards after the 2 year period will be returned back to the PsyDAO treasury.