Hercules & Alchemix Kicking Off Hottest Rewards Event on Metis

With September finally over, many in the crypto space have been anticipating a bullish turnaround during quarter four of this year. Many have even gone on to say the bulls have already begun to arrive due to the recent narrative shift from last week. Despite what the real state of the market may be, one thing is for sure: Hercules is actively hosting one of the biggest liquidity events on Metis this month!

The Hercules x Alchemix Ignition Campaign is Here

On September 26th, Hercules and Alchemix announced one of the most exciting LP events on Metis L2 this month. Running until October 10th, users will be able to earn exclusive bonus rewards by completing daily quests and providing liquidity on select Alchemix pairs. What’s more exciting? Users can make up to $50 with a minimum of $15 in LP with the completion of daily quests! If that’s not a crypto hack then we don’t know what is!

How to Start Your Hercules x Alchemix Campaign Journey

Starting the Hercules x Alchemix Ignition Campaign is as easy as 1 2 3! Simply head over to the Hercules dApp website and locate the quest widget at the bottom right-hand corner, then click.

Once the widget is opened, you will be prompted with several small quests. These quests consist of simple tasks that range from following socials to swapping, providing LP, and interacting with a nitro pool.

Below we’ve attached a quest sheet for your convenience!

Reward Details

The ignition campaign event consists of a $1,000 reward pool via a yield-earning LP position from the alETH-alUSD pool Steer Vault. This Yield-Earning LP position is a staked position NFT (spNFT) that is farming both TORCH and xTORCH.

Users can stake their spNFT into Alchemix’s alETH-alUSD nitro pool. The Yield-Earning LP is given with a locker of 15 days, allowing the user to earn an APR from both the farming and nitro pool. At the end of the locking period, the user can unlock the position and claim the extra rewards (TORCH and xTORCH).

Reward Potential

Why is this ignition campaign the best event happening on Metis L2 right now? It’s the juicy rewards of course! Assuming an ALCX price of $15 (all prices and rates are subject to change), we can get a rough estimate of some possible reward scenarios.

• alUSD-USDC: 335.13%
• alUSD-alETH: 447.41%
• alETH-ETH: 445.88%

With a test case scenario of $1,000, users could net an easy return in just 15 days! At current rates, these figures translate to:

alUSD-USDC (Alchemix) — 335.13% -> $129.144

alUSD-alETH (Alchemix) — 447.41% -> $169.143

alETH-ETH (Alchemix) — 445.88% -> $168.607

Given that these results come with just fifteen days of LPing, we can confidently say this is the best DeFi yield event happening on Metis!

Conclusion

The Hercules x Alchemix ignition campaign is just one of many future campaigns that have been created to supercharge liquidity for protocols and to offer lucrative reward opportunities for users. As the markets begin to heat up into quarter four, you can expect many more bullish liquidity events from Hercules and Metis partners!