StellaSwap Launches Gas Refunds on Moonbeam & Polkadot, Allowing Free Txns by Staking xSTELLA! 🚀
The StellaSwap team is ecstatic to announce the launch of our gas refund program for xSTELLA holders! This is the first such program on Moonbeam and the wider Polkadot network. This novel facility will seek to complement Moonbeam’s “Harvest Moon” program for the next couple of months.
Although we’re formally launching the facility on July 7, 16:00PM UTC, we have already began tracking the gas refunds of eligible xSTELLA holders since July 5, 16:00PM UTC! This means that those who has already held xSTELLA would have already accrued gas refunds on their accounts 🔥
Gas Refunds: What is it & Who’s Eligible?
We love our community. And we want to reward our users. That’s why for the next 3 months, those who stake their STELLA into xSTELLA would be eligible to get gas refunds for any transaction they’re performing on StellaSwap. Since initiating any transactions — such as swapping, yield farming, staking, claiming etc. — require you to pay gas fees in the form of GLMR, we decided to roll-out this program so you can save your GLMR gas! ❤️
Users spent gas amount will be refunded in STELLA tokens at the beginning of each subsequent month. In order be eligible for monthly gas refunds, you need to stake STELLA for the whole period between the first swap in a month to be taken into consideration and the day of the gas refund distribution itself.
Your eligible refund claims will be based on the amount of xSTELLA you hold;
The type of refundable transactions include;
- Normal Swaps
- Farms staking
- Add Liquidity
- Claim Rewards ( Harvest )
Will My Staked xSTELLA in Tripool or MAI Facility Be Eligible?
YES TO BOTH! Existing xSTELLA holders that already have staked their xSTELLA into our tripool or locked their xSTELLA to mint MAI do not need to worry as their xSTELLA is counted.
For new users, once you’ve staked STELLA through our xSTELLA feature, you can further stake em’ to the tripool to earn TRIPLE-REWARDS or collateralize them under our MAI facility to borrow MAI stablecoins and thereafter earn more yields by bstaking into our MAI<>Basepool farm!
Start staking STELLA here > https://app.stellaswap.com/xstella
Surprise to All xSTELLA Holders!
We’ve been secretive about the effective date of the program going live in order to reward long-time believers of StellaSwap first. We believe that they should be prioritized for their continual support of our vision. That is why we’ve started tracking eligible users since July 5! Here’s a snapshot of the relevant information;
⌚️ Effective Date of Gas Refunds: 5th July, 16:00PM UTC
🔳 Block Number: 1,377,710
💱 Refund Currency: STELLA tokens
⭐️ Date of Gas Refund Facility Going Live on Website: 7th July, 16:00PM UTC
💰 Date of Claims: 1st of Every Subsequent Month (First claim would be on 1 August)
🔄 Program Duration (Expected): 3 Months, following the duration of Harvest Moonbeam program
StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders, while continuing to innovate on the collective foundations by design.