What is happening Across the Bridge: Episode 11 - Locked and Long on ACX

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Written by

#Club1BCH

1 year ago

In community: Cryptocurrency and Blockchain(7b7f)

Topics: Across, Across Protocol, Ethereum, Polygon, Arbitrum, ...

Across is the bridge that Ethereum deserves, being fast and financially efficient. Across connects Layer 2 and rollups to L1 Ethereum, being secured by the UMA’s optimistic oracle. It has a single liquidity pool, a competitive relayer landscape, and a no-slippage fee model.

The $ACX token launch was delivered perfectly by the Across Protocol launch team and the Success Token created for Hack VC, Placeholder and Blockchain Capital ensures the long term development. The three leading venture capital firms that specialize in web3 technology purchased 50MM Across Success Tokens from Risk Labs, a $10MM investment in Across Protocol. This structure allows a venture investor to gain leveraged upside to ACX while allowing the Across DAO to avoid excessive selling of tokens after launch.

Each success token will matures on the 30th of June 2025 and returns 1 ACX along with the value of one call option on ACX struck at $0.50. As long-term strategic partners, Hack VC, Placeholder and Blockchain Capital will use their experience and network to provide advice and resources to help the Across Protocol succeed.

Why is Across Protocol locking system innovatory? Why I go #LockedAndLongACX ? Because the Accelerating Distributor used by Across is a modified staking contractor that tracks when an LP starts staking the tokens and when the LP will claims the rewards. The earning multiplier increases as time passes, helping loyal LP providers to earn at an accelerated rate. The locking system is as cool as this Dragon bridge that breaths fire!

Across Protocol is the first protocol to implement reward locking, incentivizing the ETH, USDC, DAI, WBTC and ACX pool, and facilitating bridge transfers. The Across reward locking programming multiplier starts at 1 on day zero and will grow linearly to a maximum of 3 when rewards are left unclaimed for 100 days. Read all the details in Episode 10 - All You Need To Know About The ACX Token

Anyone holding ACX tokens can earn between 18-54% APY by providing liquidity, with more rewards day by day and no IL. The long term development is the strategy I go along, and I went locked and long with my ACX airdrop. I had 53,175 ACX to claim as a Liquidity Provider and Community Memeber, and I decided to go for the full 100 days lock-up.

ETH mainnet is still a pain, but $11.57 wasn't that bad. I confirmed my claim and let the ACX stash move into the staking pool. I started earning ACX instantly, and I can easily check the progress whenever I want!

My Across Protocol staking rewards looked solid after one week, as the amount of $ACX farmed by the ACX LP reached 139 tokens. Easy six buck in a week and more to come as the multiplier reached 1.15x in seven days.

Bigger rewards every day, as the Christmas check was looking festive! The multiplier reached 1.54x after 27 days and Santa prepared 664 ACX tokens in the stocking. Going locked and long on ACX generated 28 dollars in less than a month! Looking forward to the 3x multiplier after the one hundred day!

Do you wanna play the long game? You should check ACX, one of the tokens with positive growth since launch. Locked and long is the way to get out of the crypto winter, and the best way to improve the crypto portfolio.

Across liquidity lives on Ethereum Layer-1, the safest place for assets. The token breakdown from DefiLlama shows the ranking of all assets pooled for bridge liquidity with Across, with USDC and WETH covering 74.95% of the total

The rewards are not stopping with Across Protocol, as I keep earning tokens' by referring others to the bridge and even by using the bridge for my own transactions. I reached the Silver Referral Tier, and $7,961 bridge volume.

My ACX multiplier grow linearly towards 3x, and me and the other OGs are half way trough the journey. The maximum multiplier will be achieved when rewards are left unclaimed for 100 days, and 50 of them are already gone. I staked my bag of $ACX since day one and farmed 1,634 tokens thanks to the perpetually growing multiplier.