SUMMIT TOKEN & ECOSYSTEM
Farming
Expedition
Developers
Expedition FAQ & Troubleshooting
How is the Expedition funded?
50% Deposit Fees, 50% of Withdrawal Fees and 60% of Passthrough Strategy rewards are used to create and fund Expeditions.
Will the Expedition ever run out of funds?
The simple answer is NO. The CartographerExpedition contract (the one that holds and runs Expeditions) doesn't allow us to create an expedition without already having funds to cover the entire run of the expedition. Before the expedition is created, it checks to make sure that it can pay out the winnings every round.
Expeditions are run on a set schedule to allow time for funds to accumulate. As long as users are farming with Summit DeFi, the expedition will be running strong.
Are Rewards Automatic?
Yes! Rewards will accrue automatically as long as you have chosen the bull or the bear at least once.
Your choice will roll over from round to round until you change it.
Does the Expedition use Vesting?
- 1.The winnings from the Expedition are in USDC and Summit for those who have already locked Summit for Everest to participate.
- 2.The USDC is not locked and available for immediate withdrawal however; the SUMMIT won from the Expedition will need to be locked just like you do for the rewards received from the Elevation farms.
- 3.It's way more fun to withdraw large amounts of stablecoins at once.
Does the method to choose the 'chance of success' affect the outcome?
The simple algorithm to choose the next rounds chance of success promotes a sense of fairness. The chance of success will tend (not guaranteed) to move away from the previous winner.
Though this may seem to make it advantageous to switch Deity after every round, the actual winner of each round is always random.
Will Expeditions cause large SUMMIT price fluctuation around round end?
Perhaps. Expeditions give added value to long term SUMMIT holders, the price of SUMMIT should increase as the value of SUMMIT increases.
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Last modified 2mo ago