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Smart Rewards

Smart Rewards is a robust permissionless incentivization platform that allows protocols and projects to create reward campaigns tailored to their specific needs. Whether you're looking to reward liquidity providers, encourage specific user behaviors, or create unique reward structures, Smart Rewards offers unparalleled flexibility and control.

By using the Smart Rewards Distributor, campaign creators can set up and manage reward campaigns effortlessly, choosing from a list of acceptable reward tokens or requesting the addition of new ones.

Key Features​

Customizable Reward Campaigns​

  • Token Flexibility: Select your preferred reward token, with the option to request the inclusion of new tokens.

  • Escrow Protection: Funds are securely held in escrow until the campaign begins, ensuring transparency and security.

  • Pause & Refund Options: Campaigns can be paused or canceled at any time, with undistributed tokens returned to the creator.

Distribution Bundles​

  • Composability at its Best: Distribution bundles provide unmatched flexibility in designing reward mechanisms. These modules determine who should receive rewards and how much, based on a variety of parameters.

  • Customizable Logic: Create bundles to incentivize specific behaviors, such as rewarding users who complete KYC, hold certain tokens, or meet specific liquidity criteria.

  • On & Off-Chain Integration: Distribution bundles can pull data from any source, allowing for complex reward structures that align with your project's unique goals.

Reward Allocation Visibility​

  • Real-Time Tracking: Users can see their rewards accumulating in near real-time, providing immediate feedback and encouraging continued engagement.

  • Deterministic Execution: All bundle executions are fully transparent, allowing anyone to verify the accuracy of the results.

Efficient Claiming System​

  • Frequent Publishing: Rewards are frequently published and available for users to claim, ensuring a smooth and efficient experience.

  • User Dashboard: A dedicated dashboard allows users to easily track and claim their rewards.

How Can Smart Rewards Be Used?​

Smart Rewards is a versatile platform and can be applied for various use cases:

  • Incentivizing Liquidity Providers: Reward LPs based on performance, duration, recognized IL, or any other criteria you set.

  • Engaging Community Members: Offer rewards to users who participate in governance, complete tasks, or promote your protocol on social media.

  • Rewarding Stakers: Design campaigns that distribute rewards to users staking tokens in your protocol, with custom parameters for distribution.

  • Encouraging Adoption: Drive user adoption by rewarding specific actions like bridging assets, using new features, or holding tokens.

What Can You Do with Smart Rewards?​

With Smart Rewards, the possibilities are endless:

  • Design Multi-Token Reward Structures: Create campaigns that reward users with multiple tokens, each with its own distribution logic.

  • Incorporate External Data: Use off-chain data sources to influence reward distribution, such as real-world events or social media activity.

  • Build Complex Incentive Programs: Combine multiple distribution bundles to create layered incentive programs that reward users for diverse actions.

Rewards Campaigns​

Reward campaigns are created by interacting with the Smart Rewards Distributor to register a campaign. When a campaign is registered, the user selects what token will be the reward token. Only certain tokens are acceptable as reward tokens, feel free to reach out to raise a request to add an additional token to the whitelist. The funds are transfered into the distributor in escrow until the campaign begins. Steer takes an upfront 3% fee on all campaigns created. Campaigns can be canceled and undistributed tokens can be returned to the creator at any time.

Distribution Bundles​

With Steer continuously pushing the composability of the DeFi space, campaign distribution bundles give unparalleled flexability when it comes to designing reward mechanisms. The purpose of a distribution bundle is to determine for a given period of time who should recieve rewards and how much. These bundles can be hooked up to any data source and do any processing needed to meet your needs. A user could create a bundle to incentivize liquidity providers who have experienced a >5% loss from impermanent loss, or if they have completed a KYC process and hold a certain token and follow the protocol on Twitter. The possibilities are endless.

note

If a bundle submits flawed accounting attributing more funds that available to addresses errors will throw.

Reward Allocation Visibility​

A benefit of Smart Rewards is the rewards are updated frequently so that users can watch their rewards accumulating on a quick timeframe. All bundle executions are deterministic and so anyone can verify the accuracy of the result. Pending rewards are tracked and displayed for users to see. This allows users to see fees they have started earning on a much faster timeframe compared to legacy methods.

Publishing Rewards​

On a frequent basis, the pending rewards are combined to the already published claim rewards, and users are free to claim any rewards they have recieved.

Claiming Rewards​

To claim rewards visit and view the user dashboard.

tip

If you or your protocol are interested in joining the beta program for smart rewards Connect with us