Loan rewards. Borrow at least 50 bnUSD and keep your risk below the reward threshold to earn Balance Tokens daily.
Liquidity rewards. Supply at least $50 of assets to a liquidity pool and earn Balance Tokens every day they're in there. Your assets must be in the pool at 1pm Eastern to receive rewards.
Network fees. Stake Balance Tokens and borrow at least 50 bnUSD to qualify for a share of the network fees each week. You'll also earn some for BALN supplied to the BALN/bnUSD liquidity pool.
Liquidation rewards. Set up the liquidation bot to cover the debt of high-risk positions for a 10% profit.
In partnership with the ICON Foundation, ICX holders can participate in the ICON community airdrip to receive Balance Tokens. All BALN the ICON Foundation earns through Balanced will be redistributed in a weekly drip.
From the day Balanced launches, delegate (stake and vote with) ICX from a wallet you hold the private keys for, like ICONex, a Ledger, or MyIconWallet on your iOS or Android device. Then sign in to app.balanced.network/airdrip with your wallet every week after the launch to claim your drip of Balance Tokens. You have a week to claim each drip – if you forget, you’ll lose it.
If you use a supported wallet, like ICONFi, stake your ICX and relax. You'll automatically receive the airdrip every week after Balanced launches.
If you stake your ICX somewhere else, like Binance, they'll need to add support for the airdrip. They've shared no plans to do so at this stage, so you might want to use another wallet to make sure you receive BALN.
sICX is a form of ICX you can hold in its staked state and still earn staking rewards. You can convert ICX to sICX for free on the Balanced exchange.
When you deposit ICX as collateral, it's first converted to sICX, and the value increases over time based on ICON's reward rate. You'll always see the ICX value in the UI, but you'll receive sICX when you withdraw it. You won't be able to use your sICX while it's in the collateral pool.
If you want to convert your sICX to ICX, there are two ways to do it:
Unstake it from the wallet section (traditional unstaking method).
Swap it for ICX (unstake instantly – you'll receive 1% less ICX)
If you unstake sICX from your wallet, it could take 1 day, or ~7. When people deposit ICX as collateral or convert their ICX to sICX on the exchange, that ICX is first used to fill any pending unstaking requests.
To keep bnUSD pegged to $1, traders can always retire it on Balanced in exchange for $1 of ICX, minus a 0.5% fee. This process burns the bnUSD (repaying network debt), and the trader receives an equal amount of ICX from the collateral pool (reducing the total collateral). It's an equal exchange, but causes both the collateral and loan values to decrease over time.
The impact of each rebalancing is spread across a group of 50 borrowers – the higher your percentage of the group's combined debt, the more your position is affected.
A maximum of 1% of the group's debt can be rebalanced in one transaction, and after you've been rebalanced, every other borrower will take a turn before it happens to you again.
If you want to retain as many ICX as possible, keep an eye on your rebalancing values in the position details section.
Open ICONex, then click the 3 dots next to your public key and choose Add Token. Enter the contract address for each asset:
Open MyIconWallet, go to Settings > Manage tokens, and select Balance Token, Balanced Dollar, and Staked ICX.