July, August, & September 2022
Along with the leaderboards and King of the Jungle, Solrise is introducing monthly rewards for high-quality managers who can now earn a premium on the profits from their funds. The more investors they have and the more profit they earn, the more SLRS they are rewarded with.
Managers who joined the competition, have at least $1,000 locked manager share at the beginning of the month, and finish the month with a minimum of a $100 fund profit are eligible to receive SLRS rewards. 1 SLRS reward per $1 fund profit (up to 2 SLRS per $1 fund profit with higher locked manager share). The average amount of SLRS you have staked in the last 30 days determines your maximum monthly reward.
For each $1 of total profit a manager realizes in the month (end of month snapshot) with the fund they are competing with in DAWN of the Apes, they earn 1 SLRS (or up to 2 SLRS with the bonus multiplier from a higher amount of locked manager share).
Example: Fund manager with a $1,000 locked manager share who staked 10,000 SLRS on average in the last 30 days finishes the month with $5,000 fund profit. They will receive a 5,000 SLRS reward. A minimum of 100,000 SLRS will be distributed monthly as Manager rewards in varying quantities depending on how each manager performed throughout the month. If all managers on the platform as a group earn less than 100,000 SLRS in rewards, their rewards will be proportionally increased (for example if managers earn only 50,000 SLRS total, every manager would have their reward doubled). In this case, the reward can potentially exceed the maximum decided by staking.
Example: All fund managers earned only 50,000 SLRS. This means every winning manager will have their reward doubled. A fund manager with a $1,000 locked manager share who staked 10,000 SLRS on average in the last 30 days finishes the month with a $15,000 fund profit. They will receive a 20,000 SLRS reward (10,000 SLRS base reward + 10,000 SLRS bonus).
One individual manager can earn a maximum of 100,000 SLRS monthly. All managers on the platform as a group can win up to 1,000,000 SLRS monthly. In the event that managers would be eligible for more than 1,000,000 SLRS in the month, their rewards would be proportionally reduced (this would happen if managers realized more than $500k-1M profit on the protocol in a single month).
A higher locked manager share can increase the manager’s reward. The amount of locked manager share considered is the current value of the manager’s locked share in the fund at the start of the month (or the current locked value at the time of joining the leaderboard if joined mid-month). Make sure your locked manager share value is not lower than $1,000 at the start of the month or you will miss the opportunity to earn rewards that month.
Example: Fund manager with $5,000 locked manager share who staked 10,000 SLRS on average in the last 30 days finishes the month with $5,000 fund profit. They will receive a 7,500 SLRS reward due to the 1.5x multiplier. Example: Fund manager with $10,000 locked manager share who staked 100,000 SLRS on average in the last 30 days finishes the month with $50,000 fund profit. They will receive a 100,000 SLRS reward due to the 2x multiplier.
The average amount of SLRS staked in the last 30 days determines the maximum reward a manager can receive. The reward for a single manager can’t exceed 100,000 SLRS monthly.
Prizes are sent directly to winning wallets no later than 30 days after winning.