FAQ
What is Polynomial Earn vaults?
Polynomial automates financial derivative strategies to create products that deliver passive yield on various assets. Currently, we have a call selling and put sell strategy on the platform. Through a weekly automated option selling strategy, the vault generates a return on its deposits. To effectively compound the returns for depositors over time, the vault reinvests the yield into the strategy.
Why Optimism?
Optimism is a layer two scaling platform that inherits the security of Ethereum by being a rollup. Optimistic Rollups have been quicker to provide a generalized environment where multiple applications can exist. Also, the transactions are so fast and the low gas fees.
Why does the user need to connect the wallet?
To interact successfully with a dApp like Polynomial Earn vaults, you'll need to connect your wallet and give the DApp permission to make signed transactions. Most crypto wallets allow you to connect easily with the dApp in this way.
Why do the users need to switch to Optimism?
Polynomial Earn Vaults are built on top of the Optimism Network.
Why does it show insufficient balance, while I have assets on my wallet?
Polynomial Earn Vaults use synthetic assets developed by Synthetix. If the user doesn't have the synthetic assets, then users should swap into synthetic assets to deposit into the Earn Vaults. The user can use the swap feature available on the site for this.
Does Polynomial have a token?
Polynomial does not have a protocol token, be aware of scams. Please report scam tokens if you see one.
How does Polynomial vaults sell options?
Polynomial vaults sells the newly minted options to Lyra AMM in batches to collect yield.
What risks does the user need to know when depositing in the Earn Vault?
Please refer to Risk
What about Lyra trading rewards?
The protocol will stake it on behalf of polynomial users as xLyra, which will decrease AMM fees for users in the long term, thereby increasing yield marginally. The protocol will keep all the tokens.
Why is the amount I bridged different from the deposited amount?
This is because the assets were swapped into vault compatible assets for deposit For eg :
USDC -> sUSD
What are tasks for Polynomial's Optimism Quest?
Optimism Quests are a simple, educational, and rewarding exploration of the Optimism app ecosystem. Just by completing a short quiz and task, users will be able to mint a commemorative NFT that represents the completion of the Polynomial's Optimism Quest.
The off-chain tasks for Polynomial's Quest are
The on-chain task Polynomial's Quest is :
Deposit > $1000; Duration > 24 hours
Deposit < $1000; Duration > One week
To get started with our quest : Click Here
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