Updated 26 Dec: With Sophon mainnet now live, Sophon is implementing a straightforward migration process that maintains your farming position while upgrading your experience. This migration process will complete on 28 Dec. See the FAQ for more details.
Both Avail and Sophon Communities now have more reasons to celebrate the recent partnership announcement between Avail and Sophon. This new initiative will give the community a chance to benefit from this partnership directly.
AVAIL stakers can now benefit from multiple rewards, including native AVAIL APY, Deq Points, and exclusive incentives through Sophon's farm mechanics, starting with the launch of the stAVAIL pool on farm.sophon.xyz.
What Is the Sophon Farm?
Sophon's farm offers an early opportunity for eligible Avail community members to participate in the Sophon ecosystem, enabling them to earn rewards while supporting the project's growth. By staking stAVAIL tokens on the farm, eligible participants earn Sophon Points (SP) and have the chance to boost their deposits for additional rewards.
For more details, visit the Sophon farm documentation.
Benefits for AVAIL Stakers
Staking stAVAIL in the newly launched pool offers a range of benefits to stakers:
- AVAIL Native APY via Deq.fi: Earn auto-compounding AVAIL rewards via native APY.
- Deq Points: Earn Deq Points by minting and holding stAVAIL.
- Sophon Points (SP): Earn SP through Sophon's farm, making you eligible for a future SOPH incentive program.
- Additional stAVAIL rewards: Earn extra stAVAIL rewards by staking in the Sophon pool.
This reward structure provides multiple streams of rewards beyond the standard AVAIL APY.
Boost Your Earnings with stAVAIL Boosters (Optional)
You can amplify your earnings through Boosters, which multiply SP earnings. Boosters can be activated during deposit or after staking, however please be aware that this will permanently lock your stAVAIL tokens, making them unusable for future activities or rewards on Sophon, or anywhere else.
Activating a booster involves permanently allocating a portion, or all of your deposited assets to provide liquidity on Sophon mainnet, making the committed assets non-withdrawable, forever.
For more details, see Sophon’s Boosts documentation.
How to Get Started
Follow these steps to stake your stAVAIL tokens and start earning rewards:
Step 1: Ensure you have stAVAIL tokens in your wallet.
- Option1: Get stAVAIL with any ERC-20 on deq.fi:
- Go to deq.fi and mint stAVAIL using any ERC-20 asset like ETH or USDT. Select the asset in the dropdown menu (or search with the token address) and follow the transaction steps.
- Option 2: Get AVAIL ERC-20 from an Exchange & Mint stAVAIL on deq.fi:
- DEX: Get AVAIL using on-chain liquidity on DEXes via aggregators like 1inch or Matcha.xyz
- CEX: Get the AVAIL ERC-20 token from Gate.io or Bitget, withdraw to your ERC-20 wallet.
- Mint stAVAIL at deq.fi using AVAIL
- Option 3: Bridge native AVAIL & Mint stAVAIL on deq.fi:
Step 2: Stake your stAVAIL tokens on the Sophon Farm - Deposits via Ethereum are now complete. As of December 28th, you will be able to bridge to Sophon by using https://portal.sophon.xyz/bridge/. See the migration FAQ below for more details.
- Connect Your Ethereum Wallet
- Visit Sophon's farm.
- Click "Connect Wallet" and select your Ethereum-compatible wallet (e.g. MetaMask).
- Stake Your stAVAIL Tokens
- Navigate to the Sophon Farm at farm.sophon.xyz
- Enter the amount of stAVAIL you wish to stake.
- Confirm the transaction in your wallet.
- You’re all set.
- Activate a Booster (Optional)
- Depositing stAVAIL to activate the booster will permanently lock your stAVAIL tokens, making them unusable for future activities or rewards on Sophon, or anywhere else. Before boosting, please familiarize yourself with all the details here.
- To boost SP earnings, choose the booster option during deposit or activate it later.
- Specify the portion of your staked tokens to commit for boosting.
- Confirm booster activation.
- Start Earning Rewards
- Monitor your rewards on Sophon’s dashboard.
Looking Ahead
After the recent announcement that Sophon will integrate with Avail to power consumer entertainment onchain, community members from both ecosystems will get the chance to play a more active role in solidifying the partnership through the unified token initiative. By participating now, you position yourself for potential future benefits, including SOPH token allocations. More activities are yet to be announced, so follow Avail on X and keep an eye out for more updates over the coming months. AVAIL stakers, stay tuned for an announcement on what this means for you.
Sophon Farm Migration FAQ
What is happening with the Sophon Farm migration?
The Sophon Farm is transitioning from Ethereum to Sophon mainnet.
What are the key dates for the migration?
- December 19: L1 farming closes for new deposits at 23:59 UTC; optional withdrawal window opens.
- December 26: Last day for L1 withdrawals by 23:59 UTC; remaining assets will be auto-migrated.
- December 27: Automatic migration to Sophon mainnet; Phase 1 SP point accrual ends.
- December 28: Farming goes live on Sophon mainnet; Phase 2 SP point accrual begins.
Do I need to take any action for my assets to migrate?
No action is required if you wish to continue farming; your assets will be automatically migrated to the Sophon mainnet. If you prefer to opt out, you can withdraw your assets from the L1 farm between December 19-26.
Will I continue earning Sophon Points (SP) during the migration?
Users that leave their deposits in the farm through the migration period will continue to accrue SP rewards.
Note: Assets withdrawn from the L1 farm before migration to Sophon mainnet do not accrue SP points during this migration phase between Dec 19-27.
What improvements can I expect in Phase 2?
Phase 2 introduces USD-based reward calculations for fairer distribution, a simplified user interface, gasless transactions during the initial phase, and extra rewards for liquidity provision.
How can I get support during the migration?
For assistance, join the Sophon Discord community at discord.gg/sophonhub or follow @sophon on Twitter for the latest updates.
For detailed information, please refer to the official Sophon Farm Migration blog post.
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