Minerals

Compete to be the best liquidity provider on Dolomite and earn XP along the way

Dolomite Minerals are a way to give recognition to those helping to provide the raw minerals (liquidity) that power strategies on Dolomite.

What are Minerals?

Minerals are non-transferrable ERC-20 tokens that can be collected weekly. The collectable amount depends on the amount of USDC and ETH liquidity you provide on Dolomite. Minerals hold no value and can't be traded. Accumulating minerals allows you to hit various milestones to earn XP, and allows you to compete with other Dolomite users by trying to place higher on the Minerals leaderboard.

How to Earn Minerals

Minerals are earned by providing USDC or ETH liquidity to Dolomite. You will earn minerals if your USDC or ETH is deposited to your Dolomite Balance or if you're using USDC or ETH as collateral in a borrow position.

• USDC earns you 1 mineral per USDC per week held on Dolomite

• ETH earns you 5,000 minerals per ETH per week held on Dolomite

At the end of the week, minerals you earned from that week are multiplied by your multiplier and become available to be collected.

Weeks roll over on Thursdays at 00:00:00 UTC

Minerals Multiplier

Your multiplier starts at 1x, and at the end of your first week you can collect the same number of minerals that you earned that week. For each following week, as long as you earn at least as many minerals as the week before (pre-multiplier), you keep your multiplier and it increases by 0.5x, to a maximum of 5x. If you don't earn at least as many minerals as the week before, you lose your multiplier and your earnings for that week don't receive any multiplication.

So for example, let's say you deposit 5,000 USDC to Dolomite:

Week 1 - At the end of the first week, you'll have earned 5,000 minerals, and can add 5,000 minerals to your collection. Your multiplier increases to 1.5x.

Week 2 - At the end of the second week, you'll have earned another 5,000 minerals, and with your 1.5x multiplier you'll be able to collect 7,500 minerals. Your multiplier increases to 2x.

Week 3 - Say you want to change your holdings, so you swap that 5,000 USDC to ETH, leaving 1 ETH on Dolomite and withdrawing the rest. Because 1 ETH earns 5,000 minerals per week, at the end of the week you'll still have earned 5,000 minerals, so you'll retain your multiplier. With your multiplier, you'll be able to collect 10,000 minerals, and your multiplier increases to 2.5x.

Week 4 - Say you withdraw some ETH from Dolomite, leaving only 0.5 ETH. At the end of the week, you'll have earned only around 2,500 minerals (if you withdrew right at the start of the week). Because you fell short of the minerals earned the previous week, you'll lose your multiplier and go back down to 1x. With the loss of your multiplier, you'll have only earned 2,500 minerals for the week.

Of course, over those 4 weeks you would have very likely earned interest on your asset, earning you ever more minerals as your deposit grew!

The Minerals Page

The Minerals page allows you to track the amount of Minerals you've earned and collected. Here's a breakdown of the information displayed:

Total Minerals Collected - At the top of the page you can see your total minerals collected. This number doesn't include the minerals that you've earned during the current week. Once a week has completed, the minerals earned during that week become available to be collected, and once collected they are added to your total shown at the top of the page.

Rank - At the top of the page you can see how your mineral collection ranks against other Dolomite users. Collect more minerals to climb the leaderboard. You can see the full leaderboard at the bottom of the page.

Multiplier - As long as you maintain the same amount of liquidity on Dolomite, you will keep your multiplier and increase it every week (to a maximum of 5x). The amount of minerals you earn during the week will be multiplied by your multiplier when they become collectable. So if you earn 1,000 minerals over the course of a week and have a 2.5x multiplier, at the end of the week you will be able to collect 2,500 minerals to add to your collection.

Balances - Below your total minerals collected you can see your USDC and ETH balances. USDC and ETH borrowing is at the core of many strategies being performed on Dolomite, and as such are the two assets that earn you minerals. Your USDC and ETH balances shown here reflect USDC and ETH in your Dolomite Balance as well as any USDC or ETH you hold as collateral in your Borrow Positions.

USDC Balance - USDC held on Dolomite earns you 1 mineral per USDC per full week. So 100 USDC on Dolomite for a whole week earns you 100 minerals at the end of the week. If you only have that 100 USDC on Dolomite for half a week, you earn 50 minerals.

ETH Balance - ETH held on Dolomite earns you 5,000 minerals per ETH per full week. So 1 ETH on Dolomite for a whole week earns you 5,000 minerals at the end of the week. If you only have that 1 ETH on Dolomite for half a week, you earn 2,500 minerals.

Minerals earned this week - Here you can see the minerals you've earned so far this week. This number will steadily increase throughout the week, and reset back to zero once a week on Thursday when the amount becomes collectable and the new week begins.

On track to earn this week - This is an estimate of how many minerals you'll earn this week (before applying your multiplier), extrapolating forward from the balances of USDC and ETH you hold and the amount of minerals you've earned so far this week.

Amount that must be earned to retain multiplier - This is the amount of minerals that you earned last week (before your multiplier was applied). In order to retain and increase your multiplier, you must earn at least this many minerals by the end of the current week. The simplest way to do so is to just keep the current amounts of USDC and ETH you held from the previous week, however you are free to change the assets and amounts you hold as long as you still reach the same number of points by the end of the week.

On track to earn this week with multiplier - This is an estimate of how many minerals you'll earn this week after your multiplier is applied to that amount. When the week ends, this is approximately the number of minerals that will become available for collecting.

Earned minerals available to be collected - At the end of each week the minerals you earned from that week become available to be collected, and are added to the number here. Clicking "Collect" will prompt you to submit a transaction which will add those minerals to your collection. You are free to wait several weeks before collecting if you wish, and the number shown here will just increase as the minerals you earn each week become available to be collected.