Great news!!

Sherlock has decided to make the September APY rewards even sweeter!

If you staked as a part of the Double-Digit APY Round or if you stake before Sherlock’s staking pool hits $16M of TVL, then you’ll receive:

• 10% USDC APY

• 10% SHER APY (doubled since the Double-Digit APY Round!)

But this is a VERY limited offer. Sherlock’s TVL is ~$11M currently and this offer only lasts while Sherlock’s pool is below $16M of TVL!

Pool Performance

The staking rounds from March and April have been hugely successful, and Sherlock has decided to keep the momentum going.

If the performance of Sherlock’s March and April staking pools continue as they have so far with no payouts, then each staker from those rounds will earn a ~37% APY!!!

Most of that APY came from SHER token appreciation due to Sherlock’s recently announced seed round. 15% of the APY was denominated in USDC. This round will start with a 10% USDC APY (with 10% extra in SHER tokens) and the goal is to approach a similar APY performance as the last round after 6 months!

To this day, the Sherlock staking pool has had zero payouts and zero claims filed. We are very lucky to have worked with some of the best smart contract auditors since Day 1, and Sherlock’s track record is entirely due to their skill and expertise.

We are working hard to continue this momentum, and we’ve overhauled our entire audit process in order to make protocols covered by Sherlock even more robust. We are 100% committed to showing that the crypto space can responsibly take care of itself and its users without external regulators stepping in.

Round Details

This round will show the ~10% USDC APY and SHER tokens on-chain, and the rewards will automatically be sent to your wallet when a position gets unstaked or restaked. This means you’ll (finally) be able to see the high APYs you are earning every day.

The incentive program works as follows: Sherlock expects ~8% average yield from premiums and yield strategies over the staking period. And Sherlock will commit to paying an extra 2% USDC APY (or whatever is necessary) over the course of the staking period to put the average USDC APY at roughly 10% over the course of the staking period.

Sherlock is committing to incentivizing the pool and targeting ~10% APY for the next 6 months. Because staking periods are 6 months long, it means that the sooner you stake, the more of that incentivized APY you’ll capture.

Along with the USDC incentives, Sherlock will be incentivizing the pool with SHER tokens. Sherlock will add another 10% APY in SHER tokens. Because the SHER token is not publicly traded, this 10% APY will be calculated at the valuation of Sherlock’s recently closed seed round.

All-in-all, Sherlock has demonstrated a perfect record when it comes to underwriting and we plan to continue making our underwriting and auditing processes even stronger.

Check out our continuously updating Overview page for all the statistics you need about Sherlock and the staking pool.

Make sure to stake before the $16M cap is reached!!