How to Use Royco
A guide for Action Providers (APs) on how to use Royco:
Last updated
A guide for Action Providers (APs) on how to use Royco:
Last updated
If you aren't familiar with Royco and Incentivized Action Markets, we encourage you to start by reading the Key Concepts page: here.
Using Royco IAMs, Action Providers create offers to complete onchain actions for incentives, like points or tokens according to a payout schedule. Action Providers create offers through interfaces like "roycoterminal.com."
Interfaces have two views to create offers:
Simple Mode: View all incentives that a user is eligible to receive in the market, as well as market type, etc. You can perform the action to receive the incentives according to the payout schedule.
Advanced Mode: View all market details, but also the depth of incentives offered. Advanced mode can be used to place "Market Offers" and "Limit Offers." The depth chart shows AP offers in Red and IP offers in Green.
In both of these views you can see:
The input asset is USDC, which will be swapped into GHO and staked for stkGHO for 30 days.
The payout schedule is "Forfeitable."
Payout schedules dictate how an IAM will payout incentives to you if perform the market action. These appear next to the APR of the market:
Payout schedules are immutable, and defined upon Market creation. There are 4 payout schedules:
Immediate: Incentives paid immediately upon action execution.
Streamed: Incentives paid over time, pro-rata to how long a user is in a market.
Post-Lockup: Incentives paid after a timelock. Early withdrawal NOT allowed.
Forfeitable: Incentives paid after a duration set by the market. Early withdrawal IS allowed, however, if a user exists early they forfeit all accumulated incentives.
An AP market offer will perform the action defined by the market immediately, to recieve the highest IP incentive offer on the Market. Connect your wallet, input the amount you want to supply, and submit the transactions.
An AP limit offer is an offer to perform the action, conditional on a certain amount of incentive being provided. These must be placed via the Advanced View.
Toggle the "Offer Type" dropdown and select "Limit Offer"
Enter how much of the input asset you are willing to provide for a higher incentive rate than what is currently offered. Let's say you'd like to supply 4 USDC in exchange for 0.1 GHO of incentive, you'd input the following:
Click "Next" to preview the APR you'd be eligible to receive.
The "30.33% APR" is higher than the market rate of 24.38% APR, so it makes sense to bid for that. ** For maximum capital efficiency, you can place limit offers with assets in other Royco Vault IAMs. These assets can be deployed in markets receiving incentives, and still be used to place an unlimited number of limit offers on other markets. These "cross-collateralized offers" must be between markets on the same chain and of the same base asset. Since the assets are not locked while you wait for your offer to be filled, Tenderly shows "No asset changes detected."
Once you've completed your transactions, you can view and manage your positions via the Portfolio tab.
For a video walkthrough, see below:
