Mozaic Guides: Relics

Mozaic is excited to announce the upcoming launch of Mozaic Relics - an innovative new feature designed to supercharge your yield farming experience. Building on our goal of maximising returns for our users, Mozaic Relics takes things to the next level by rewarding loyalty and long-term deposits into Mozaic vaults.

Relics are NFTs that accrue time-weighted rewards based on the duration of your vault deposits. The longer you park your funds in Mozaic Vaults, the bigger your rewards will be!

You can score your Relic by depositing your Mozaic Vault-LP token into the upcoming Mozaic Relics Terminal. You will then earn additional rewards - which you can claim at any time - by continuing to hold your deposit. As you progress through the various levels, you will receive a larger share of incentive pool rewards.

Here’s a sneak peak the Mozaic Relics Terminal user interface:

At Mozaic, we have always tried to push the boundaries of what’s possible in DeFi. The introduction of Mozaic Relics is a testament to this commitment, as we look to align the interests of our users, the Mozaic DAO, and $MOZ stakers in a mutually-beneficial ecosystem.

Relics are more than just a new feature; they are a strategic move to encourage long-term deposits into Mozaic vaults, which is essential for supporting Mozaic’s growth. We believe in our product and we want to reward users that support our long-term vision. Time-weighted Relics rewards incentivise users to maintain their deposits in Mozaic Vaults, driving TVL growth and retention. This approach not only boosts your personal returns but also ensures a robust and stable Mozaic ecosystem.

Relics are designed to ensure that all participants in the Mozaic protocol benefit. As users earn rewards for their loyalty, the DAO generates performance fee income from Vault TVL which is reinvested into building out the protocol and rewarding $xMOZ stakers with a share of protocol revenues via the Mozaic Earn Terminal.

The Mozaic Relics functionality is based upon the Cod3x Relic and offers time-weighted rewards to incentivise loyal vault depositors. When you deposit your Mozaic Vault-LP into the Mozaic Relic, you start building maturity, which allows Mozaic to distribute time-weighted $xMOZ (staked $MOZ) emissions to you. Users can choose to stake their $xMOZ into the Mozaic Earn Terminal or withdraw from the Staking Terminal.

Mozaic’s Relics are programmed to record a user’s maturity and reward positions according to a boost multiplier. Mozaic Relic rewards maturity will increase linearly over twelve months, at which point the maximum boost of 1.6x % is reached. 

Mozaic DAO will allocate an incentive reward pool of $xMOZ tokens that accrues continuously with each block. The size of this reward pool is determined by a variable Relics Incentive Rate, set by the DAO, and applied to the vault’s total value locked (TVL). The Relics Incentive Pool grows alongside the protocol’s TVL. The current incentive rate will be published on the Mozaic Website.

As the vault’s TVL increases, the incentive pool rewards users proportionately to their share of the vault’s TVL, ensuring a fair distribution of rewards.

Each block, the Mozaic Relic Terminal calculates and distributes rewards to user wallets based upon their Relic Incentive Boost and share of vault TVL:

Relic incentive (user)=

User's share of Vault TVL (1+ User Relic Boost) x Total incentive pool (per block)

For example:

James holds 1% of the total vault TVL with a 120% Relic Boost. If the total incentive pool per block is 1,000 $xMOZ, his reward for that block is calculated as follows:

James' Relic Incentive = 1% x 120% x 1,000 $xMOZ = 12 $xMOZ

Don’t forget - Mozaic Relics incentives accrue in real time and can be claimed at any time!

Users will receive one relic on the blockchain where the destination vault resides (starting with Arbitrum Mainnet) and vault deposits on that blockchain will be aggregated against this same relic. When the user deposits an additional amount of a Mozaic Vault-LP into their relic, their User Relic Boost is recalculated and will be proportionately reduced by the weighted average of the customer’s new deposit.

If a user chooses to withdraw their deposit, their relic will continue to receive rewards and their User Relic Boost will continue to grow, as long as they maintain a Mozaic Vault LP balance staked in the Mozaic Relic Terminal.

Mozaic plans to launch relics in Q3’24 following the General Availability relaunch of the protocol’s Theseus Vault - which will commence beta testing next week! Our launch strategy includes exclusive bonuses to jumpstart your experience with increased emissions rates for early adopters.

Don’t miss out on the opportunity to maximise your yield with Mozaic Relics. We are committed to providing market-leading rates to our loyal community.

Stay tuned for our upcoming launch and be among the first to boost your yields with Mozaic Relics.

Disclosure: This article does not represent investment advice. The content & materials featured on this page are for educational purposes only. Please do your own due diligence when using third party front-ends & software services.