The Farmix protocol introduces an interesting system with fibTokens that allows users to earn additional rewards based on their staked assets. Here’s how it works and what key points you need to consider:

How the fibTokens system works:

1. Staking assets and receiving fibTokens:

   When you stake assets such as TON, USDT, NOT, or other available tokens, you receive equivalent fibTokens. For example, if you stake 100 TON, you will receive fibTON, which is equivalent to 100 TON. These fibTokens can be seen as a representation of your assets within the Farmix protocol.

2. Earning rewards on fibTokens:

   Rewards are distributed to the fibTokens of each staker whenever someone closes a leveraged farming position with a loan in the same token. For example:

   • Alice opens a leveraged farm with a x2 leverage, using TON as the borrow asset.
   • When she closes the farm, she needs to pay the borrow fee in TON.
   • 50% of this borrow fee is distributed among all users who are staking TON in Farmix (i.e., those who hold fibTON).

3. How Bob receives rewards:

   Let’s say Bob has staked 100 TON, received fibTON, and now holds tokens equivalent to his stake. When Alice closes her farming position, she pays the borrow fee in TON. Bob receives his share from the 50% of the borrow fee because he holds fibTON. Eventually, when Bob decides to close his staking, he will receive:

   • 100 TON (his original stake).
   • Additional TON as a reward for participating in the protocol (based on the borrow fee).

Key Points:

• fibTokens represent your staked assets and accumulate rewards. These tokens are necessary for receiving rewards, and they must be held until you decide to close your staking.
• Do not send or transfer fibTokens: They are required to close your staking and collect rewards. If you send or transfer these tokens, you will lose your share of rewards and assets, as they serve as "proof" of your participation in the protocol.
• Rewards on fibTokens depend on activity within the protocol, such as the closure of leveraged farms where participants pay a borrow fee.

Benefits of This System:

1. Flexibility: Stakers can earn additional rewards without the need to actively participate in farming positions or manage liquidation risks.
2. Automatic participation in the protocol’s economy: Since rewards are automatically distributed to fibTokens, users can simply keep their tokens staked while other farmers use credit and pay fees.
3. Incentive for long-term asset holding: fibToken holders earn regular rewards in the same asset, which can encourage users to hold their assets in the protocol longer.

Conclusion:

The fibTokens system adds an extra layer of motivation for stakers, as they earn rewards not only for providing liquidity but also for the activity of other users who use credit within the protocol. It also creates a sustainable model for the protocol, where stakers benefit from the high activity in the network.