Omm support
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FAQ
Questions about Omm? Find the answers to common queries here.

How to earn rewards

ICX staking rewards. Supply ICX to earn staking rewards automatically. Your supplied ICX value will increase over time to reflect this.
Supplier rewards. Supply an asset to earn interest and Omm Tokens each day.
Borrower rewards. Borrow an asset to earn Omm Tokens each day.
Staking rewards. Stake OMM on Omm to earn more Omm Tokens daily.
Liquidity rewards. Supply OMM to a liquidity pool on Balanced, then stake your LP tokens on Omm to earn more OMM.
Liquidation rewards. Set up a liquidation bot to cover the debt of high-risk positions for a 10% discount.

How sICX works

sICX (Staked ICX) is a form of ICX you can hold in its staked state and still be entitled to ICON staking rewards.
When you supply ICX, it's added to a staking pool so it continues to earn staking rewards. It's represented by sICX, and the ICX value grows over time in proportion with those rewards. You'll receive sICX when you withdraw, which you can unstake or swap for ICX on Balanced.
You'll also receive sICX when you borrow from the ICON market.

ICY airdrop support

The ICON Network will soon release a partner blockchain, known as the ICE Network. When ICE launches, there’ll be an airdrop of ICY tokens: 1 ICY for every ICX you hold.
At least 20% of the airdropped tokens will be available immediately, and the remainder will be vested and unlocked over a 3 year period. Learn more about the ICY airdrop.
In anticipation of this airdrop, the Omm community voted to deactivate the ICON borrow market, increase the interest rate to 120%, and move the Omm rewards to ICX suppliers. This was done to prevent suppliers from withdrawing their ICX from Omm, as every ICX borrowed when the airdrop snapshot happened in December would reduce the amount of ICY that suppliers can claim. View the forum discussion.
To guarantee a 1:1 airdrop for every ICX supplier, the Omm contributors will make up the difference caused by the outstanding borrow balance.
The Omm community has since voted to reactivate the ICON borrow market. More guidance will come as the developers learn more.