This year, the Avalanche Foundation also launched Avalanche Rush, the biggest liquidity mining incentive program, earmarking AVAX rewards worth $180 million to power the all-rounded growth of DeFi applications in the Avalanche ecosystem. The scheme will provide early projects with higher liquidity by introducing TrueUSD and other digital assets worth $1 billion to DeFi ecosystems. TrueUSD, an early DeFi infrastructure project, officially announced the launch of its Fountain Incentive Plan in October. Users can mint Avalanche-based TrueUSD on TrueUSD's official website to engage directly in the construction of the Avalanche ecosystem. This move has packed a hefty punch on the liquidity in the Avalanche ecosystem, and has laid a solid foundation for the development of its DeFi infrastructure. The partnership was later announced in March, making TrueUSD the first native stablecoin in the Avalanche ecosystem. In February, Avalanche launched its first-generation cross-chain bridge – Avalanche-Ethereum Bridge (AEB), whose prospect was recognized by the TrueUSD team. TrueUSD's partnership with Avalanche dates back to March this year. In addition, a new UI that eases the process of migrating liquidity from V1 to V2 is also in the pipeline. Within 30 days after the launch of V2, Pangolin distributed $4M worth of PNG to liquidity providers, in addition to the fixed daily mining rewards of 175K PNG set in its economic model, to support this new version while incentivizing users to migrate their liquidity from V1 to V2. Besides, it is worth noting that liquidity providers of Pangolin V2 will receive greater incentives. The updated smart contract has already been activated on Avalanche Mainnet on November 21.
#S and s pools upgrade
Superiority of the product upgrade is clear to users of V2 – Pangolin V2 features improved DEX parameters as well as streamlined trading and LP experience. As TrueUSD arrived on Pangolin V2, the APR of the TUSD-AVAX liquidity pool has been kept at a whopping 562%, dwarfing all other stablecoin pools and providing TUSD holders with a rich return. Users who provide liquidity to the pool will receive corresponding PNG rewards. A crucial contributor to this achievement is Pangolin, a top decentralized trading platform in the Avalanche ecosystem.Īs the first USD-pegged stablecoin native to the Avalanche protocol and an important partner of the ecosystem, TrueUSD launched the TUSD-AVAX liquidity pool on Pangolin, a decentralized trading platform, on November 22. NEW YORK-( BUSINESS WIRE)-The year 2021 is a significant milestone for the Avalanche protocol: its on-chain DeFi TVL has exceeded $12 billion, hitting a record high, and it has risen to be a top-five public chain in terms of TVL.