Avalanche Rush: Over $ 180 Million in DeFi Incentives Planned
The program will provide tokens worth $ 27 million for Aave and Curve. Incentives are also reserved for other avalanche projects.
The smart contract platform Avalanche has announced a $ 180 million liquidity mining incentive program under the name Avalanche Rush. The aim of the program is to convince more applications and tokens to switch to Avalanche’s decentralized financial platform (DeFi), according to the announcement.
A multi-stage implementation is planned, starting with the Aave and Curve protocols. Others are expected to join in the coming months. In this first phase, Avalanche will provide AVAX tokens worth up to $ 20 million for Aave and AVAX tokens worth $ 7 million for Curve over a period of 3 months. In addition, the Avalanche Foundation plans to support the introduction of the DeFi protocol by Benqi in the Avalanche network with 3 million US dollars from August 19.
Shortly before, the Avalanche Bridge was re-released. This is an improved version of the project’s previous cross-chain bridging tool that is said to be five times cheaper, faster, and more secure than before.
A portion of the money allocated to Rush is reserved for current and future Avalanche applications. More information between incentives is coming soon.
Aave Companies founder Stani Kulechev said about the program.
Avalanche Rush: Over $ 180 Million in DeFi Incentives Planned - /10