Amazing how fast DeFi moves when they have the benefit of sharp and shadowy super-coders. For comparison, in TradFi, banks have been talking about, maybe, hopefully, someday soon, launching a Bitcoin ETF, for what feels like decades.
The announcement was meant to be something of a secret…
Two days ago we announced the 370m FTM incentive program.
Today, we sent out the first batch of incentives to @CurveFinance.
More to come.
https://t.co/AFvAayhsEe
1:49 PM · Sep 1, 2021
78 Reposts · 396 Likes
…but the Curve community noticed some sweet Fantom rewards trickling into their dashboards…
Fortunately for Curve, they crossed this barrier just yesterday. 24 hours ago they were sitting at $183MM, but the announcement of the Fantom rewards program juiced enough activity to push Curve to $208MM this morning.
Among projects tracked on DeFi Llama, this would make only Curve and SpookySwap ($BOO) eligible at the moment.
The value of these rewards is of course risky and highly dependent on the price of the $FTM token, which is pushing ATH since the announcement. We’re also seeing TVL within Fantom continuing to increase, jumping 19% in the past day as it pushes towards its first billy.
Additional alpha dropped, as Curve alpha Charlie Watkins confirmed its upcoming launch on Avalanche and Celo, both of which have announced multi-million dollar liquidity rewards programs recently.
Charlie also confirmed launch on L2: Arbitrum, which is going live very soon. It also appears a Solana launch is in the works, perhaps tied to the rumors that Solana is allegedly adding EVM support.
Maybe we’re giving off bad juju, perhaps a good time for us to change our name?
Newsletter is an independent roundup of interesting trends in cryptocurrency, never financial advice. Author stakes $CRV, but not in $FTM, $AVAX, $SOL, or $CELO.
