Just a day after announcing the blockbuster liquidity mining rewards program, Curve has not only released details but started giving money away.
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…
…but the Curve community noticed some sweet Fantom rewards trickling into their dashboards…
…so Curve went ahead and spilled the beans.
Let’s hope Curve didn’t violate an NDA here!
The specifics of the Fantom incentives program are to provide 12M $FTM tokens over the course of a year for any project with a minimum $200MM TVL.
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.
With so much amazing news, the only metric not adding up happens to share a name with this newsletter… the Curve Market Cap.
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.