Avalanche Announces a $180 M Liquidity Mining Program: Avalanche Rush
Avalanche Rush plans to bring a blue-chip DeFi app to Avalanche. It is planning to launch two protocols- Curve and Aave.
The Avalanche Foundation has recently announced a $180 liquidity mining incentive called Avalanche Rush. In addition, it is planning to introduce additional assets and applications for the growth of its DeFi ecosystem. Avalanche Rush plans to bring forth the two largest DeFi protocols by Total Value Locked (TVL) – Aave and Curve. Phase one of the Rush program will release Avalanche native token, AVAX. This will act as a mining incentive for Curve and Aave holders in the last three-month period. The Avalanche Foundation is likely to allocate up to $7M AVAX for Curve and $20M AVAX for Aave users. Phase two of the same is speculated to roll out in the next few months. Aave is a decentralized non-custodial liquidity market protocol where users can participate as depositors or borrowers. You can walk through our Aave review, for more information and details about the platform.
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The incentive program of Avalanche Rush is showcasing the seriousness of the Avalanche Foundation’s commitment. The scaling plan of the DeFi platform is to make it a more cost-efficient, decentralized, and accessible ecosystem. In addition, it hasrecently launched a mining initiative worth $3M liquidity with BENQi, a native liquidity protocol of Avalanche.
Stake DAO has reportedly partnered with Avalanche. The collaboration took place for staking purposes and their plan to architect innovative yield-producing strategies based on the impending deployment of Aave and Curve. The launch of Avalanche Rush comes at the heels of the Avalanche Bridge (AB) launch. Avalanche Bridge is a next-gen cross-chain technology that transfers assets amid the blockchains. The blend of the new bridge and Avalanche Rush will provide strong liquidity benefits and a smooth user experience for the forthcoming DeFi application to join the bandwagon of the Avalanche ecosystem.