Aave launched liquidity incentives for the v2 protocol and paid bonuses for administration tokens of over 20% to users who have stable currencies.
At the time of writing, users who place stack coins on the protocol may experience an additional return of 4.78% to 13.49% in addition to their regular earnings in the form of Aave tokens (stkAAVE). Bitcoin-backed (wBTC) deposits also pay out an additional 4.59%, while Ether (ETH) deposits provide a 2.11% bonus.
However, it seems that the most rewarding will go to stablecoin borrowers, who currently receive bonuses from 5.15% to 22.05%.
The liquidity program was approved on Saturday through a management vote, which by July 15 will be distributed 2200 Aave (stkAAVE) to lenders and borrowers in the amount of around $ 880,000 at current prices. The program will be revised in July.
More than two-thirds of the bonuses were shared between the US Dollar (USDC) and Tether (USDT) foreign exchange markets, while the remaining 32.5% were shared between Aave Dai, ETH, wBTC and Gemini Dollar (GUSD). Mann Aave:
“AIP 16 increases the liquidity of the Aave ecosystem reserve, which can be used to fund grants, developers and builders through a community-led grant program.”
Aave said he wants to reward more stable tokens to counteract risky loans and increase the liquidity of stable coins.
Since almost 40% of TVL Aave is still locked in iteration 1, the v2 rewards campaign also aims to move users to the updated protocol. “By offering only bonuses for mining on Aave v2, liquidity providers and borrowers will naturally switch to the optimal version,” said Aave.
The program follows the success of liquidity mining bonuses that encourage users to explore the deployment of Aave in its second-level expansion solution, Polygon (formerly known as Matic). Sunday’s tweet indicated that the launch of Aave Polygon exceeded $ 1 billion in TVL and 7,200 users within ten days of launch.
According to the DeFi Llama, Aave is currently the sixth largest DeFi protocol with TVL, with approximately $ 7.5 billion in revenue.