Avalanche is launching a brand new liquidity mining program. The program “Avalanche Rush” aims to incentivize users and developers to use the blockchain.
To achieve this goal, large DeFi protocols have already agreed to be among the first to participate in the program. Among others, AAVE, Curve, BENQI, and Stake DAO have already decided to deploy their protocols on Avalance!
The Foundation is willing to put $180 million in incentives to bring more users to the Avalanche chain.
For the first phase of the incentive program, $30 million in AVAX will go to three protocols: Aave, Curve, and BENQI.
Therefore, the Avalanche Foundation has allocated $20 million worth of AVAX for Aave users. In addition, $7 million will incentive Curve users.
The Foundation will distribute the remaining funds of the $180 million in future phases of the liquidity mining program.
“This is an allocation for effectively a fund that will be disbursed over time, not all of that amount has been allocated. This is really our effort to showcase what Avalanche can do as a Layer 1 technology and bring over some of the largest protocols that exist.”Luigi D’Onorio DeMeo, a director at Ava Labs