• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Regulation
    • Scams
  • DeFi
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Market Cap
  • Shop
Facebook Twitter Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
Facebook Twitter Instagram
CM247
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • Regulation
    • Scams
  • DeFi

    Decentralized exchange volumes slump for six months to lowest levels since January 2021

    2023-10-02

    OKX Wallet Integrates LI.FI Protocol, Simplifying Cross-Blockchain Asset Transfers

    2023-10-02

    Friend.Tech protocol Revenue Crosses A Massive 10,000 ETH, What’s Next?

    2023-10-02

    The Leading 5 Defi Categories Overseeing Billions: An October 2023 Snapshot

    2023-10-02

    Sui TVL Soars To $36.82M, Turbos Finance Leads Explosive Growth

    2023-10-01
  • NFT

    Animoca Brands to Create Web3 Digital ID System

    2023-09-12

    Generative AI Could Make Government Mechanism Less Annoying

    2023-09-12

    Hundreds of Nouns Holders Rally to Exit DAO, Leading to Treasury Split

    2023-09-11

    Krista Kim Explores Spirituality, Art, and Podcast Tokenization at The Gateway: Korea

    2023-09-09

    Exploring Communion In Collaboration with AI

    2023-09-09
  • Metaverse

    Mark Zuckerberg’s Vision for Remote Work: Meta’s Headsets and the Future of Work

    2023-10-01

    Meta Unveils Next-Gen AI Tools and Digital Companions for the Metaverse

    2023-09-28

    Valentino Rossi Steps into The Sandbox with ValeVerse

    2023-09-27

    Opportunities for Artists and Creators at Decentraland Music Festival 2023

    2023-09-26

    Hitachi Leverages Metaverse and VR for Next-Generation Workforce Training

    2023-09-25
  • Analysis

    XRP Price Topside Bias Vulnerable Unless It Climbs Above $0.50

    2023-06-29

    Crypto Analyst Issues Bitcoin Warning, Says It May Be Time for BTC Pullback After 25% Rally

    2023-06-29

    Bitcoin Price Needs To Clear $31K For Hopes of a Fresh Rally

    2023-06-28

    Analyst Predicts Rallies for Chainlink, Updates Outlook on Polygon, Floki and One Additional Altcoin

    2023-06-28

    BNB Market Cap Down By 25% In June Amidst Binance Regulatory Pressure

    2023-06-28
  • Learn

    What Is Toncoin (TON)? Everything You Need To Know

    2023-09-28

    Who Is Satoshi Nakamoto? Mysterious Bitcoin Founder

    2023-09-25

    What is NBA Top Shot? A Beginner’s Guide

    2023-09-22

    What Are Bridges in Crypto? Cross-Chain Bridges, Explained – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    2023-09-21

    SingularityNET (AGIX) Price Prediction 2023 2024 2025

    2023-09-18
  • Market Cap
  • Shop
CM247
Home»Analysis»Ethereum Users Flock to Optimism for Aave Liquidity Mining Launch
Analysis

Ethereum Users Flock to Optimism for Aave Liquidity Mining Launch

2022-08-18No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email
coin-mama

Key Takeaways

  • OP token liquidity mining is now lively on the Optimism model of Aave.
  • Because the replace went dwell, deposits to Aave on Optimism have elevated 493%.
  • The liquidity mining program has additionally helped push Optimism’s complete worth locked as much as over $1.5 billion.

Share this text

A brand new liquidity mining program on Aave has helped push the whole worth locked in Optimism above $1.5 billion. 

Optimism Launches Liquidity Mining on Aave 

Optimism has launched one other spherical of token rewards.

The Ethereum Layer 2 community announced the beginning of its newest liquidity mining program Thursday, a part of what the chain is looking “OP Summer time.” The challenge has allotted 5 million OP tokens to DeFi lending large Aave for distribution to its customers over the subsequent 90 days. 

Because the replace went dwell, customers have bridged lots of of tens of millions of {dollars} of tokens to Optimism and deposited them into Aave to earn further OP tokens. Based on data from Defi Llama, Aave deposits on the Layer 2 community have elevated 493% over the previous 24 hours. At press time, Aave V3 on Optimism has just below $420 million value of belongings locked in its good contracts. 

Whereas the Aave liquidity mining program is the biggest on Optimism to this point, it isn’t the primary. Because the Ethereum rollup launched its native OP governance token in Might, a number of different protocols have begun distributing incentives. Amongst them are the automated market maker Velodrome, the decentralized swaps app Perpetual Protocol, and the sports activities betting app Additional time Markets. 

Because of its OP token incentives, Optimism has considerably elevated its person base and the whole worth of belongings locked in good contracts on the chain. Based on L2Beat data, the community’s complete worth locked, excluding its native OP token, has increased 63% for the reason that OP token launched on Might 31. Extra just lately, the beginning of Aave liquidity mining has pushed the whole worth locked up an extra 27%. Optimism at the moment holds roughly $1.51 billion in complete worth locked, trailing solely Arbitrum’s $2.48 billion within the Layer 2 race. 

Optimism complete worth locked (Supply: L2Beat)

Optimism is among the main Layer 2 initiatives working to scale Ethereum. It makes use of Optimistic Rollups to bundle transactions collectively and ship them again to Ethereum mainnet for affirmation. Rollups like Optimism supply customers substantial fuel financial savings in comparison with transacting on mainnet. For instance, L2 Fees data reveals that the present price to swap tokens on Optimism prices $0.36 in comparison with $6.49 on Ethereum. 

Disclosure: On the time of scripting this piece, the writer owned ETH and a number of other different cryptocurrencies. 

Share this text



Source link

coin-mama
Aave Ethereum Flock Launch liquidity mining Optimism Users
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Will Ethereum Flip Bitcoin? Crypto Analyst Explains How

2023-10-02

Under-the-Radar DeFi Altcoin Surges by 22% on Friday Amid the Rollout of New Mining Rewards

2023-09-30

Global Investment Manager VanEck To Launch Ethereum (ETH) Futures Exchange-Traded Fund

2023-09-29

This $3 billion layer-2 treasury is 6x richer than Ethereum Foundation

2023-09-28
Add A Comment

Leave A Reply Cancel Reply

Top Posts
DeFi

This project aims to revolutionize DeFi on Bitcoin

2023-03-03

Bitcoin (BTC), the unique cryptocurrency with the most important market cap, continues to steer the…

NFT

SYKY Debuts Luxury Fashion Incubator for Digital Designers

2023-04-11

Right this moment, we deliver you nft now’s first Runway unique. We have been fortunate…

DeFi

Yield platform Stablegains sued for promoting UST as a ‘safe’ investment

2023-02-20

Decentralized finance yield platform Stablegains has been sued in a Californian courtroom for allegedly deceptive…

Subscribe to Updates

Get the latest news and Update from CM247 about Crypto, Metaverse and NFT.

About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, NFT, Metaverse and more.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Popular Post

Rishi Sunak Is the U.K.’s New Prime Minister. Here’s What He Thinks of Crypto

2022-10-24

BTC enters another phase of low volatility; here’s what investors should expect

2022-11-17

Collapse of Terra blockchain ecosystem forces talent migration

2022-09-14

Subscribe to Updates

Get the latest news and Update from CM247 about Crypto, Metaverse and NFT.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
© 2023 cryptocurrencymedia247.com. Designed by ProdigitalX.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$20,168.002.51%
  • ethereumEthereum(ETH)$1,532.186.43%
  • tetherTether(USDT)$1.00-0.02%
  • usd-coinUSD Coin(USDC)$1.00-0.09%
  • binancecoinBNB(BNB)$286.102.95%
  • TerraTerra(LUNA)$88.14-1.01%
  • Binance USDBinance USD(BUSD)$1.00-0.14%
  • rippleXRP(XRP)$0.3315312.89%
  • cardanoCardano(ADA)$0.4480674.29%
  • SolanaSolana(SOL)$32.015.40%