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The third edition of the Rainmaker liquidity rewards program on Fuse Lending Network launches today, October 14, 2021, rewarding lenders and borrowers with 150,000 FUSE over 45 days.
Blockchain: Fuse Network
Platform: Fuse Lending Network
Program Start: Thursday, October 14, 2021 at 18:00 UTC
Program duration: 45 days
Total rewards: 150,000 FUSE (70% allocated to borrowers)
Decentralized lending is a cornerstone of the DeFi industry that Fuse is aiming at democratizing and broadening access to. Fuse Lending Network developed in collaboration with Ola Finance is the first decentralized lending network on top of Fuse.
Fuse Lending Network enables users to lend or borrow in five supported crypto assets: wrapped BTC (WBTC), wrapped Ether (WETH), USDC, FuseDollar (fUSD) and FUSE. Users wishing to borrow need to supply an amount of collateral in excess of the loan, first. The minimum collateral ratio depends on the collateral asset. More information on how Fuse Lending Network works is available here.
To incentivize participation on Fuse Lending Network, we have already conducted two editions of the Rainmaker liquidity rewards program. Today, it is time to announce the program’s third edition that starts today, October 14, 2021 at 18:00 UTC and will last for 45 days.
A total of 150,000 FUSE in rewards will be allocated to all the public addresses active on the network during the duration of the program. This time, to bolster participation on the borrow side, 70% of the Rainmaker rewards will be allocated to the borrowers.
In order to be eligible for rewards under the program, users just need to lend or borrow funds on Fuse Lending Network, or both. The rewards will be automatically allocated to the participating addresses. Video tutorials on how to supply and borrow assets are available here and here.
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