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In addition to running a validator node on Fuse, MANTRA DAO will launch an OM/USDC pool on FuseSwap, providing the initial liquidity and OM token rewards.
- Program Starting: Saturday 6th March at 3 pm UTC.
- Duration: 1-month.
- Swapping Pair: OM/USD.
- Total Rewards for LPs: 35,000 FUSE.
- DEX: FuseSwap
- Platform: Fuse Network.
Less than a year after their breakout, decentralized finance (DeFi) protocols have become arguably the hottest part of the crypto space. However, despite the rapidly growing value of assets deposited into it, access to DeFi is still limited, especially given the high fees on Ethereum and the steep learning curve involved in using the various existing protocols for less tech-savvy users. Fuse Network’s mission is to make DeFi tools and advantages available to everyone.
Fuse’s native DEX, FuseSwap, is the cornerstone of our platform’s expansion to the DeFi space. Our main objective at this stage of its development is boosting trading volume and available liquidity, which is why we are thrilled to be partnering MANTRA DAO to launch a liquidity program on Fuseswap.
A DAO for DeFi
MANTRA DAO is a project whose vision is closely aligned with that of Fuse. It is a community-governed DeFi protocol that strives to enable popular access to decentralized staking, lending, borrowing, and other financial services. As a decentralized autonomous organization (DAO), the protocol is fully governed by the holders of its native OM token.
MANTRA DAO is a multi-chain and multi-asset platform that is currently building on Parity Substrate for the Polkadot ecosystem. True to Polkadot’s spirit of blockchain interoperability, the services offered by MANTRA DAO span multiple blockchains and ecosystems.
MANTRA DAO Launches Liquidity Pool and Rewards on FuseSwap
Fuse has already been collaborating with MANTRA DAO for some time, with the latter being one of the first validators on Fuse Network. We are happy to announce that we are taking the partnership to the next level, with a focus on bringing the OM token to FuseSwap.
As part of this continued collaboration MANTRA DAO will launch an OM/USDC trading pool on FuseSwap. MANTRA DAO is also contributing $25,000 worth of USDC and OM tokens to the pool to form the initial liquidity and jumpstart trading.
Fuse will, in turn, run a liquidity rewards program for the pool, launching on Saturday 6th March at 3 pm UTC. As part of the program, users who provide additional liquidity to the pool will take part in their share of 35,000 FUSE tokens distributed proportionally based on how much is contributed to the pool.
At a later date, Fuse and MANTRA DAO are planning to conduct a dual reward liquidity mining program in which liquidity providers will be eligible to payouts in both FUSE and OM tokens. Stay tuned for our future announcements.
About MANTRA DAO
MANTRA DAO is a community-governed DeFi platform focused on Staking, Lending, and Governance. The platform leverages the wisdom of the crowd to create a transparent, and decentralized ecosystem for web 3.0. Built on Parity Substrate for the Polkadot ecosystem. MANTRA DAO gives financial control back to the people to grow wealth together.
We are very excited by the strategic collaboration with one of the leading DeFi projects, and we hope that it will further cement Fuse’s position in the space.
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