Synthetix, a pioneer in decentralized finance (DeFi), has announced a significant expansion of its operations on the Arbitrum network. This move is part of the Arbitrum Liquidity Incentive Program (LT), aimed at enhancing liquidity and trading activities on the platform.
The initiative, which will for 12 weeks until September 3rd, is supported by an allocation of 2 ARB tokens. Its goal is to boost liquidity provision, promote stablecoin adoption, optimize the Perpetual Contracts (Perps) trading environment on the Arbitrum network.
thetix is renowned for its decentralized derivatives infrastructure and supports over 80 derivative markets its Synthetix Perps system.
The distribution plan for the ARB reward been approved by arbitration governance and promises an engaging growth experience within the Arbitrum ecosystem. Out the 2 million ARB tokens, 1 million will be designated for liquidity provider incentives to encourage active trading. Additionally, are 900,000 ARB tokens assigned to fee rebates (up to75% of fees paid on the platform) for active traders. The remaining 100,000 ARB tokens will support stablecoin liquidity as a crucial component of sustainable financial model in DeFi.
Participants in this program have several options to get involved in equally beneficial activities. Liquidity providers can contribute eligible assets as USDC, ETH, ARB, and soon-to-be-launched EthenaDe to Synthetix Liquidity pools. There will also be an opportunity to supply liquidity to USDx/USDC pools on Ramses, a prominent decentralized exchange on Arbitrum.
Ramses will soon provide more details about these pools as well as launch partner programs for perpetual derivatives traders who wish to earn fee rebate rewards through supported integrators promoting participation and volume growth.
Tags:
ARB
DeFi
SNX