In Brief:
- The Avalanche also includes the largest DeFi protocols Aave and Curve
- The exact date of the launch of the program is expected to be declared soon
Decentralized Finance (DeFi) SushiSwap is to join Avalanche Foundation for an incentive program.
The Foundation announced it would launch a joint incentive program with a combined allocation of $15 million to incorporate Sushi. Sushi is one of the largest DeFi applications by Total value locked (TVL) and Trading volume.
The upcoming deployment of both will provide DeFi traders access to products with high-yield farming rewards and near-instant finality. This announcement of Trident, which the Sushi described as next-generation Automated Market Maker or AMM. It will provide the Avalanche Ecosystem with existing new features and abilities to maximize yield and efficiency.
The Avalanche Foundation and Sushi have each allocated upto $7.5 million of liquidity mining incentives over 3-month period for integration. These will take the form of AVAX and Sushi rewards, split evenly. The exact date of the launch of the program is expected to be declared soon.
In only 1 year since its launch, SushiSwap has solidified itself as a DeFi Blue chip, surpassing over $5B in asset growth. It’s highly focuses on multichain strategy has brought accessibility to $SUSHI incentives to wide range of blockchain audiences. The Sushi decentralized exchange has integration with multiple blockchains.
“The Avalanche community is one of the most compelling reasons to align incentives with Avalanche chain. We are community-driven platform and admire the community focus in the Avalanche ecosystem and look forward to providing them with a positive DeFi experience,” Sushi Lead Contributor, 0xMaki.
“Combining Sushi’s community-driven protocol with Avalanche’s high-performance capabilities will enhance the overall experience for DeFi users across the ecosystem.” – Emin Gun Sirer, Director at the Avalanche Foundation.
Avalanche announced last week the introduction of the mining incentive program Avalanche Rush. Avalanche Rush includes Aave and Curve the two largest DeFi protocols. The Avalanche Foundation allocated upto $20M AVAX for Aave and $7M AVAX for curve users.
