OP Summer is coming? These projects have started mining and will reward users with tens of millions of Optimism tokens
Optimism's economic model incorporates retroactive funding of public goods. Project parties may submit proposals for funding from the Optimism Collective. According to snapshot voting records, there are currently more than 50 applications for projects, and a single project that has passed the application has received funding ranging from 300,000 to 10 million OP.
Recently, project parties that have received retroactive funding from public products have begun to feed back the Optimism ecosystem and start mining to obtain OP token rewards. This article PANews will introduce the projects and activities that have taken the lead in opening OP mining rewards.
Aave: Liquidity mining distributes 5 million OP
Aave is an open-source, non-custodial decentralized crypto asset lending protocol where users can participate as depositors or borrowers. Savers provide liquidity to the market to earn passive income, while borrowers are able to borrow in overcollateralized (perpetual) or undercollateralized (single block liquidity).
Aave officially announced on August 5, Beijing time, that Aave V3 will launch Optimism liquidity mining. The plan will last for 90 days and will distribute 5 million OP to Optimism market users of the Aave protocol. Users can currently mine with ETH, USDC, USDT and other assets, and the current annualized rate of return is 4%-6%.
Official website: https://app.aave.com/
WePiggy: Divide 240,000 OP and 75 million WPC
WePiggy is an open source, non-custodial crypto asset lending protocol. In WePiggy's market, users can deposit specific crypto assets to earn interest, or pay a certain interest to borrow certain crypto assets. Compared with pioneers such as Compound and Aave, WePiggy actively creates a richer lending market, optimizes the execution efficiency of smart contracts, and even expands more dimensions of business logic on the premise of prioritizing capital security.
WePiggy officially launched the LockDrop event at 16:00 on August 3rd, Beijing time. Users can deposit pUSDC obtained by staking USDC into one or more WePiggy LockDrop pools to get $OP and $WPC rewards.
The pUSDC lock-up period is divided into 30 days, 90 days and 180 days. The total reward includes 240,000 OP and 75 million WPC. The current annualized rate of return ranges from 24% to 50%. Users can receive OP rewards at any time.
The longer the lock-up period is, the higher the distribution rate of OP token incentives, as follows:
Official website: https://wepiggy.community/lock
Lyra: Provide liquidity to share 37500 OP
Lyra is an options trading AMM protocol that allows traders to buy and sell options on cryptocurrencies against liquidity pools. Liquidity Providers (LPs) deposit liquidity into the treasury to earn fees paid when trading options. LPs traders use Lyra to trade options. They can buy options from market maker vaults or sell options to MMV. On July 27, 2021, Lyra raised $3.3 million in seed funding, led by venture capital firms Framework Ventures and ParaFi capital.
Lyra opened the liquidity provision of Market-Maker Vault at 9:00 on August 3rd, Beijing time, to provide users with 37,500 OP tokens. The current annualized rate of return is 18.3%. Users can receive OP rewards every 14 days.
The amount of OP rewards that liquidity providers receive depends on their sUSD share in the pool. If a user pledges stkLyra obtained by Lyra tokens, holding stkLyra can increase the user's mining weight, and the upper limit of the increase is 2 times the share of sUSD in the mining pool.
Official website: https://app.lyra.finance/stake
Thalesmarket: Divide 650,000 OP from multiple events
Thalesmarket is a binary options market. Not only does the Thales protocol allow users to participate in the market for different crypto assets, it also continues to innovate by offering community-based games like Thales Royale and more advanced trading products like Ranged Markets. Traders can use Exotic Markets to participate in custom markets and predict real-world events in a censorship-resistant manner. On July 13, 2021, it received $2.5 million in financing from several investment institutions such as Framework Ventures and IOSG.
Thalesmarket released 3 events that can earn 650,000 OP on July 27, Beijing time.
Activity 1: Gamified THALES staking
The event started on July 27th, Beijing time, and distributed 135,000 OP and 90,000 THALES tokens to users of protocol products on a weekly basis for at least 10 weeks. Participation conditions:
1) Staking thales tokens
2) Use products built on the Thales protocol on a weekly basis (including Thales markets, Ranged markets, Exotic and Overtime markets)
3) Rewards are withdrawn in weekly units, otherwise they will be confiscated
Activity 2: AMM Trading
The event started on July 27th, Beijing time, and distributed 200,000 OP and 350,000 THALES tokens to AMM product users (including UP, DOWN, IN and OUT) in 14 days and 14 weeks.
Of which 11000 OP + 20,000 THALES are distributed to all UP token buyers in sUSD in every 14-day round of Thales Markets; 11000 OP + 20000 THALES are allocated to all DOWN token buyers in sUSD; 6000 OP + 10000 THALES distributed to all Ranged Markets IN/OUT token purchasers in sUSD.
Activity 3: THALES/WETH Liquidity Providers
The event started on July 15th, Beijing time, and distributed 315,000 OP and 900,000 THALES tokens to THALES/WETH liquidity providers in a linear and proportional manner on a weekly basis for 20 weeks.
Official website: https://thalesmarket.io/op-rewards
Perpetual: 5.2 million OP allocated for liquidity mining
Perpetual is a decentralized derivatives protocol, released on July 14th, Beijing time to provide liquidity to earn PERP+OP tokens. 5.2 million OP will be allocated on a weekly basis, and each LP pool will be allocated 5,000 OP per week (the number of rewards will be updated according to market conditions). Users need to claim OP rewards every Monday.
Official website: https://app.perp.com/
PoolTogether: Mining to share 450,000 OP
PoolTogether is a no-loss lottery protocol that launched on July 27th for users to mine 450,000 OP tokens. The activity is divided into two phases:
In the first stage, 100,000 OPs are distributed at a rate of 25,000 OPs per week.
Phase 2 OP rewards will be unlocked if the protocol reaches its goal of $20 million and 10,000 unique depositors.
Official website: https://app.pooltogether.com/
velodrome: Mining to share 75,000 OP
velodrome is an AMM protocol based on the Solidly model in the Optimism ecosystem. According to the official Twitter information, users who lock at least 10,000 veVELO every week before the next epoch are eligible to receive 75,000 OP rewards proportionally. At the same time, velodrome will launch other mining reward OP activities at any time, and users can pay close attention to the official Twitter.
Official website: https://app.velodrome.finance/
Rubicon: Liquidity mining allocates 540,000 OP
rubicon is a decentralized order book protocol, which started the OP incentive activity on July 16, and a total of 540,000 OPs were distributed to Rubicon liquidity providers with an antenna of 209.875.
Official website: https://app.rubicon.finance/pools
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