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2022-08-12


Countdown to Yield+ Incentive Program Launch

countdown-to-yield-incentive-program-launch

Months of dedicated work, from the research and proposal, to the publishing of the Blue Paper, and now finally the completion of the final product, has shocked many by the speed at which the Yield+ Incentive Program has been delivered.

“The launch of the Yield+ Incentive program marks a major milestone that increases opportunities for dApp developers to be rewarded, and EOS users to earn yield on the EOS mainnet. A method that directly measures and rewards increased economic activity on EOS can attract and retain interest in the entire ecosystem, and the Yield+ team is about to deliver on that goal!” - EOS Network Foundation

This program began as a EOS Network Foundation (ENF) sponsored Working Group consisting of EOS Nation, Greymass, UX Network, Defibox, Joe Louis, Pizza DeFi, and EOS Asia. This group’s main goal has been to improve the EOS DeFi ecosystem by finding ways to increase EOS’ on-chain Total Value Locked (TVL), and creating multiple on-chain opportunities for generating yield.

Yield+ Incentive Program is the end result of those efforts, which through liquidity and rewards incentives will incentivize economic growth for EOS. DeFi protocols (dApps) are incentivized to provide liquidity to the EOS network by locking up their tokens to earn daily rewards at a proposed rate of 5% (annualized).

The launch phase of the program will support EOS and USDT as the only tokens considered for total value locked (TVL) calculations.

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Following its successful code audit by Sentnl, a blockchain security audits company, the program has been given the green light to launch.

From August 14, there will be a two-week registration period for DeFi protocols (dApps) that wish to participate in EOS liquidity provision, after which, on August 28, daily rewards will begin for all the DeFi protocols that meet the minimum TVL requirements.

To participate in Yield+ (stage 1) and earn rewards, all DeFi protocols must:

  • Demonstrate a minimum 200k EOS TVL (24 hour average)

  • Only EOS and USDT are eligible

  • USDT is calculated in the EOS equivalent value

The following smart contracts, all of which have passed code audits by Sentnl, will be deployed and operated by the Yield+ team.

  • Yield+ Rewards (eosio.yield): Rewards system that incentivizes DeFi protocols to retain long-term TVL within their application.

  • Yield+ Oracle (oracle.yield): System will be supporting Yield+ Rewards to provide reliable TVL data metrics of DeFi protocols and leveraging decentralized data price feeds from existing oracle providers on EOS mainnet.

  • Yield+ Admin (admin.yield): Admin account for Yield+ on-notification events

To find out more about the program check out the official announcement by the EOS Network Foundation - Launch of the Yield+ Incentive Program Is Imminent


Sources

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