Today in DeFi - New AMPL Geysers, Mooniswap Liquidity Mining, YieldSpace DEX
New AMPL Geysers
Ampleforth has just announced new geysers. This time, using Mooniswap, instead of Uniswap. Since Mooniswap reduces Impermanent Loss for LPs, this may turn out to be better for LPs than the previous Uniswap-based Geyser program.
However, LPs should be aware that the rebase mechanism adds complexity to the risk/reward of supplying liquidity in AMM-based DEXes. We recommend LPs do their own research, and consider supplying a small amount of liquidity as a test,while tracking returns, before putting in more significant liquidity.
Mooniswap Liquidity Mining
1Inch.exchange has just announced 1Inch token, as well as a liquidity mining program for Mooniswap.
The 1Inch token will be a utility token with governance properties. 1inch says it is for:
Ensuring a permissionless fashion of interaction with the protocols;
Securing funds for further ecosystem development;
Incentivizing participation in potential governance of specific network functionalities;
Staking for the network security.
2% of the token is reserved for pre-launch mining across the following pools:
ETH-USDC,Β ETH-DAI,Β ETH-LINK,Β ETH-SRM,Β ETH-USDT,Β ETH-WBTC,Β ETH-AMPL,Β ETH-renBTC,Β ETH-sBTC,Β ETH-LEND,Β ETH-SNX,Β ETH-sUSD,Β ETH-YFI,Β ETH-CRV,Β ETH-GNO,Β ETH-MTA,Β ETH-REN,Β ETH-MKR,Β ETH-KNC,Β ETH-sETH,Β ETH-yCurve,Β ETH-AKRO,Β ETH-wNXM,Β USDT-USDC,Β USDC-wNXM,Β DAI-USDC,Β DAI-USDT,Β DAI-sUSD,Β DAI-yCurve,Β ETH-BZRX,Β AKRO-USDC,Β ETH-CHI,Β USDC-CHI.
The launch date has not been announced yet. Find out more in the official announcement.
YieldSpace DEX
Yield Protocol, a fixed-interest DeFi protocol, has just announced YieldSpace, an AMM DEX for its yDAI product.
yDAI is a fixed-interest version of DAI. Users can lock up ETH to generate yDAI, similar to how they generate DAI today. However yDAI will have a fixed interest rate, rather than a variable interest rate subject to the whims of MakerDAO Governance.
Fixed-interest loans create new opportunities in DeFi, as it eliminates interest rate risk, and also creates a fixed-income market.
Because of the specialized nature of yDAI, Yield Protocol decided to create its own AMM for the yDAI/DAI market. Read about YieldSpace here, and learn more about yDAI in their Medium post .