The smart contracts platform, Avalanche announced a $ 180 million liquidity incentive program called the Avalanche Rush. The program is said to encourage more applications and tokens to come to Avalanche’s DeFi platform.
A multi-phase rollout is expected to follow, starting with the Aave and Curve protocols, before expanding to other assets in the coming months. For this first phase, Avalanche will allocate up to 20 million or 7 million AVAX tokens for Aave and Curve over a period of 3 months. At the same time, the Avalanche Foundation will sponsor the introduction of the DeFi protocol, Benqi, native to the Avalanche network with an assignment of $ 3 million from 08/19
The message from the rush program comes after that the re-release of Avalanche Bridge, an improved version of the project’s previous inter-chain bridge tool that is apparently five times cheaper, faster, and more secure than before.
A portion of the funds allocated to the Rush Initiative will be reserved for current and future Avalanche Native applications, and more information on how to apply for Native Incentives will follow shortly.
Stani Kulechov, Aave Companies Founder said of the program:
“The Avalanche Consensus is well suited for developing DeFi applications because of its scalability characteristics, particularly its high performance and near instant finality.”