According to the grant proposal, the 1 million OP tokens currently worth $850,000 will be distributed over 20 weeks on Curve. This means 50,000These tokens will serve as incentives to liquidity providers on gauged Curve pools on Optimism. Gauged pools on Curve receive token emissions on a weekly basis. These pools are decided by a weekly on-chain DAO vote on Curve.
There are currently three gauged Curve pools on Optimism: sUSD, sETH, and sBTC. These three pools will be the recipient of the weekly 50,000 OP tokens emissions but the number is expected to increase over time, per the announcement. According to the proposal, the grant will help to incentivize liquidity on Optimism via Curve-based emissions. These rewards could help to attract more LPs to seed their liquidity to Optimism pools thus expanding the Layer 2 network’s decentralized finance footprint.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Osato is a reporter at The Block who likes to cover DeFi, NFTS, and tech-related stories. He has previously worked as a reporter for Cointelegraph. Based in Lagos, Nigeria, he enjoys crosswords, poker, and attempting to beat his Scrabble high score.
Is this news? So many other protocols have applied for grants as well and at bigger sizes
Ecosystem picking up.