DeFi protocol, Fluidity, will launch on the Ethereum mainnet on December 19. Initial deployment of Fluidity will occur on Ethereum, with further deployments occurring on Solana, Arbitrum, and Polygon. Game designer Shahmeer Chaudry conceived and developed Fluidity in 2021, and it has since earned $1.3 million in seed funding from investors like Multicoin Capital, Solana, Circle, and Lemniscap.
Fluidity is a spend-to-earn protocol that flips the conventional yield-bearing DeFi model on its head. Furthermore, its developers say that the protocol is built on a secure, audited system. Users receive yields and big dividends ranging from cents to millions merely for sending, receiving, or exchanging a Fluid-wrapped asset. Consequently, that eliminates the need to lend, stake, or lock up digital assets for an extended period to earn yield.
Fluidity Founder Shahmeer Chaudhry says: “At Fluidity, we want to gamify how people think about spending money, and our long-term goal is to re-shape how people approach spending.”
The incentive layer of the blockchain is a platform where users can earn rewards for swapping, trading, or otherwise transacting on the blockchain using assets wrapped in Fluid. It is a rapidly expanding protocol that has been live on both the Solana devnet beta and the Ethereum testnet. Already, 50,000 users (dubbed “Fluiders”) have put the system through its paces by trading and transacting.
Wrapped assets issued by Fluidity (Fluid Assets) are stablecoins that may be redeemed at any moment for their underlying currency on a ratio of 1:1. All principal token deposits and loans made through the money market contribute to the yield that the protocol uses to distribute dividends. Based on this criteria, between 50% and 70% of all transactions will provide a return, with benefits distributed 80/20 between senders and recipients, the latter of which can include service providers.
This post was last modified on Dec 16, 2022, 17:40 GMT 17:40