KEY TAKEAWAYS
- Taiko has launched Curve-Lite, enabling permissionless deployment of Curve liquidity pools, attracting nearly $1 million in TVL.
- Taiko’s incentives program offers $50,000 in $TAIKO tokens initially, with additional rewards at TVL milestones up to $60 million.
- Bridging assets from Ethereum to Taiko is streamlined, taking 15 minutes, thanks to zero-knowledge proofs.
- This initiative aims to boost user engagement and expand Taiko’s presence in the DeFi ecosystem.
At the end of November 2024, Taiko became the first blockchain to implement Curve-Lite, Curve’s express deployment of a full decentralized exchange (DEX) instance. This development has allowed for the permissionless deployment of Curve liquidity pools on Taiko, attracting nearly one million dollars in total value locked (TVL) without any incentives.
To capitalize on the potential of the rollup-based decentralized finance (DeFi) ecosystem, Taiko has introduced strategic incentives to attract and retain more users. The initiative was announced here on Curve’s governance forum.
Incentives Program Details
Taiko’s incentives program begins with an initial allocation of $50,000 in $TAIKO tokens upon deployment. An additional $50,000 in $TAIKO will be unlocked at progressive TVL milestones, starting at $8 million and continuing at $15 million, $22 million, $30 million, $35 million, $42 million, $50 million, $55 million, and $60 million. The reward incentives program is planned to run for 16 weeks, depending on the milestones achieved.
Curve has developed an infrastructure to enable the permissionless distribution of rewards. Over the first two weeks, $TAIKO rewards will gradually scale and are expected to stabilize after approximately three weeks. Users who add liquidity to the pools and stake their LP tokens in the corresponding gauge can access these incentives. This process can be completed in a single step using the “Deposit & Stake” tab on the Curve user interface.
Bridging and Pool Participation
Bridging assets from Ethereum to Taiko is facilitated through the official bridge, which supports all assets eligible for the incentivized liquidity pools. The bridging process to Taiko takes approximately 15 minutes, while returning assets takes around 4 hours, significantly shorter than the standard 7 days, due to the use of zero-knowledge proofs.
Incentive distribution will commence with specific pools, though these may be adjusted over time. This strategic move by Taiko aims to enhance user engagement and expand its presence within the DeFi ecosystem.
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