The smart contract platform Avalanche has announced a $ 180 million liquidity incentive program called Avalanche Rush. According to the press release, the program is intended to encourage more applications and tokens to switch to Avalanche’s decentralized financial platform (DeFi).
It is slated to follow a tiered deployment starting with the Aave and Curve protocols before rolling out to other assets in the coming months. For this first phase, Avalanche will allocate up to $ 20 million AVAX tokens for Aave and $ 7 million AVAX tokens for Curve over a period of 3 months. At the same time, the Avalanche Foundation will be from 19
The news on the Rush program follows the re-release of the Avalanche Bridge – an updated version of the project’s previous cross-chain bridging tool that is reportedly 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 native avalanche applications. More information on applying for native incentives will follow shortly.
Aave Companies founder Stani Kulechov said of the program:
“The avalanche consensus is well suited to building DeFi applications because of its scalability features, particularly its high throughput and almost instant finality.”