By staking SLND/USDC LP tokens, users can get dual rewards in $SLND and $SRM tokens.
Atrix X Solend: Powering Liquidity
Atrix partnered with Solend Protocol to power $SLND liquidity on Serum, allowing users to stake their SLND-USDC Atrix LP tokens.
According to the announcement on Twitter, starting from April 23, 03:00 UTC, users can stake the LP tokens and get dual rewards in the form of $SLND and $SRM tokens. However, to earn SLND-USDC LP tokens, users must contribute SLND and USDC to the SLND/USDC liquidity vault on Atrix. https://cdn.embedly.com/widgets/media.html?type=text%2Fhtml&key=96f1f04c5f4143bcb0f2e68c87d65feb&schema=twitter&url=https%3A//twitter.com/atrixprotocol/status/1517643263041318914&image=https%3A//abs.twimg.com/errors/logo46x38.png
Currently, the total liquidity on the Atrix platform exceeds $355M with 70.7B+ transactions. Regarding the recent SLND/USDC vault, the total liquidity crossed $2.5M at a staking APY of 14%.
Last November, Atrix announced its liquidity mining program, powered by a 1M $SRM grant from the Serum DAO. Atrix Automated Market Maker(AMM) delivers liquidity to Serum markets without requiring any internal pools, generating value for the entire Solana ecosystem. In addition, Atrix has recently launched the Atrix Launchpad to enable projects to raise funds with an IDO, build strong liquidity, and grow their communities.
On the other hand, Solend, the leading lending and borrowing protocol on Solana, has unveiled several updates over the past few months. These include launching NFT lending in partnership with MonkeDAO and Solvent, the launch of the cToken pool with Saber, and the launch of the Coin98 isolated pool. Check out this project insight by Abhinav Tiwari from Web3 Wire to learn more about Solend Protocol.
What is Solend:
Solend is an algorithmic, decentralized lending and borrowing protocol on Solana. Lending and borrowing have proven to be critical in a DeFi ecosystem. Current products, on the other hand, are slow and expensive. According to the Solend docs, Solend can scale 100x faster and 100x cheaper on Solana. In addition, Solend strives to be the most user-friendly and secure solution on Solana.
You can use Solend to:
Earn interest
Borrow
Long-term leverage
Short
Learn more about Solend:
What is Atrix:
Atrium is an AMM built on Solana that uses Serum’s Order Books and allows for permissionless liquidity pools and farm creation. According to the docs, Atrix facilitates swapping, adding liquidity to Serum, and interacting with farms for users.
Currently, Atrix is a project with the following primary products:
AMM DEX: Utilizes the Order-book mechanism of the Serum to swap tokens.
Liquidity Pools: Create liquidity for Serum.
Yield Farms: Facilitate user participation in farming.
Learn more about Atrix:
Source : web3wire.news
