Fluidity, a DeFi protocol, will be available on the Ethereum mainnet on December 19th. The fluid-wrapped asset on-chain transaction incentive layer will launch first on Ethereum, followed by Solana, Arbitrum, and Polygon. In addition, this layer rewards users in exchange for exchanging, trading Fluid-wrapped assets, or performing any operations on the chain.
What is Fluidity?
Shahmeer Chaudry, a game designer, founded Fluidity in 2021. The project has received $1.3 million in initial funding from investors such as Multicoin Capital, Solana, Circle, and Lemniscap. However, the project has received over $100,000 in development funding from protocols such as Compound, Solana, Polygon, Aave, Lido, and RMIT Blockchain Innovation Hub before the funding rounds.
What are Fluidity-Wrapped Assets?
Fluidity-wrapped assets (Fluid Assets) are stablecoins, meaning they are fully backed by the base currency and are available to users at any time. According to Fluidity Founder Shahmeer Chaudhry, about 50-70% of all transactions will yield a return. Prizes will be distributed 80:20 between senders and recipients, which may include service providers.
About Fluidity Money
A new spend-to-earn system called Fluidity Money offers rewards to users who trade Fluid–wrapped fixed assets. The protocol, which started on Ethereum before moving to multi-chain, has passed audits from Bramah Systems, Verilog Solutions, and Hashlock, in addition to receiving support from Multicoin Capital, Solana, Circle, and Lemniscap.
References
cryptoknowmics.com
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