Pangolin Receives $500k from Terraform Labs to reward UST (Wormhole) Liquidity Providers
Pangolin will distribute these UST rewards over 3 months
We are pleased to announce that Pangolin has received $500k to reward UST (Wormhole) liquidity on our platform.
Liquidity providers of UST bridged through Wormhole will be eligible for increased rewards in three new $UST Super Farms. This partnership is made possible through a Terra Labs governance vote to support and incentivize UST adoption in the Avalanche ecosystem.
What happens with two different UST coins on Pangolin?
You might be asking, “Aren’t the current UST Super Farms with tokens bridged through Axelar?” The answer is yes, and these Super Farms will remain on Pangolin with the token ticker changing to axlUST. The current farms will be axlUST-USDC and axlUST-AVAX.
Starting today, any tokens bridged to Avalanche through Wormhole will have the ticker UST. You can use these tokens in our three new Super Farms.
New UST Super Farms
We will be incentivizing the following brand new UST Super Farms with double rewards in PNG and UST:
UST-PNG
UST-AVAX
UST-USDC
We’re very excited about our PNG-UST pair. It will let Pangolin users get accustomed to holding and utilizing UST (Wormhole). This aligns with our plans to enable the community to operate in a cross-chain future while bringing new funds and users back to the Avalanche ecosystem.
Each new farm will distribute over $2k of rewards per day and last for 12 weeks. You can find those farms here.
Comment below with your thoughts and questions on the new Super Farms. And don’t forget to share this post and join Discord and Telegram to be a part of the future of Pangolin.
About the Wormhole
Wormhole is an interoperability protocol powering the seamless transfer of value and information across 8 high-value chains with just one integration.
About the Terra Protocol
The Terra protocol is a decentralized and open-source public blockchain protocol for algorithmic stablecoins. Using a combination of open market arbitrage incentives and decentralized Oracle voting, the Terra protocol creates stablecoins that consistently track the price of any fiat currency.
About Pangolin Exchange
Pangolin Exchange is a top decentralized exchange (DEX) on the Avalanche Network that provides the best DEX experience through deep liquidity, easy swaps, advanced tooling, and smooth onboarding. Pangolin brings you the best trading opportunities to find and maximize your yield.
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