The Shining Curve Program — Phase 2
The Shining Curve experiment conducted in February and March proved to be quite successful, so now the time has come to take the next step.
Not only were we able to create an environment more conducive to the growth of DeFi, but adding more rewards to the liquidity pairs enhanced both volume and TVL.
Shining Curve Phase 1
It all started with the introduction of the Shining Curve liquidity program with the aim to introduce additional rewards and offer boosted farming to those who want to get a little more out of Decentralized Finance.
The Solarbeam Foundation has always worked while standing together with the community, taking an approach that would cause a domino effect of reward and better returns.
The approach we took was a simple one — a dynamic chain liquidity program to reward selected liquidity pairs. It created a chain reaction that led to higher user activity and pair volume, which eventually also led to an overall increase in TVL.
This experiment with the vision to iteratively add features for the community helped Solar and Flare grow further.
But how far has this growth come?
The success of Phase 1
In the first few days of the Shining Curve liquidity program, we saw an increase in the total value locked of Solarbeam by 21.37%. The potential it showed gave us a glance of what it could achieve in the future.
Some additional highlights of Phase 1:
- Increase in FLARE price within the first 10 days of the incentives of over 170%
- Increased TVL on both exchanges
- Increase of transaction volume on the incentivized pairs
Phase 1 has boosted our confidence and has motivated us to add further improvements that we have implemented throughout our operations.
To many, it might seem like a lightning strike. However, we are sure that we can make this lightning strike hit twice with Phase 2 of the Shining Curve.
What will the Shining Curve Phase 2 will look like?
“More” is the motto of Phase 2. More pairs will be incentivized, new improvements will come to the platform and more nuanced strategies will be implemented to reward the community.
Phase 2 of the Shining Curve will begin with focus on the incentivization of popular Solarbeam pairs:
- MOVR/USDC
- xcKSM/MOVR
- xcRMRK/MOVR
- xcKSM/stKSM
- ROME/FRAX
- FRAX/3POOL
- veSOLAR
- ETH/MOVR
- SOLAR/MOVR
- wBTC/MOVR
There are 2 new farms added from the previous phase and with more to come over the span of the Shining Curve program:
- SOLAR/MOVR — We’ve listened the community suggestions and thus we’re adding additional support on Solar pairs to further fortify our native token
- wBTC/MOVR — An homage to our ‘’father’’ token, we want to additionally increase BTC liquidity on Solarbeam through an incentivized farm
Both of the above farms are v1 and need to be upgraded to v2 to support multiple rewards through a farm migration. This gives us the opportunity to migrate all of our old v1 farms to their v2 counterparts. In the span of 25 days, 13 farms will be migrated to v2.
You can find the detailed migration schedule here
The introduction of Shining Rewards created positive-sum incentives. Not only did it create an ecosystem beneficial to the growth of the community, but also an increased Dex activity.
Adding more liquidity to the selected assets created a path of long-term growth on which both the Solar and Flare communities can prosper.
We are thus continuing the incentives further in order to create a stable foundation for the upcoming developments.
The Shining Curve Phase 2 will last for the next few months while we will be constantly re-balancing the pools according to community feedback.
So, it’s now time to welcome Phase 2 of the Shining Curve and enjoy MOVR rewards on our daily harvest!
Solarbeam Foundation — Shine a light on DeFi, powering Moonriver and Moonbeam
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