We are excited to announce the launch of an incentive program to promote oUSD liquidity on Pancake Swap, and the recently launched Derive Finance.
Derive is a trustless exchange optimized for trading of for pegged assets. This kind of system delivers better performances in terms of slippage, as well as exposure to impermanent loss for liquidity providers, and it is able to automatically rebalance its pools.
The incentives will run for three months and have started on April 9 at 12:00 PM AST. Each week an amount of OKS will be supplied by the Oikos foundation and distributed pro-rata to liquidity providers who stake their LP tokens. Amounts breakdown and instructions as follows:
PanCake Swap (BNB/oUSD)
140,000 OKS per week
In order to participate you need to deposit BNB and oUSD. After depositing, you will receive CAKE-LP tokens. Go to https://minter.oikos.cash, select LP rewards, then Pancake Swap and finally, use the Stake Tokens option to stake your CAKE-LP and receive OKS rewards.
Derive (Stablecoin pool)
240,000 OKS per week
In order to participate you need to deposit oUSD and one of the other supported stablecoins (or a combination of stablecoins). The stablecoins supported are DAI, USDC, and USDT.
To provide liquidity, go to https://derive.fi and click deposit. The user interface will guide you through the process. Once you have added your liquidity you will receive deriveUSD tokens. You must then go to https://minter.oikos.cash, select the LP Rewards tab in the top right, select the Derive option, and select the Stake Tokens option.
This trial will help to stabilize the oUSD dollar peg by increasing the depth for trades and creating arbitraging opportunities between existing markets. Big thanks to the Derive team for this effort and it is great to see composability implemented and cooperation between different initiatives.
If you’ve got any questions come join us on Telegram or Discord.
