Pangolin and Olympus partner for unique bonding program

Pangolin and Olympus partner for unique bonding program
фото показано с : invezz.com

2021-11-30 18:30

Pangolin, a DEX for Avalanche (AVAX/USD) and Ethereum (ETH/USD) assets with low transaction fees, fast settlement, and democratic distribution, and Olympus have entered a formal partnership to create a unique bonding program and co-marketing push, Invezz learned from a press release. Pangolin is the first-ever DEX on AVAX to implement this kind of bonding program, allowing it to own its own liquidity in key markets.

Exchanging liquidity tokens at a discount

The bonding program enables users to exchange their liquidity provider (LP) tokens for Pangolin (PNG) governance tokens at a discount. Liquidity always remains locked because Pangolin never sells these tokens. This way, Pangolin can guarantee the longevity of key tokens on its platform, providing additional security for its user base and guaranteeing permanent liquidity.

Bonds solve key liquidity challenges

Bonds solve critical liquidity challenges for protocols, which invest a large amount of their native token supply to incentivize LPs. This leads to excessive sell pressure and misalignment between LPs and protocols. LPs are less interested in the protocol’s success than in the high reward rates.

If a protocol is successful, the native token gains value, resulting in an impermanent loss scenario for LPs. When the market is volatile, LPs will take their liquidity out of the pool when it is most needed.

Partnership with Olympus eliminates risk

The partnership will also enhance innovation due to reduced volatility, which increases long-term revenues for Pangolin while minimizing user risk. Bonds give Pangolin users an incentive to support the protocol through discounted tokens.

This will ensure greater liquidity for Pangolin because it will be able to bring about price stability, support larger trades, attract more long-term holders, and protect users against massive exits. Pangolin will use liquidity fees to unlock more revenue streams and innovate on its own platform.

Greater exposure for the DEX

The partnership with Olympus DAO will lead to greater exposure for Pangolin as the first AVAX project to offer bonds. These bonds will be launched on the Olympus Pro X bond marketplace, attracting more ETH users to AVAX. In addition, Pangolin will benefit from the experience of Olympus DAO’s policy and marketing teams to ensure long-term initiative maintenance.

The post Pangolin and Olympus partner for unique bonding program appeared first on Invezz.

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program usd pangolin unique bonding olympus formal

Источник: invezz.com

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