Avalanche native stablecoin project Defrost Finance officially launched - Aliens: AI Crypto News & Markets Updates

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Avalanche native stablecoin project Defrost Finance officially launched

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Aliens

Wed, Nov 24, 2021

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The Avalanche native stablecoin project Defrost Finance has launched. Currently, it supports the mining of stablecoin H2O through LP tokens on the three platforms of Trader Joe, Benqi, and Curve. In the future, it will help more platforms of LP tokens and cross-chain LP tokens.

Defrost Finance and Trader Joe will start dual incentives for the liquidity pool starting on the 26th. Users can receive MELT and Joe rewards at the same time by providing MELT/AVAX liquidity. According to the Defrost document, CertiK has audited its contract in November.

Defrost Finance uses Fair Launch to start, no pre-sale. Except for a small part (5%) of the governance token MELT used for airdrops and market activities, the rest comes from H2O and MELT liquidity.

Defrost Finance entered the Early Launch phase on November 23. It lasted for three days. The lock-up volume on the day it went online exceeded 10 million US dollars.

Source: Medium

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