Avalanche Rush will issue more than $180 million in DeFi rewards

Smart contract platform Avalanche owns Announce A $180 million liquidity mining incentive plan called Avalanche Rush. According to the announcement, the plan aims to encourage more applications and tokens to migrate to Avalanche’s Decentralized Finance (DeFi) platform.

It will follow a multi-phase deployment starting with the Aave and Curve agreement, and then expanding to other assets in the coming months. In the first phase, Avalanche will allocate up to US$20 million in AVAX tokens to Aave and up to US$7 million in AVAX tokens to Curve within 3 months. At the same time, the Avalanche Foundation will sponsor the release of Benqi’s DeFi agreement on the Avalanche network starting on August 19, with a grant of US$3 million.

The news of the Rush plan is as follows Re-release the avalanche bridge -The upgraded version of the cross-chain bridging tool before the project is said to be five times cheaper, faster and safer than before.

Part of the funds allocated to the Rush program will be reserved for current and future local Avalanche applications, and it is said that more information about applying for local rewards will be provided soon.

Stani Kulechov, founder of Aave Companies, said of the plan:

“Avalanche consensus is very suitable for building DeFi applications because of its scalability, especially its high throughput and near-instant certainty.”