• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • TWS, Singapore (July 28-29, 2025)
    • WFIS, Philippines (September 23-24, 2025)
    • Forex Expo Dubai (October 6-7, 2025)
    • Merge Madrid (October 7-9, 2025)
    • European Blockchain Convention, Barcelona (October 15-17, 2025)
    • Blockchain Futurist Conference, Florida (November 5-6, 2025)
    • WFIS, Indonesia (November 25-26, 2025)
  • Past Events
    • Blockchain Life
    • BlockShow Europe
    • Event Horizon

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies

Join us on Telegram: https://t.me/crypto_reporter
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Ethos Reserve Pledges Up To $4.4 Million To Accelerate Layer-2 DeFi Adoption On Optimism

April 27, 2023 By Business Wire

DeFi users can receive rewards by providing liquidity on Optimism protocols such as Digit.xyz, Velodrome, and BeethovenX over the course of the next 12 months


LOS ANGELES--(BUSINESS WIRE)--Starting on Monday, May 1st, Ethos Reserve, in collaboration with the Optimism Foundation, will be distributing up to $4.4 million worth of OP and OATH tokens to liquidity providers of $ERN, a next-generation stablecoin built on Optimism, as part of a 12-month long program to incentivize DeFi adoption on the layer 2 network.

Ethos Reserve is an OP-native, permissionless collateralized debt position (CDP)-backed stablecoin platform. Users are able to use the platform to take out interest free loans denominated in $ERN (Ethos Reserve Notes), with each $ERN token representing $1 in collateral value. Through the use of its novel multi-collateral debt management system & managed CDP vaults, Ethos Reserve is able to deliver a high degree of capital efficiency, without sacrificing security or stability.

“We’re excited to give Ethos Reserve a chance to bring new incentives to users in the Optimism ecosystem,” said Ben Jones, director at the Optimism Foundation. “We’ve seen significant growth in decentralized finance within our own community and in L2s more broadly, and we’re proud to see Ethos continuing that trend on Optimism.”

Incentives will be distributed to $ERN liquidity providers through platforms such as Digit.xyz, BeethovenX, and Velodrome. Follow Ethos Reserve on Twitter for more updates as the incentives program rolls out.

About Ethos Reserve:

Ethos Reserve is a non-profit initiative by the Oath Foundation to create a fully decentralized, community-governed stable asset protocol. Users can use the protocol to take out interest-free loans against premium collateral such as BTC and ETH, denominated in ERN, a stable asset pegged to the US Dollar. This protocol is designed to provide a new decentralized base-layer for financial applications to be built upon which is underpinned by fair and sustainable mechanisms.

About Optimism:

Optimism is a project dedicated to scaling Ethereum's technology and expanding its ability to coordinate people from across the world to build effective decentralized power structures. The Optimism Collective builds best-in-class software for running L2 blockchains and aims to address key governance and economic challenges in the wider cryptocurrency ecosystem. The Optimism Collective is also committed to building a sustainable ecosystem through Retroactive Public Goods Funding. By rewarding the impactful projects, Optimism is scaling Ethereum’s present to provide funding for its future.


Contacts

Ben Noble
e: ben@howl.xyz
t: 1 (919) 721-3590

Filed Under: News Feed

Primary Sidebar

Follow Us

Press Releases

As Ripple (XRP) Awaits Legal Clarity, Little Pepe (LILPEPE) Could Soar to $0.10

July 5, 2025

Dogecoin Price Prediction: Will DOGE Reach $1 If Elon Mentions It Again, or is 2025 Little Pepe’s (LILPEPE) Year to Shine?

July 4, 2025

MetaWealth becomes first RWA investment platform to distribute 1 million USD to token holders

July 3, 2025

DFINITY Foundation Launches Niobium Milestone, Bringing New Levels of Privacy with vetKeys Technology on the Internet Computer

July 3, 2025

Crypto’s Biggest Ecosystems are Scaling with Cosmos: Sovereign EVM Day Recap

July 3, 2025

TWS Conference

Forex Expo Dubai

Merge Madrid

Futurist Conference

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2025 Crypto Reporter