• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • Money 20/20, Amsterdam (June 6-8, 2023)
    • WFIS, Nigeria (June 6-7, 2023)
    • Crypto Expo Asia, Singapore (June 7-8, 2023)
    • BLOCK3000: Blockchain Battle, Lisbon (July 6-7, 2023)
    • NFT Show Europe, Valencia (July 14-15, 2023)
    • CyFrica, Kenya (July 18-19, 2023)
    • TOKEN2049, Singapore (September 13-14, 2023)
    • Future Banks Summit, Riyadh (September 19-20, 2023)
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
    • FinTech Festival Asia, Thailand (September 27-28, 2023)
    • European Blockchain Convention, Barcelona (October 24-26, 2023)
    • Future Tech Event, Oman (November, 2023)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

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


Join us on Telegram: https://t.me/crypto_reporter
Visit Money 20/20, Amsterdam on June 6-8, 2023
  • 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

Ethereum Classic (ETC) Price Prediction; Experts Buy Bitcoin Cash (BCH) And Collateral Network (COLT)

June 6, 2023

Best cryptocurrencies for 2023 Solana and Tradecurve

June 6, 2023

Tradecurve Expected To 100x While Binance (BNB) and Cosmos Continue To Drop

June 5, 2023

Solana Price Prediction: Cross-chain Projects Like Conflux And Collateral Network The Future

June 5, 2023

Eye-Catching Returns: TMS Network (TMSN) Makes XRP (XRP) and Tron (TRX) Seem Ordinary

June 5, 2023

Money 20/20

WFIS 2023

NFT Show Europe 2023

CyFrica 2023

Blockchain Expo Europe 2023

Fintech Festival Asia 2023

European Blockchain Convention 2023

Blockchain Expo Global 2023

Footer

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

Search

2017-2023 Crypto Reporter