Tinyman Launches Farms for “Targeted Defi Rewards”
The Algorand community and the Foundation have taken a crucial step towards the growth of Algorand’s DeFi ecosystem by unlocking the Targeted DeFi Rewards program.
The Algorand community’s decision is a significant determinant factor for shaping DeFi in the upcoming quarter. Tinyman has received 688,623 ALGO, and is excited to announce the launch of our farms.
What are the Targeted Defi Rewards?
Targeted DeFi Rewards (TDR) is a program that aims to incentivize and promote growth in the Algorand DeFi ecosystem by providing additional incentives to leading DeFi projects. The proposal was prepared in light of a strategy that was initially proposed in Governance Period #4. Since then, each quarter, we have seen new proposals for extra DeFi incentives that were put forward for community discussion and voting.
During the last quarter’s Governance Period #6, a proposal was submitted to distribute 5 million ALGO to eligible DeFi projects on the condition that the funds be used to incentivize their respective communities. The proposal received an overwhelming vote in favor, and eligibility criteria were established to select the projects. A further review was conducted to ensure that the different types of DeFi applications were also taken into consideration for a fairer distribution. As a result, 8 DeFi projects with a total value locked (TVL) of at least 500,000 ALGO were selected, including Tinyman.
Tinyman’s Share of the Rewards
Our team has put in the utmost planning to execute this responsibility to the best of our abilities. We believe with the approach outlined below, the rewards will significantly boost our ecosystem and play a vital role in supporting projects that have pools in our contracts.
Our selection criteria for the farms align with the principles of the TDR program. We will create 20 farms for the V2 pools of ASAs that meet the following criteria:
- A minimum TVL of $20,000 USD
- A trading volume of $100,000 USD in 2023
- High number and distributed shares of LPs in the pools
All farms are already created and ready for your participation in the Tinyman app.
The farms will last for 75 days, and 687k Algo will be distributed through daily cycles. Below, you can see the complete list of farms:
Projects That Go Above and Beyond
The Algorand ecosystem never fails to amaze us with its generosity.
There are projects that have gone the extra mile by offering double rewards as an additional incentive. We would like to express our gratitude to Cosmic Champs, PlanetWatch and Defly teams for their contribution.
You can see their rewards as a separate option in their respective farm sections. Remember, you can always commit to more than 1 farm option available for 1 LP token. Make sure you double-dip!
Tinyman’s ready for the summer
As the DeFi ecosystem in Algorand continues to grow, Tinyman is excited to be a part of this journey and to contribute to its development. We are grateful to the Algorand community for their support and to the projects that have gone the extra mile to offer additional incentives. To share your insights and ideas, we invite you to join us on this exciting adventure on our social media channels. Thank you for your continued support!
