22 Feb The Queen Meets the King
The Queen Meets the King
The DeFi Boom is in full swing at Metis. Natively launched DApps and some of the top DeFi projects from across the blockchain world have gathered on our Andromeda Layer 2 network, delivering some of the most innovative and high-yielding liquidity pools, farms, staking, lending, and borrowing opportunities available anywhere.
Still, there’s been one asset conspicuously missing from the Metis ecosystem. That is, until now. Please welcome the King, wBTC.
Thanks to Metis’ close partnership with our bridge partner/good friends at Relay Chain, the wrapped version of the largest and longest-running cryptocurrency is now available throughout the Andromeda network.
Rather than simply enabling the bridging of wBTC, Metis and Relay have teamed up with five of the leading DeFi DApps on Andromeda to offer some amazing new products and promotions for the Metis community. In addition, both Metis and Relay are sweetening the pot for the Metis community, with Metis supplying bonus METIS tokens to fund bonus farming rewards and promotions, and Relay doing the same by offering bonus wBTC tokens.
With a big nod of appreciation to Relay Chain, here’s a look at all the wBTC-related goodness at your disposal on the Metis Andromeda network, starting now. (To bridge assets yourself on Relay Chain from Fantom, Avalanche, Polygon, and Ethereum to Andromeda, go to https://app.relaychain.com/#/cross-chain-bridge-transfer).
Tethys plans to carry out its portion of the wBTC campaign in multiple steps. First, Tethys has launched a wBTC/METIS farm with 20x allocation for the first week, to celebrate the arrival of the benchmark token to Andromeda. That allocation drops to 15x after the first week.
Having recently launched a new Lend function, Tethys will add a wBTC/METIS lending pool, with the possibility to do leveraged farming, as well as leveraged lending and borrowing.
Finally, Tethys will use its recently acquired Builder Mining METIS token rewards to buy back TETHYS tokens, then use those TETHYS tokens to create a boosted emissions period (i.e. higher APR) for users of the platform. Check it all out at https://tethys.finance/.
The Agora team will launch its Agoraswap functionality in the next two weeks. As part of that launch, it will set up an AGORA/wBTC liquidity pool, with METIS rewards.
In addition, Agora will list wBTC as collateral where lenders and borrowers will earn AGORA, and hold a meme competition giveaway for AGORA/wBTC-based memes.
Agora will choose 10 winners and give them $500 in wBTC each ($5000 total). The Agora money market can be found at https://app.agoradefi.io/.
Netswap is offering not one, not two, but three new farm pools: wBTC/METIS, wBTC/m.USDT, and BUSD/m.USDC.
As part of the wBTC promotion, the wBTC/METIS and wBTC/m.USDT farms on Netswap will earn rewards in two different tokens: METIS and NETT — part of a growing double-rewards feature available at Netswap.
Check out Netswap’s many different offerings (including its brand new launchpad) at Netswap.io.
As one of the most successful yield optimizer DApps in DeFi, Pickle Finance makes good things better. To that end, Pickle will optimize the wBTC pairs offered by both Tethys and Netswap, adding METIS and wBTC rewards in addition to the compounding pool positions.
Check out these and other Pickle Finance farms at https://app.pickle.finance/farms.
Another star yield optimizer, Beefy Finance is releasing its vaults in tandem with the new wBTC farms on Andromeda. Starting Tuesday at 2 pm UTC, Beefy will beef up its offerings, boosting its vaults with bonus METIS rewards.
Peruse all the Beefy goodness on Andromeda at https://app.beefy.finance/#/metis.