Fluidity, a novel decentralized finance (DeFi) protocol, is ready to change the narrative in marketing and community management in Web3 with its Ethereum-based version.
Fluidity comes to Ethereum (ETH), introduces "spend-to-earn" concept to DeFi
According to the official statement shared by its team, Fluidity DeFi protocol rolls out its Ethereum (ETH) version on Dec. 19, 2022. The protocol underwent a third-party security audit and, therefore, is ready to onboard mainnet users.
The protocol issues rewards to users who swap, stake, trade and perform every on-chain transaction with Fluid-wrapped cryptocurrencies. Fluidity, therefore, is designed to replace staking, lending and yield farming with the "spend-to-earn" concept: users can actually be rewarded for their activity on the blockchain.
As such, cryptocurrency entrepreneurs now have one more impressive instrument to accelerate the activity of their projects' communities: Fluidity reshapes the way Web3 buisinesses are interacting with potential and existing customers.
Fluidity founder Shahmeer Chaudhry claims that this concept can be of mutual interest to DeFi users, project teams and Web3 segment as a whole thanks to the fact that Fluidity's architecture is innovative:
Four or five years ago, everybody said DeFi could be the use-case that brings in a billion users to crypto – but it actually turned out to be NFTs and GameFi. At Fluidity, we want to gamify how people think about spending money, and our long-term goal is to reshape how people approach spending.
As per the estimations of the project's team, Fluidity's randomly paid yields and dividends can range from cents to millions for crypto investors.
More blockchains to come soon
Technically, Fluid-wrapped assets are stablecoins: they are backed one-to-one with reserve currencies and can be redeemed by users at any time. In total, 50-70% of all transactions in fluidity will be yield-bearing.
The rewards pools will be split 80:20 between recepients and senders, allowing the latter to work in a more profitable manner than "regular" liquidity providers in crypto.
Before being launched on Ethereum (ETH) mainnet, the protocol has operated on both the Solana devnet beta and Ethereum testnet, with 50,000 users. The team announced that Polygon Network (MATIC), Solana (SOL) and Arbitrum second-layer solutions will be the next platforms to host Fluidity contracts.