Fountain Launches Liquidity Mining Program, Attracts $15 Million TVL in 24 hrs
[PRESS RELEASE – Please Read Disclaimer]
Singapore, 14th March 2022 — Decentralized cross-chain lending platform Fountain Protocol has launched a liquidity mining program on the Oasis mainnet, attracting over US$10 million in TVL (total value locked) within 24 hours.
The strong launch earns Fountain Protocol a third-place ranking as compared to all other protocols on the Oasis public chain, in terms of TVL. It also places them in the top spot for borrowing and lending protocols.
To support the launch, Fountain Protocol’s FTP token has been listed on the Oasis-based decentralized exchange YuzuSwap. The token boasted a price increase of as high as 500% at launch.
The liquidity mining program currently offers high APR for liquidity suppliers and borrowers, offering a good chance for profits.
“Borrowing and lending protocols are important for the development of DeFi, and Oasis is a perfect blockchain for our protocol,” said Fountain Protocol COO. “With Oasis, we can offer 99% lower gas fees than Ethereum, with very high efficiency and unmitigated privacy protection. Fountain will provide the absolute best borrowing and lending experience for our users.”
Fountain has a thriving community keen to see it succeed. Prior to its mainnet launch, over 30 thousand wallet addresses joined the Fountain testnet to support the protocol in its beta phase. The protocol also passed audits by PeckShield and Verilog, confirming for its users that Fountain is a secure platform to transact on.
Following its liquidity mining program, Fountain Protocol has an ambitious roadmap planned. The goal is to retain the Fountain Lending Pool as the core business, while expanding out to other blockchains and building out multiple revenue streams with various use cases. Future planned services include leverage trading and cross-chain lending.
About Fountain Protocol
Fountain Protocol is the first cross-chain lending platform powered by Oasis. The protocol enables users to experience high capital efficiency and one-stop management of DeFi assets. Taking advantage of the extremely efficient and low-cost Oasis Network, Fountain Protocol establishes a multi-revenue protocol with the Fountain Lending Pool as the core and multiple use cases.
OhNoRipple via https://www.ohnocrypto.com/ @Press Release, @Khareem Sudlow