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Stella, a leveraged farming protocol on Arbitrum, has seen a 253% increase in TVL to $5.8M after implementing STIP incentives, which aim to boost lending liquidity and profits for leveragoors. The community is actively engaged, with positive growth and yields, although there's a 30-day vesting period for rewards and unused ARB will return to the Arbitrum DAO after January 31st, 2024.
Stella, a leading leveraged farming protocol on Arbitrum, has been implementing the STIP incentives to foster growth and attract more users. The protocol has seen a 253% increase in Total Value Locked (TVL) since the start of the incentives, reaching $5.8M. Stella received 186,000 ARB for the STIP incentives, with 120,000 ARB allocated for lending pools and 66,000 ARB for profitable leveragoors. The incentives are designed to enhance lending liquidity and provide an additional 20% profit to leveragoors on their profitable positions. Stella has utilized 23,757 ARB of the received 53,144 ARB in the last two weeks, with the remaining ARB to be rolled over to the next epoch or returned to the Arbitrum DAO if unused by January 31st, 2024. The protocol's lending pool TVL has reached $4.96M, and the cumulative TVL, including leverage, is $4.8M, with leveragoor yields surpassing $132k, excluding incentives.
The community's engagement with Stella is robust, with the number of unique user addresses reaching 559. The average daily TVL is reported to be $5.5M, with an average of 61 daily transactions and daily volumes of $200,000. Transaction fees have amounted to $3,100. Community members are encouraged to provide feedback and suggestions on the STIP or other matters, with Apoorv9 available for direct communication on Telegram and Twitter.
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Posted 21 days ago
Last reply 7 days ago
Summary updated 7 days ago
Last updated 08/12 04:40