Synthetix launched a new sEUR incentive for the Curve community
Synthetix announced a new incentive for the provision of sEUR liquidity in Curve. After Curve launched the liquidity fund sEUR / EURS, these incentives are necessary to attract more liquidity to the platform. The incentive will run for six weeks to test the demand for the highly liquid pool of euro stablecoins in the Curve funding protocol.
Provide liquidity for attractive Stablecoins
Curve Finance is a liquidity provider platform and DEX service on Ethereum. It helps users find access to the necessary stablecoins. Euro stablecoins are new members of this platform that are experiencing high demand from users. Providing liquidity for these stablecoins is vital to support DEX users. Synthetix announced a new incentive for these groups that will help them find new liquidity providers more quickly.
STATIS is a cryptocurrency enabling platform that will provide the second euro stablecoin in Curve Finance. Synthetix works with them to offer incentives and attract new liquidity providers. The new incentive went live on January 12 and will be active for six weeks. 8000 SNX tokens will be provided each week to liquidity providers. Synthetix says that the SynthetixDAO will provide these incentives.
Everyone can participate in the new Synthetix incentive. They will receive rewards in SNX and CRV by providing liquidity for the sEUR / EURS liquidity pools. The process is simple. According to him ad:
«To participate in the incentive, go to the deposit interface Curve sEUR and select« Deposit and share in Gauge ». Once completed, SNX and CRV rewards can be claimed at Curve. '
Users cannot participate in the new incentive through the Synthetix Staking or Minter apps. The only way is to follow the steps above.
The addition of Euro stablecoins to the Curve platform was the result of user demand. The platform decided to offer this option to its users on December 21. But every new stablecoin on a decentralized exchange needs liquidity. Liquidity providers help the platform to offer the necessary tokens to traders. Synthetix's new incentive is focused on finding new liquidity providers that will surely help the Curve platform to provide better services.
Euro stablecoins are great options for users in European countries. After US-pegged stablecoins somehow dominated the industry, users in other areas of the world demanded that the platforms offer similar services. Supporting euro stablecoins on decentralized exchanges like Curve surely helps them attract more new users. A step that is vital to compete with traditional centralized cryptocurrency exchanges.
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