Alvin lands on Arbitrum

Published in

AgaveFinance

3 min readOct 20, 2021

The Agave Dao protocol ($AGVE) — a money market lending and borrowing platform native on xDai — is soon-to-be launched on Arbitrum. The lending platform was officially released on September 1st 2021, and since then numerous announcements have been made to the constantly growing community.

Sitting at roughly 4–5 MC, it currently has over 25% of its circulating supply in the staking contract. Recently Agave announced a liquidity incentives program on xDai starting on October 25th along with Chainlink Integration.

Alongside the tech and the core-project, Agave has another side-project that will land on Arbitrum in the coming weeks. Alvin.

A Brief History

Similar to the idea born with Unisocks, Alvin is an Agave Finance project that has the objective of issuing a token that is redeemable for a physical plushie with the iconic figure of Alvin, the little and cute Agave used in the Agave logo. Anyone can redeem an Alvin token for 1 plushie by burning it. This makes Alvin redeemable and deflationary by nature.

There will only ever be 500 Alvin manufactured and minted!!!

Both Alvin and Agave will be tradeable on Arbitrum on Swapr.

Distribution

Alvin’s distribution will be handled by the multisig on Arbitrum Chain:

104 Alvin Airdropped to old holders (Airdropped on Arbitrum)
375 Alvin for Purchase (Airdropped on Arbitrum)
15 Alvin Liquidity Provision (Held by Multisig 5/8)
6 Alvin Marketing Purposes (Held by Multisig 5/8)

Agave DAO ran a short whitelisting window between 14th and 16th October. Currently, a direct sale is ongoing and users, on xDai, can purchase a maximum amount of 2 Alvin. (1st Alvin for 150XDAI, 2nd Alvin for 1 AGVE)

If you need to bridge a few assets from/to xDai, you can do so by using Li Finance, xPollinate, cBridge. Follow this guide for further help.

The making of Alvin will happen in Mexico City and handled by Envia.com; Shipping is available worldwide in a 5–7 business day timeframe.