Algomint DeFi Rewards Allocation Plan (GP7 rewards).

Algomint will receive 479,042 ALGOs from the Algorand Foundation for DeFi boost, eligibility for bridges was based on TVL but using a slightly different calculation methodology.

Bridge Eligible TVL = Total eligible assets bridged into the Algorand ecosystem at the time of the snapshot.

Eligible Assets = BTC, wBTC, ETH & wETH bridged in the form of goBTC & goETH.

TVL as verified by the Algorand Foundation at the time of the snapshot = USD$6,706,096

Bridges also had an additional requirement to distribute rewards as incentives via trading platforms. This is due to the handicap platforms like DEXes face where APY’s are impacted by impermanent loss. Depth of liquidity also creates more trading (onchain activity) which supports DeFi venues with additional fees and can create significant utility.

The reward distribution strategy has two main aims:

1. Highest priority — Maximising new liquidity inflow by creating the strongest incentives per ALGO. This will be done by allocating a majority of rewards to stable pairings.
2. Increasing the depth of liquidity for goBTC and goETH pairings.

Resulting in TVL growth and further utilisation of the Algomint Bridge and Baskets. By creating depth and efficiency for trading, we set the foundation for goASSETS to gain broad adoption across the Algorand ecosystem while we continue building partnerships to create asset utility. The allocated rewards will be distributed across our assets as seen below proportionately:

We are collaborating with PACT, Folks Finance, and xBacked, to provide co-incentive plans boosting rewards for goASSET holders, this will be reflected on the launch of selected pools.

Why have we taken this approach:

• Stable swaps generally have little or no impermanent loss so APY is genuine — meaning the strongest net APY is achieved per ALGO of rewards.
• Stable swaps are highly efficient, maximising the tradability achieved per $ of TVL (and in turn per ALGO of rewards).
• goUSD will have multiple new assets including in the basket priority will be given to attract liquidity of these new additions.
• Incentivise users to bridge ETH and BTC.
• Grow goASSET adoption and liquidity across the ecosystem and strengthen partnerships.

The below list contains the intended pairs that will be incentivised.

goBTC/ALGO

goETH/ALGO

goUSD/USDC

goUSD/xUSD

goUSD/wDAI

goUSD/USDT

goUSD/GOLD$

goUSD/SILVER$

goUSD/gALGO

goMINT/goUSD

Wallet for rewards allocation: https://algoexplorer.io/address/5FTM5LJ7OE3X5E4FULID3KJZIYZMLAMM3EWI4C4VMZAX67GPMD4XK4QUOU