Axial is pleased to announce our partnership with Teddy, a decentralized borrowing protocol on Avalanche.
Much like Axial, Teddy is providing essential utility for the Avalanche ecosystem, especially with its issuance of TSD - an algorithmic stablecoin backed by Avalanche’s native currency (AVAX) - as well as the interest-free loans available to their users. Axial helps to support Teddy’s TSD, and other tokens, by providing ways for the Avalanche community to swap between value-pegged assets, such as stablecoins, with much lower fees and slippage than traditional decentralized exchanges.
The partnership between Axial and Teddy will bring 1 million TEDDY tokens as rewards for liquidity providers in Axial’s AC4D pool, where users can deposit TSD tokens and already gain rewards in the form of swap fees from protocol usage, as well as bonus AXIAL token rewards. This extra incentive from Teddy will hopefully bring even more liquidity to the pool, allowing users to swap to and from TSD with even lower slippage.
We hope to see this partnership create even more value for the Avalanche community in the future, allowing both Axial and Teddy users to experience the best of what DeFi on Avalanche has to offer.
About Axial
Axial is an Avalanche-native decentralized exchange that is the centerpiece for liquidity of value-pegged assets in the ecosystem. It provides traders swap functionality with ultra low fees and slippage, and is integrated into the best DEX aggregators in the space. Axial specializes in providing liquidity between a variety of stable assets, including bridged, synthetic or derivative assets.
The Axial DAO was the first project to be launched as a spinout of the Snowball DAO, led by one of the most experienced teams on Avalanche with a great record of transparency, community-focus and innovation.
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About Teddy
Teddy Cash is a fully decentralized borrowing protocol on Avalanche offering interest-free loans and high capital-efficiency. Its stablecoin, TSD or the Teddy Dollar, is Avalanche’s first censorship-resistant algorithmic stablecoin fully backed by AVAX.
