dForce is hosting and incentivizing the Aspida LSD Vault as part of the ongoing Arbitrum STIP campaign!
ICYMI: after receiving 1M ARB incentives from the Arbitrum Foundation as part of their STIP campaign, dForce has announced a liquidity mining campaign on Arbitrum that started on January 18th and will last for 10 weeks until March 28th, 2024. The ARB tokens received through the STIP program are being allocated across several initiatives.
Today, we are proud to unveil the details of another campaign that will take part in the program: dForce is integrating the LSD Vault of Aspida to its dApp, with $ARB rewards and points to be distributed starting from Thursday February 1st, 2024!
Click here to read more details about our STIP-powered campaign and scroll down to explore all the details of this new initiative!
Background and context
Since its inception, Ethereum has continually sought to enhance its scalability, security, and sustainability. One of the most pivotal developments in Ethereum’s journey has been the transition from a Proof of Work (PoW) to a Proof of Stake (PoS) consensus mechanism. As Ethereum transitions to PoS, a novel financial instrument emerged and thrived within the DeFi ecosystem: Liquid Staking Derivatives (LSD). LSD platforms enable ETH holders to stake their tokens in the PoS network while retaining liquidity and fungibility. dForce is always been at the forefront of the LSD adoption, a testament underscored by our support to Lido’s wstETH, Rocket Pool’s rETH, as well as our strategic partnership with Lido to drive wstETH adoption on Arbitrum and Optimism in 2023.
Today, we want to make a step further in our mission with the integration of the Aspida Vault prior to their launch on Arbitrum.
dForce integrates the LSD vault of Aspida Network
Aspida Network is an emerging protocol that is introducing a decentralized and secure staking service tailored for LSD assets. Aspida empowers users across diverse layers and networks to effortlessly earn lucrative rewards on top of their Liquid Staking of ETH.
dForce will host Aspida’s Vault in its dApp, enabling users to deposit ETH but also LSTs as wstETH (Lido) to earn ARB tokens as well as Aspida’s Shield points.
In particular, with the dForce Vault, users become able to deposit their ETH or wstETH in the Vault and receive saETH token (ETH staking token from Aspida to be launched on Arbitrum).
Campaign details
Recognizing the critical role of LSD assets in Arbitrum’s success, dForce will integrate Aspida Vault and will co-incentivize it with ARB tokens. Users staking in the Vault will also receive Shields as part of Aspida’s points program — click here to read more about it.
The incentives campaign will be divided into 2 phases: the Free Staking Phase and Lockup Phase.
Campaign Phases
Free Staking Phase
- Duration: 28 days: 1st — 28th Feburary
- Participants are free to make wstETH and ETH deposits and withdrawals. However, those users who make withdrawal during this period will not be eligible to claim rewards from Bonus Pool.
- The incentive amounts will be updated on a weekly basis. The allocation of $ARB and Shields for the first week (1–8th February) is indicated in the table above.
Bonus Pool
- Only users who have not made any withdrawals during the Free Staking Phase are eligible to receive incentives from the Bonus Pool.
- Users exit prior to Lockup Phase will forfeit their bonus rewards and users who roll into Lockup Phase will be eligible to claim all rewards in the Bonus Pool (including those forfeited rewards from exited users).
- The incentive amounts will be updated on a weekly basis. The allocation of $ARB and Shields for the first week (1–8th February) is indicated in the table above.
Lockup Phase
- Duration: 10 days following the conclusion of the Free Staking Phase: 29th February — 9th March
- All Lockup Phase participants are eligible to receive the final phase incentives, including those who do not qualify for Bonus Pool incentives. Deposits or withdrawals are not allowed during this phase.
- Rewards: The rewards in this phase will be disclosed in a later stage.
- The (wst)ETH withdrawal will be available again once the Lockup Phase end at March, 9th.
- At the end of the Lockup Phase, Participants are able to claim their incentives, including $ARB and Shields, as well as the saETH.
Conclusion
At dForce we are proud to announce yet another step in pushing LSD adoption on Arbitrum with the integration and incentivization of the Aspida Vault! If you want to participate to the campaign, prepare your ETH and wstETH on Arbitrum and get ready to deposit them in the Vault section of our dApp starting from February 1st, when incentives in ARB and Aspida’s Shields will start flowing!
About Aspida
Aspida is an efficient liquid staking protocol that offers a decentralized, secure, and highly compatible staking service. By leveraging the power of liquid staking, Aspida allows users across different layers and networks to earn staking rewards while maintaining the flexibility to participate in multiple staking opportunities.
More information such as Aspida’s key features and the benefits can be checked through ‘Aspida: An Efficient and Secure Liquid Staking Protocol’
Join Aspida Community: Discord丨Telegram丨Twitter丨Blog丨Medium丨Documentation
About dForce
dForce is the main protocol of its own multichain ecosystem, at the heart of which lies USX, a decentralized stablecoin. With a rich history dating back to 2019 and investors as Multicoin Capital, CMBI, Huobi Capital, the dForce ecosystem brags today around 200 million dollars of total assets.
Try dForce App: https://app.dforce.network/
Join dForce Community: Website | Forum | Twitter | Telegram | Medium
