Fei Protocol To Utilize G-UNI For Their Liquidity Mining Program
Fei Protocol will direct liquidity mining rewards to the G-UNI-powered FEI-DAI pair on Uniswap v3. Fei Protocol is the latest of many projects that have utilized G-UNI for their token and liquidity mining program.
“Gelato makes UniV3 concentrated liquidity super easy and permissionless. No brainer integrating them into our TRIBE incentives system.” Joey Santoro, founder of Fei Protocol
Fei Protocol enables the generation of FEI, an algorithmic stablecoin that aims to provide a decentralized alternative to USDC, USDT, etc. Completely backed by ETH, FEI does not rely on any centralized collateral giving holders confidence in its censorship resistance. Currently, FEI has over $420 million in circulation and is expanding its use through a variety of incentive programs powered by the newly implemented TribalChief Rewards contract.
The G-UNI FEI-DAI pool is the first pool to be approved in FEI’s new TribalChief contract which is a fork of SushiSwap’s MasterChef’s rewards which aims to direct emissions via votes by Sushi and Sushi LP stakers. Right now, 100 AP rewards will be directed towards the G-UNI FEI-DAI pool.
G-UNI is an easy-to-use unopinionated framework for providing liquidity on Uniswap v3. By making LP positions both fungible and fees auto-compoundable, G-UNI turns Uniswap v3 into v2 again in terms of ease of use and composability. This allows it to be utilized in liquidity mining schemes that could be democratically accessed by a token’s community.
“G-UNI is meant to be easy to use and neutral building block which turns non-fungible Uniswap v3 liquidity positions into Uniswap v2 like fungible and auto compounding positions without adding any unnecessary complexities or assumptions. Fei has a really novel approach to stablecoins and using G-UNI can help them really deepen FEI’s liquidity on DEXs which is key to accelerate the adoption of their stablecoins.” —Hilmar Orth, Lengendary Member and co-founder of Gelato
We both see this as the first of many collaborations to come including more incentivized G-UNI-powered pairs as well as general-purpose automation via Gelato to improve the efficiency of the FEI protocol. Stay tuned to our social channels for further updates!
About Fei
Fei protocol is an algorithmic stablecoin for DeFi. The aim of Fei is to propose a technological solution in a sweet spot between rigid overcollateralized traditional stablecoin and unpredictable but centralized existing algorithmic stablecoins. FEI is a scalable and decentralized stablecoin that leverages protocol-controlled value (PCV) for peg maintenance while maintaining highly liquid secondary markets.
About Gelato Network
Gelato Network is Web3’s premier automation network, enabling developers to automate a wide variety of arbitrary smart contract executions on and across all EVM-based compatible blockchains such as Ethereum. Examples of use cases developers have built on top of Gelato include Limit Orders on AMMs like Uniswap, automatic compounding of yield farming vaults, Aave liquidation protection, MakerDAO debt ceiling updates, automated liquidity management, and even the petting of Aavegotchis. Our ultimate goal is to automate everything and by giving developers the reliable tools they need to do this, we can empower their users to get the most out of their Web3 experience.
► Check out what we’ve been working on at 🍦 https://gelato.network/🍦
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