GP9 Meld Gold TDR Post Report
Meld Gold received 515,340 ALGOs from the Algorand Foundation for the DeFi targeted rewards program. These rewards were distributed via trading platforms (as per the T&C’s of the program), with three main goals:
1. Retain existing liquidity and bring new liquidity into the ecosystem through incentives that bring utility and yield opportunities to an asset class that is usually inflexible and cost bearing.
2. Create deeper liquidity in trading pairs to allow more users to access GOLD$ & SILVER$ with less slippage.
3. Increase asset utility.
The Results:
TVL Change —
GP8 Increased 36% from USD$2.974m to USD$4.045m. ✅
GP9 Increased 8.7% from USD$4.045m to USD$4.395m. ✅
Rewards Distributed — 100% and were distributed as per the GP9 TDR report. ✅
Liquidity Retention — Redemptions were <1% of the circulating supply for the period. ✅
Depth of Liquidity (DEX TVL) —
GP8 Average Increase > 300% GOLD$ USD$375k, SILVER$ USD$393k. ✅
GP9 Average Increase 51% GOLD$ USD$590k, SILVER$ USD$570k. ✅
The above results are directly due to the incentives provided, Meld Gold has worked with several LP’s around deploy their assets and bringing additional liquidity onchain with rewards being the catalyst.
New Utility —
1. Folks Finance listing both GOLD$ & SILVER$ for deposits, to be used as collateral and to borrow. ✅
2. Launch of fPOOLS to increase yield options by providing GOLD$ & SILVER$ as both collateral and DEX liquidity with a single deployment. ✅
3. X-NFT Awards, the worlds first NFT awards that are backed by physical precious metals went live. Awards are in the form of Meld collectable NFT coins that can be burnt in exchange for their underlying denomination. ✅
Other Items of Note:
There was a significant increase in the number of onchain transactions with 30 day volume passing 70,000 by the end of GP9.
X-NFT. Through collaboration with the Algomint & X-NFT teams, X-NFT token rewards were introduced to several of the Meld Gold pools.
What’s next?
The GP10 TDR Report can be viewed here.
