In March, Snowball launched the first stable asset, automated market maker (AMM) on Avalanche. Peaking at nearly $5 million total value locked (TVL), the vault boasts a modest 18% APR without synergy from lending solutions.
StableVault provides important infrastructure for the DeFi ecosystem and makes it easy to swap stable assets with low fees and low slippage. Ultimately, as lending protocols move into the space, StableVault will play an even bigger role by integrating with these platforms and further boosting its APR.
In the interim, we are sticking true to our vision by continuing to expand our product suite and become a major DeFi player on Avalanche.
What is the s3F StableVault?
The s3F StableVault is the liquidity pool for FRAX, TUSD, and USDT stablecoins. By depositing any one of these stablecoins into the vault, you are adding liquidity so that other people can trade between different stablecoins. Additionally, you receive a receipt token called s3F. This token represents the current pool allocation.
By supplying liquidity, you are entitled to a cut of the fees from people who make transactions in the StableVault.
Read more about StableVault here.
At launch, the s3F StableVault will not receive incentive rewards from staking. However, this is subject to change through a governance proposal.
What is Frax?
Market Cap: $114,638,997
Frax is the first fractional-algorithmic stablecoin protocol and is open-source, permissionless, and entirely on-chain. The end goal of the Frax protocol is to provide a highly scalable, decentralized, algorithmic money in place of fixed-supply digital assets like BTC.
What is TrueUSD (TUSD)?
Market Cap: $333,986,033
TrueUSD is the first regulated stablecoin, fully backed by the US Dollar. It has native Avalanche integration so that users can deposit and withdraw between their bank account and the Avalanche C-Chain.
Swap Contract Address: 0x05c5DB43dB72b6E73702EEB1e5b62A03a343732a
s3F Token (Liquidity Token): 0xA42BE3dB9aff3aee48167b240bFEE5e1697e1281
Contributors to Snowball have made reasonable efforts at ensuring the integrity of the protocol including tests. Snowball is monetarily valueless and has 0 entitled financial value. Anyone who chooses to engage with these contracts, including the Snowball token contract, are doing so at their own risk. You should perform your own due diligence.