NearPad is thrilled to announce the complete migration of their ecosystem to Aurora’s mainnet. This marks the liftoff a fully-fledged framework for building the most composable ecosystem on Aurora and comes at a time when public interest in DeFi space is at an all-time high.
As one of the first live use cases of Aurora’s technology, NearPad is paving the way for a community-centric DeFi hub where every token holder is not only a stakeholder of the protocol but also an active contributor to its growth. Since their public launch, they’ve been awed and humbled by the community’s response to their product. There were many times where the path forward and available opportunities had looked incredibly murky, but your incredible support and critical feedback had steered them through these teething pains. They’re incredibly proud and excited to be building this ecosystem together.
But their gratitude wouldn’t be resigned to mere words alone.
Announcing The Trailblazer Liquidity Reward Program
Liquidity is critical to DeFi and the ecosystem is better served when the right incentives reward the right party for contributing to it. The launch of the NearPad DEX marks a huge milestone for the project and aims to be a cornerstone of DeFi on Aurora becoming the liquidity and trading hub.
With the imminent launch of their DEX, they’re announcing our first liquidity mining program. NearPad is allocating 2% of the total supply, 3m PAD tokens, for the first month of this program. Each week the team will rebalance the incentive pools based on TVL, community engagement, requests, and other variables. Below are the first six pools that are going to be incentivized:
As you may have noticed, all the incentive pools will have PAD as the base pair. They believe this model is more effective to achieve the goals of the liquidity mining program; attract deep liquidity for the DEX and create positive economic loops for PAD which will help sustain higher APRs longer and more organically as opposed to only compensating with higher emissions.
Getting Started With Aurora
Starting today, you can bridge your assets between Near, Ethereum, and Aurora to start providing liquidity on their DEX to earn both liquidity provider fees and farming rewards.
To get started:
- Go to https://rainbowbridge.app/transfer
- By default, the bridge is set to outbound transactions from Aurora to Ethereum. Click on the Toggle button shown in the screenshot below to switch it to an inbound setting i.e. moving from Ethereum to Aurora.
3. Click on the Connect button to have Metamask pop-up
4. When Metamask pops up, click on Next
5. Click on Connect
6. Now that you’re connected, click on “Begin a new transfer” to take you to the token selection interface for selecting the asset you want to bridge over to Aurora
7. On the token selection page, you will be shown the supported assets in your wallet that you can bridge from Ethereum to Aurora after a brief scan. Select $PAD
Please note that the bridge only supports a curated list of tokens with more being added. Also note that you can’t select multiple assets to move
8. After selecting the asset to move, wait a couple of seconds for the amount in your wallet to be scanned and reflected. You may now choose to send all by clicking on the amount show after “Max” or input the specific amount you want to send. Afterward, click on “Continue”
9. Click on “Approve Transfer” to initiate Metamask.
10. Locate your Metamask and click on “Confirm” to pay the gas fee to allow the bridge contract to interact with the asset. This is the first of 2 transactions.
11. After the transaction has been mined, now click on “Confirm Transfer” on the Bridge’s dashboard.
12. Once again, locate your Metamask and “Confirm” the transaction. This is the final gas paying operation.
13. Congrats! Your transfer is now on its way to Aurora and it shouldn’t take more than 10 minutes to arrive! You may click on “Go to my transfer” to see it status.
What’s next for NearPad? If you’ve guessed a deep-dive into their DEX launch, you’ve won the internetz!