Marginswap $300k Lending and Trading Incentive on Avalanche
Marginswap has been experiencing increased demand for lending from traders on the platform. With less than 500.000 in TVL on Avalanche, assets like PNG and USDT.e have experienced interest rate swing of up to 260%.
In order to turbocharge the next stage of growth on Avalanche, Marginswap will be distributing a total of 200.000 MFI, currently valued at $330.000 to lenders and margin traders.
Lenders for the token PNG, AVAX, USDT, and WETH will accrue MFI rewards, payable when a withdrawal of any amount of lending for the particular token is made.
Lending Incentives is scheduled to begin at 15:00 UTC on the 28th of Aug.
Reward for Traders
Traders pay a total of 0.4% for trades made on the margin side of the platform. 0.3% to AMM liquidity providers and 0.1% to Marginswap. Traders will be able to claim up to a total of 110% on the 0.1% fee paid to Marginswap. The total fees paid by traders will be calculated 2x a month, after which the MFI reward can be claimed.
PS:
Their lending contract has been switched to support the distribution of MFI to lenders! So please migrate to the new platform. Read more here
About Marginswap
Marginswap is a decentralized trading protocol that natively supports spot and cross margin swapping of assets on AMMs like Uniswap, SushiSwap, and Pangolin. Using Marginswap, you can trade a wide variety of tokens, much like you already do on existing protocols, but with leverage.
