Movement launches annual Cornucopia liquidity enhancement program to build a multi-asset liquidity ecosystem
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Movement launches annual Cornucopia liquidity enhancement program to build a multi-asset liquidity ecosystem
Users can currently deposit selected BTC, ETH, and stablecoin assets into the Cornucopia Vault, with the MOVE Vault coming soon.
Navigating Web3 tides with focused insightsAuthor: Movement
Translation: TechFlow
The Movement ecosystem has announced the launch of Cornucopia: a one-year program designed to boost liquidity in Movement DeFi.
Cornucopia symbolizes abundance, harvest, and substantial potential returns for all participants. The program is divided into several phases, with the first phase starting last week.
Both the Concrete Vault and the Veda Vault under Cornucopia are now open.
Introduction to Cornucopia
Cornucopia features multiple vaults across four categories: BTC, ETH, stablecoins, and MOVE vaults. These vaults are managed by Concrete and Veda, allowing users to deposit compatible assets. After an 8-week lock-up period, assets will be unlocked and returned to users via the Movement application on the Movement Public Mainnet Beta (coming soon).
Users can currently deposit selected BTC, ETH, and stablecoin assets into Cornucopia vaults; the MOVE vaults will open soon.
Goals of the Cornucopia Program
The goal of Phase 1 of Cornucopia is to unlock liquidity. It aims to create deep liquidity for outstanding developers and the community through these vaults. From day one, Cornucopia is committed to powering the growth of Movement DeFi. The Movement Network Foundation hopes everyone can experience the speed, security, and ease-of-use of Movement DeFi as quickly as possible.
Below are details about the vaults:
BTC Vault ($300 million)
DEX Liquidity: wBTC and LBTC (total $100 million) – directed to Meridian
Lending Liquidity: LBTC (total $20 million) – directed to Echelon
DEX Liquidity: wBTC and solvBTC (total $50 million) – directed to Canopy
Lending Liquidity: solvBTC (total $40 million) – directed to Echelon
-
Lorenzo BTC (managed by Concrete)
DEX Liquidity: wBTC and stBTC (total $50 million) – directed to Liquidswap
Lending Liquidity: stBTC (total $40 million) – directed to MovePosition
ETH Vault ($225 million)
DEX Liquidity: wETH and eETH (total $125 million) – directed to Liquidswap (100% DEX)
DEX Liquidity: wETH and ezETH (total $20 million) – directed to Meridian (100% DEX)
Lending Liquidity: ezETH (total $40 million) – directed to MovePosition (100% Lending)
Lending Liquidity: wETH (total $40 million) – directed to MovePosition (100% Lending)
Stablecoin Vault ($190 million)
-
Ethena Vault (managed by Concrete) total $150 million – directed to Meridian, Movernance, Thunderhead
Vault 1 - USDe - $50 million
Vault 2 - sUSDe - $50 million
Vault 3 - USDC - $50 million
-
USDC-USDT Vault (USDC and USDT) total $40 million – directed to Canopy
Vault 1 - $40 million
MOVE Vault ($6 million)
Coming soon...
The Cornucopia liquidity program has begun accepting deposits. However, this batch of vaults represents only Phase 1 of Cornucopia. Subsequent phases will roll out following the release of the Movement Public Mainnet Beta (coming soon).
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