TechFlow News — DeFi incentive protocol Fluidity announced a $1.3 million seed funding round led by Multicoin Capital, with participation from Circle Ventures, Solana Ventures, Lemniscap, NGC Ventures, Skyvision Capital, Bitscale, Koji Capital, Meld Ventures, Grug Capital, and others.
Fluidity aims to solve utility issues in DeFi by introducing a novel incentive mechanism that rewards users for on-chain transactions. Users deposit stablecoins into the protocol and receive wrapped assets at a 1:1 ratio. The yields generated from deploying these stablecoins into DeFi protocols are distributed based on the frequency of users' usage of the wrapped assets, aiming to enhance asset utilization efficiency.Read more
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