Aurigami Partners with Rift to Launch $PLY

Aurigami Partners with Rift to Launch $PLY

Aurigami will launch its governance token today using Rift’s liquidity infrastructure. This partnership allows Aurigami to support their community by ensuring liquidity for $PLY at token genesis. Rift has now worked with over 10 DAOs and this is the second DAO choosing to not only create sustainable liquidity for their community, but to launch natively using Rift.

What is Aurigami?

Aurigami is a decentralized, non-custodial money market protocol on Aurora.

As the primitive money market on Aurora, Aurigami serves to complement both existing and emerging DeFi protocols to bootstrap the ecosystem’s growth. Money markets serve as the core foundation of all financial economies and with Aurigami, assets on Aurora can be utilized more strategically and efficiently. Idle assets can be turned into interest-bearing auTokens, leverage can be achieved through collateralized borrowing, borrowed funds can be deployed elsewhere for additional yield.

The beauty of DeFi lies in its composability, and Aurigami unlocks further liquidity and flexibility of funds. Just like the art of paper folding, they bring together various points within the Aurora ecosystem and together, the end product becomes way more than the sum of its parts.

Liquidity is King

Maintaining liquidity for governance tokens is a costly process for DAOs and a complicated process for liquidity providers seeking yield. Currently, the standard is for DAOs to rely on liquidity mining to incentivize deposits on decentralized exchanges (DEXs). However, this solution is unsustainable as it shrinks treasuries and puts governance tokens into the hands of mercenary capital who are looking to quickly realize their gains. This results in high entrance costs and low participation incentives, making it hard for new community members to join. Over time, mercenary capital can end up yield-farming projects to extinction.

What is Rift?

Rift allows DAOs to achieve sustainable liquidity in decentralized exchanges without resorting to harmful alternatives. We believe DAOs should focus their token incentives on promoting the DAO's goals, rather than auxiliary requirements like DEX liquidity management. The Rift Protocol allows DAOs to deploy governance tokens from their treasuries to pair with tokens from liquidity providers. By working together, DAOs receive the liquidity they seek and LPs receive double returns and reduced risk. As a result, both parties are able to achieve their goals in a way that they would not be able to alone.

Rift is tremendously proud to be supporting the launch of the Aurigami token, $PLY, today. We believe that DAOs enabled by human-centric collaboration have the potential to become some of the most powerful organizations in our new, internet-native society. It is our mission to build infrastructure that supports DAOs at all stages of growth wherever they exist. We are proud to be the tool bootstrapping the liquidity for the new $PLY token to enable community participation.

Instead of depositing both NEAR and PLY into the pool on Trisolaris, Aurigami will deploy $PLY from their treasury to the PLY:NEAR Rift Vault. This initial deposit of PLY will be paired with NEAR deposited from Proximity Labs.

Upon activation, Rift will be the first to deposit to the PLY:NEAR liquidity pool on Trisolaris. This allows the Aurigami team to set the price at a valuation determined by the core team and deploy the pool with significant liquidity. This will allow the Aurigami community to begin trading $PLY with minimized price impact.

Aurigami Token Launch

PLY will be launching on Trisolaris, the leading decentralized exchange on Aurora, at 1:00 PM UTC on May 5th. Aurigami has partnered with leading protocol-owned liquidity solution Rift Finance to provide $1.5mm in liquidity in the PLY/NEAR pool on Trisolaris. This creates a liquidity floor while organic liquidity develops over time.

Learn More

Join us for Rift Office Hours with the Aurigami team this Friday, May 6! We'll be chatting about the Rift x Aurigami partnership and answering questions from our community. Event kicks off in the Rift Discord Main Stage at 10 AM ET.


About Rift Finance

Rift is a decentralized protocol that restructures incentives to improve liquidity across DeFi. The Rift Protocol allows DAOs to deploy governance tokens from their treasuries to pair with tokens from liquidity providers. By working together, DAOs receive the liquidity they seek, and LPs receive double returns and reduced risk. DAOs across several leading Layer 1 blockchains, including Ethereum, NEAR, Terra, Fantom, and Injective, utilize Rift to unlock sustainable liquidity.

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About Aurigami

Aurigami is a decentralized, non-custodial money market protocol on Aurora.

As the primitive money market on Aurora, Aurigami serves to complement both existing and emerging DeFi protocols to bootstrap the ecosystem’s growth. Money markets serve as the core foundation of all financial economies and with Aurigami, assets on Aurora can be utilized more strategically and efficiently. Idle assets can be turned into interest-bearing auTokens, leverage can be achieved through collateralized borrowing, borrowed funds can be deployed elsewhere for additional yield.

Website | App | Twitter | Discord | Telegram Channel | Telegram Announcement