We are thrilled to announce the first cohort of DAOs to join the Rift ecosystem on Aurora. Trisolaris, Flux, and NearPad are the first to use Rift to accelerate the growth of their DAOs using Rift’s novel protocol-owned liquidity solution. With Rift, DAOs are able to achieve sustainable liquidity for their tokens in a single transaction. Today we are also proud to release our new Rift Webapp, where anyone can explore the active vaults in the Rift ecosystem.
What is Rift?
Liquidity mining is a toxic process that aims to solve a critical pain point for DAOs but falls short. Instead of sustainably deepening governance token liquidity, liquidity mining forces DAOs to deplete their treasuries to mercenary capital, pushing market cap and token price downward at the expense of community members.
Rift has developed a novel solution to this prevalent problem. By rethinking the incentives around liquidity provisioning, Rift allows profit-motivated liquidity providers and liquidity-motivated DAOs to work collaboratively, deepening token liquidity while offering LPs amplified returns and impermanent loss protection. DAOs deposit their governance tokens into a Rift vault which is then paired with capital from LPs and deployed to a DEX to increase liquidity for the pair.
This week Rift deployed V2 of the Rift Protocol to Aurora, the Ethereum Virtual Machine built on the NEAR protocol, following the close of our $50M TVL capped beta on Ethereum. We are proud to be supporting the growth of Aurora and its vibrant ecosystem of DAOs and builders. We’ve seen tremendous demand for a sustainable liquidity solution from Trisolaris, NearPad, and Flux, as well as several other DAOs on Aurora. Over the coming months, Rift will be expanding its liquidity infrastructure to more DAOs on Aurora and other blockchains. If you are interested in using Rift for your DAO, please submit interest through this form.
We are excited to be working with such a strong initial cohort of DAOs. Trisolaris, NearPad, and Flux have seen incredible success already and by deploying their treasuries on Rift, they will be able to refocus their token incentives on promoting DAO goals, rather than auxiliary requirements like DEX liquidity management.
Ask Us Anything!
Rift will be hosting AMAs with our Aurora partners via Twitter Spaces over the next two weeks. Add the events to your calendar below!
Enter the Rift
Rift Vaults for Trisolaris, Flux, and NearPad are now live on our new webapp! Stay up to date on the expansions of the Rift ecosystem by following us on Twitter. The Rift Vaults will open to waitlisted users in the coming weeks. Liquidity providers will soon have the opportunity to earn double rewards on their NEAR deposits and reduce their risk of impermanent loss.
About Rift Finance
Rift is a decentralized protocol that restructures incentives to improve liquidity across DeFi.
Today’s liquidity structures are parasitic to DAOs; they drain DAO treasuries and shrink market caps. 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, Terra, Fantom, and Injective, utilize Rift to unlock sustainable liquidity.
Trisolaris is a community-owned decentralized exchange (DEX) with fast settlement, low fees, and a democratic governance process. Built on NEAR’s Aurora EVM, Trisolaris is building the one-stop shop for DeFi on NEAR!
Flux allows any smart contract to connect with crowdsourced, API-based, and price-feed data. Flux brings this data on-chain using a sophisticated validation and dispute mechanism that relies on economics principles to keep validators honest.
Flux is backed by world-class investors such as Distributed Global, Coinbase Ventures, Reciprocal Ventures, CoinFund, Maven 11, Flow Ventures, among others.
A launchpad, DEX Aggregator, and Yield Aggregator all in one. NearPad is changing the way communities and developers access open finance tools for crowdfunding, asset management, and yield optimization. The platform will also be the first DAO-led protocol on Aurora by giving its community complete control over how treasury and public funds are utilized for the ecosystem.
Aurora is an Ethereum Virtual Machine built on the NEAR Protocol, delivering a turn-key solution for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable and future-safe platform, with low transaction costs for their users. Aurora is backed by top VCs such as Pantera Capital, Electric Capital, Dragonfly Capital, Three Arrows Capital, and Alameda Research.