The Rift Opens: Public Launch Date Announced

The Rift Opens: Public Launch Date Announced

On June 21, Rift will open Vaults for Fantom, Origin, and Aurora to liquidity providers.

Rift is partnering with Fantom, Origin, and Aurora to deepen liquidity for their DAO governance tokens on Ethereum. The FTM, OGN, and AURORA Vaults will open for ETH deposits from the public on June 21 at 2 PM ET. Liquidity providers on Rift earn doubled returns and downside loss protection. LPs will be able to claim a POAP to commemorate their participation in the first Rift Vaults on Ethereum.

Introducing Rift Finance

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.

Vault Details

Rift allows DAOs to customize their protocol-owned liquidity strategy as an alternative to toxic liquidity mining, through the use of APY floors and lockup periods.

Fantom, Origin, and Aurora will open three Rift Vaults each for their governance tokens. These Vaults will vary in APY floors and lockup periods. APY floors for the Vaults will range from 4.5% to 6% and are set as an additional measure of protection for liquidity providers. Now, with the new APY floor feature, DAOs have set higher protection standards to allow LPs to withdraw at least the APY floor in the event the Vault incurs impermanent loss, except in the most extreme cases.

All the Vaults are now available to view on the Rift webapp.

How to Participate

Starting June 21, 2022, at 2 PM ET, the Rift Vaults will open for public deposit. Browse the available Vaults and use the “Earn” portal to deposit ETH into the Vaults.

Do NOT use the “DAO” portal to deposit governance tokens. These positions do not earn yield and are specifically designed for liquidity-motivated DAOs.

Liquidity providers in these Vaults will be whitelisted for an exclusive POAP to commemorate the launch of Rift’s first public Vaults on Ethereum.

Stay Updated

We are excited to be working alongside leading DAOs Fantom, Origin, and Aurora. 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.

We will be hosting AMAs with our DAO partners ahead of the Rift Vaults opening. Follow @RiftFinance on Twitter and turn on post notifications to never miss an update.

We strongly value the freedoms offered by decentralized financial services. However, there is an inherent risk in participating in any DeFi protocol, so please review Rift’s documentation to make sure you understand how the Rift protocol works and the risks associated with using Rift.


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.

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About Fantom

Fantom is a high-performance, scalable, EVM-compatible, and secure smart-contract platform. Fantom’s mainnet deployment—Fantom Opera—is built on Fantom’s consensus mechanism, Lachesis. Fantom is a leaderless, asynchronous, and byzantine fault-tolerant Layer 1 blockchain protocol.

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About Origin

Origin is a protocol for creating sharing economy marketplaces using the Ethereum blockchain and IPFS. It empowers developers and businesses to build decentralized marketplaces on the blockchain. Its protocol makes it easy to create and manage listings for the fractional usage of assets and services.

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About Aurora

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.

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