Sushi Swap, a multichain automated market maker (AMM) has added liquidity incentives to its Polygon instance. Liquidity providers will receive $SUSHI and $MATIC rewards for the following pools:
ETH-MATIC
ETH-WBTC
ETH-USDC
ETH-USDT
ETH-DAI
ETH-AAVE
We’ve seen how fast incentives can grow total value locked (TVL), as Aave grew from $20m to over $2.8b in just 3 weeks when they provided $MATIC rewards on Polygon. Currently, Sushi will seek to grab market share from Quick Swap and Comethswap, two Uniswap clones that exist on Polygon. Sushi is clearly going after Quickswap and has made it very easy for LP’s on Quickswap to migrate liquidity with the click of a button, and TVL is already over $350m.
The combination of Aave, Curve, and Sushi now offering $MATIC rewards is pushing Polygon to the top of the Ethereum side chain race as we kick off layer 2 DeFi summer.
CompliFi is an on-chain leveraged derivatives protocol that allows traders to go long/short on WBTC, ETH, LINK, and UNI with the initial launch. CompliFi relies on liquidity, in the form of USDC, to create these derivative products and thus requires LPs to add USDC to the protocol. In order to incentivize liquidity, COMFI rewards are being offered at a very generous rate.
Pools are straightforward; supply USDC in any of the pools and stake LP tokens in the farm tab. There is a pool 2 option for those who want to take risk on the COMFI price and impermanent loss. The COMFI-ETH pool on Uniswap is currently >100,000% APY!
Warning 1: Only 1/3 of earned COMFI tokens are claimable initially, while the remaining 2/3 will be vested for a period of time.
Warning 2: Layer 1 farming is very expensive. It cost $435 (in ETH fees) for me to borrow USDC from Aave, deposit it into CompliFi, and stake my LP tokens.
Full details here: Medium Post