TM Rating: 76% |
Review Date: January 11, 2022
LiquidDriver is a liquidity mining dApp providing liquidity-as-a-service in the Fantom ecosystem. It aims to bring its users more utility, rewards, and long-term benefits through the native token LQDR, and ultimately become the leading liquidity-on-demand platform for dApps on the Fantom Opera Mainnet.
Its features include farms, allowing users to stake their SpiritSwap, SpookySwap, and Beethoven-x LP tokens to earn LQDR as a reward, vault strategy, meaning LP tokens staked in the protocol pools are deployed to strategy contracts and staked in their partners pools to generate yields, which are then redistributed to xLQDR holders through the revenue-sharing Vault as weekly rewards in the form of various tokens of the ecosystem. Other possible actions of the protocol users are lock LQDR to generate xLQDR, the yield-producing vested version of LQDR, or burn LQDR to buy lottery tickets and win a share of the jackpot prize, increasing at the same time the rate at which LQDR is burned.
LiquidDriver aims to become a central piece of the Fantom DeFi ecosystem. They already partnered with 3 leading DEXs on Fantom: SpiritSwap, SpookySwap and Beethoven-X. This collaboration is useful for both the exchanges and LiquidDriver as it allows achieving different objectives, such as increasing the TVL on the DEX while giving more utility to LQDR holders, reduce the inflation required to incentivize new LPs, drive the liquidity where it’s needed, and provide xLQDR holders with weekly yields in various tokens.
Following a first iteration, they launched a V2 model of on-demand liquidity-as-a-service, to incentivize LPs for their partners, farm with funds staked in their pool, and redistribute the rewards to xLQDR holders, and it has been a success. They now have started transitioning to V3 in several phases over the Q1 of 2022. Next phases will introduce Shadow Farms – new more advanced strategies that compound into staking, leveraged farming, new Beethoven-x pools and leveraged farming.
