INFINIT Unveils Rewards System and Ecosystem Protocols to Promote Decentralized Finance Engagement
Bangkong, Thailand, October 16th, 2024, Chainwire
INFINIT is proud to announce announces the launch of the INFINIT Rewards System and INFINIT Ecosystem Protocols, designed to encourage community involvement in building a decentralized finance (DeFi) abstraction layer and enabling decentralized ownership within the INFINIT framework.
The INFINIT Rewards System introduces INFINIT Stones, which are points reflecting a user’s contribution to the INFINIT Ecosystem Protocols. They also represent the user’s ownership stake in the INFINIT protocol.
Users earn INFINIT Stones by participating in DeFi activities within the INFINIT ecosystem. These activities span multiple protocols, known as INFINIT Ecosystem Protocols, and include borrowing, lending, and providing liquidity (while holding the LP token) through leading DeFi projects such as Pendle, Avalon, Silo Finance, and INIT Capital. Each activity earns Stones at a different rate, which users can track via the rewards dashboard on INFINIT website beginning October 16th.
INFINIT Ecosystem Protocols
Established chains looking to drive interoperability among existing protocols, growing chains hoping to accelerate the growth of DeFi ecosystems, and upcoming chains trying to bootstrap DeFi primitive protocols can integrate the INFINIT protocol to streamline development and scaling.
INFINIT is designed to make building, deploying, and scaling decentralized applications (dApps) easier and safer. The protocol already powers multiple dApps, such as INIT Capital, Ethena, Etherfi, and Renzo, and it also plans to integrate with more, including Pendle, Solv, Lombard, Symbiotic, Silo Finance, and Avalon.
These 10 dApps form the INFINIT Ecosystem, their combined scope including a wide variety of primitives: yield trading, BTCFi, restaking, liquid restaking, money markets, and stablecoins. Each of these protocols will be uniquely integrated into the INFINIT framework to benefit users.
In the next phase, INFINIT will be adding the INIT Module in Early Access. The module will give developers access to advanced capabilities like flash borrowing and multi-silo positions. These are tools that facilitate the creation of complex yield strategies like one-click looping and margin trading in dApps. INFINIT also plans to include the Pendle Module for developers to utilize Pendle’s smart contracts and implement yield trading functionality in their dApps across the integrated chains.
More protocols and collaboration angles will be revealed in the following phase. By bringing diverse protocols together and facilitating their integration, INFINIT is creating an ecosystem where it’s increasingly easier to build DeFi applications. This is driving innovation by enabling new combinations of DeFi primitives, which enhance the functionality available to users.
In this ecosystem, the more users interact with protocols, the more Stones they accumulate, which represent points in the rewards system. This accumulation enhances their rewards as well as their stake in the INFINIT protocol. The aim is to reward active participation and encourage users to explore and utilize the full range of DeFi services available within the ecosystem.
About INFINIT
INFINIT is a DeFi abstraction layer designed to streamline the development and scaling of dApps. It abstracts away the complexities of launching and scaling DeFi protocols by providing builders with the essential building blocks for different kinds of applications, such as money markets, DEXes, perp DEXes, and yield protocols..
Users can discover more about INFINIT on the website as well as X and Medium.