6% APY on your ADA — how does it work?
• When your ADA is not being used: it remains delegated to your pool and you continue receiving staking rewards; Fluid will add extra rewards to bring it up to 6%.
• If your ADA is being used: your APY increases over time, and if it is below 6%, Fluid will cover the difference.
Why?
Many users don’t use DeFi due to lack of incentives or because they simply prefer traditional staking — and that needs to change.We’re offering incentives for you to explore DeFi, test the platform, and get rewarded for it. We hope you fall in love with Fluid and stay with us.
Why should that need to change? To the benefit of whom?
So, this is quite openly an unsustainable teaser that will be cancelled as soon as the reserves financing it run out?
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To the benefit of Cardano Ecossistem, if TVL improve Cardano will draw liquidity.
No, the incentives is about 3 months, after that more cardano holders will have a bit experience about Fluid Tokens and how it works
But why the f?!?
The reason for crypto ecosystems existence is to serve as a platform for finance. To be independent. That the amount of “value” that is locked that is not in the control of their owners has become a cornerstone of assessing ecosystems is just a despicable perversion of brainless gamblers.
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Wow, that’s a bit radical.
The thing is you don’t need put all your ADA in Defi, but if cardano wants survivel need improve metrics like daily transactions / active address, introducing Defi to holders is a real way to bring lending and borrowing engines that are decentralized, need tx fee for the good of blockchain, and we are talking about deterministc and pre validated smart contracts in cardano. Also, the ADA when is idle stay delegated to the SPO, and when are in usage it gives liquidity for users.
If we don’t create a education and teaching cardano holders to use Defi, Cardano could die.
If Cardano can only survive if users are misinformed and lured into locking their money in DeFi gambles, then it deserves to die.
I think that is a bit radical vision, and imo blockchain is about being permissioless and Defi is a pretty good use case of blockchain.
All I’ve seen as “DeFi” up to now is pretty useless and worthless bullshit, far less permissionless than advertised, with the only use case being another layer of betting on top of the gamble that token trading already is.
I don’t entirely disagree, but to me it’s a mistake not to incentivize holders to learn about and contribute to the ecosystem where they could feel comfortable.
Defi has some cases that could be more atractive than stake