Alchemix Enters Hercules’ Liquidity Sphere - $1,000 in Rewards Await
Despite waves of market volatility, 2024 has been one of the most monumental years in crypto. Within the past nine months, we’ve seen some of the most innovative narratives take place, especially in DeFi. For Metis, innovations have also taken off thanks to the introduction of the Hercules DEX and liquidity layer. Since the launch of Hercules, protocols have benefitted from increased liquidity across the board. This has made Hercules both the new DeFi epicenter of Metis, and the ultimate liquidity solution for projects on chain.
As we embark on our quest to transform the Metis ecosystem, we are happy to announce Alchemix’s foray into the deep liquidity sphere of Hercules!
Hercules x Alchemix — Entering Metis’ Liquidity Sphere
Hercules’ new pact with Alchemix is designed to promote both platforms within the Metis ecosystem while also fostering a deep line of liquidity for the Alchemix protocol! This will promote increased trading volumes, ample liquidity, and protocol stability for Alchemix as well as boosting overall exposure for both projects!
Join the Hercules x Alchemix Nitro Ignition Campaign
Looking to earn some rewards? Look no further because a quest awaits you, hero! From September 26th to October 10th, Hercules will be running a nitro ignition campaign that will incentivize users who add liquidity to the Alchemix pool on HerculesDEX with a total reward pool of $1,000 of yield-earning LP position from the alETH-alUSD pool Steer Vault.
*A Yield-Earning LP position is a stake position NFT (spNFT) that is farming both TORCH and xTORCH. This allows users to stake their spNFT into Alchemix’s alETH-alUSD nitro pool. The Yield-Earning LP is given with a locker of 15 days, allowing the user to earn an APR from both the farming and nitro pool. At the end of the locking period, the user can unlock the position and claim the extra rewards (TORCH and xTORCH).
How to participate:
Participants can join the campaign through a series of tasks via the THX platform on Hercules:
The campaign can be accessed on the Hercules website as pictured above!
Your journey to greatness starts here.
Conclusion
By solidifying our position as the premier DEX and liquidity layer on Metis, Hercules continues to fuel DeFi innovation while fostering seamless collaboration between projects. This commitment ensures an unmatched user experience, reinforcing our role as the backbone of the Metis ecosystem.
What is Alchemix?
Alchemix is an innovative new Lending & Borrowing solution that’s transforming the way users interact with crypto loans by integrating DeFi’s first-ever “Self-Repaying” loan. This new innovative take on L&B allows users to earn a yield on their deposited collateral while having access to their loan. Through this newly intuitive system, users can borrow on their future yields, spend their existing earned yield, and save for their yield for future DeFi opportunities. Another exciting feature of Alchemix is that it will never liquidate deposits unless done so manually, this offers additional flexibility and peace of mind to users.
At the time of writing, Alchemix allows users to deposit popular assets such as ETH, WSTETH, RETH, USDT, USDC, and DAI as collateral.
About Hercules
With a composable, efficient liquidity protocol featuring seamless swaps, staking, real yield, and a launchpad, Hercules aims to become the native liquidity layer for the Metis Andromeda network. Its flexible features are tailored to protocol-owned liquidity, allowing dynamic fees and customizable incentives packaged in a user-friendly interface.
