Currently, users can deposit selected BTC, ETH, and stablecoin assets into the Cornucopia vault, with the MOVE vault set to open soon.
Author: Movement
Compiled by: Deep Tide TechFlow
The Movement ecosystem has announced the launch of Cornucopia: a year-long initiative aimed at enhancing Movement DeFi liquidity.
Cornucopia symbolizes abundance, harvest, and the immense potential rewards available to all participants. The program is divided into several phases, with the first phase having started last week.
The Cornucopia Concrete Vault and Veda Vault are already open.
Cornucopia Overview
Cornucopia features numerous vaults, categorized into 4 types: BTC, ETH, stablecoins, and MOVE vaults. Concrete and Veda manage these vaults, allowing users to deposit compatible assets. After an 8-week lock-up period, assets will be unlocked and returned to users via the Movement Public Mainnet Beta (coming soon) on the Movement app.
Currently, users can deposit selected BTC, ETH, and stablecoin assets into the Cornucopia vault, with the MOVE vault set to open soon.
Cornucopia Program Goals
The goal of Phase 1 of Cornucopia is to open the doors to liquidity. It aims to create deep liquidity for outstanding developers and the community through these vaults. From day one, Cornucopia has been committed to powering the development of Movement DeFi. The Movement Network Foundation hopes everyone can experience the speed, security, and ease of use of Movement DeFi as soon as possible.
Here is information about the vaults:
BTC Vault ($300 million)
DEX Liquidity: wBTC and LBTC (totaling $100 million) - flowing to Meridian
Lending Liquidity: LBTC (totaling $20 million) - flowing to Echelon
DEX Liquidity: wBTC and solvBTC (totaling $50 million) - flowing to Canopy
Lending Liquidity: solvBTC (totaling $40 million) - flowing to Echelon
- Lorenzo BTC (managed by Concrete)
DEX Liquidity: wBTC and stBTC (totaling $50 million) - flowing to Liquidswap
Lending Liquidity: stBTC (totaling $40 million) - flowing to MovePosition
ETH Vault ($225 million)
DEX Liquidity: wETH and eETH (totaling $125 million) - flowing to Liquidswap (100% DEX)
DEX Liquidity: wETH and ezETH (totaling $20 million) - flowing to Meridian (100% DEX)
Lending Liquidity: ezETH (totaling $40 million) - flowing to MovePosition (100% Lending)
Lending Liquidity: wETH (totaling $40 million) - flowing to MovePosition (100% Lending)
Stablecoin Vault ($190 million)
- Ethena Vault (managed by Concrete) totaling $150 million - flowing to Meridian, Movernance, Thunderhead
Vault 1 - USDe - $50 million
Vault 2 - sUSDe - $50 million
Vault 3 - USDC - $50 million
- USDC-USDT Vault (USDC and USDT) totaling $40 million - flowing to Canopy
Vault 1 - $40 million
MOVE Vault ($6 million)
Coming soon…
The Cornucopia liquidity program has begun accepting deposits, but this batch of vaults is just the first phase of Cornucopia. Subsequent phases will be gradually rolled out after the release of the Movement public mainnet test version (coming soon).
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