Bribe Protocol’s first week was brimful of airdrops, yield farming opportunities, and price discovery. We are pleased to see a prosperous community(over 4000 members on Discord), piles of staking(over $5M TVL.), and juicy farming rewards(APY around 2000%). We appreciate everyone’s invaluable contribution and early supporters to make Bribe’s Launch a festive and impressive celebration.
As the first yield farming platform devoted to algorithmic stablecoins, Bribe widely attracts attention from the DeFi world, especially FEI and TRIBE holders. Algorithmic Stablecoins, an innovative and promising sector in DeFi, benefits all investors with price stability in the crypto ecosystem. Yet algorithmic stablecoins are…
As Bribe Protocol aims to bring liquidity and utility to algorithmic stablecoins, liquidity farming is essential to ensuring robust demand. Bribe Protocol chooses FEI, a heated algorithmic stablecoin with high recognition, as a kick-off to launch Bribe Farm and invites all FEI holders to make use of their stablecoins to generate rewarding yields. We together celebrate the fair launch of initial $BRIBE token offering through airdrops and liquidity rewards.
Upon the launch on April 22nd, users will be able to deposit FEI, BRIBE-FEI LP Token, and BRIBE-ETH LP Token in Bribe Farm to earn liquidity mining rewards of BRIBE.
To celebrate the fair launch of Bribe Protocol, we are doing two rounds of airdrops. The first round of airdrop to Fei Genesis participants, Bribe community early supporters and social media rewards will be claimable on https://bribe.money/airdrop right after Bribe Protocol launches.
If you miss the first round of airdrop or want to earn more $BRIBE, we are launching another round of airdrop for early liquidity providers for BRIBE-FEI and BRIBE-ETH Uniswap pools. Please read our previous announcement for detailed rules and schedules.
There are several steps to claim your airdrop:
Click “Airdrop” dashboard on the menu.
The Bribe Protocol team is excited to announce the Bribe token airdrop, which is scheduled to start on April 22nd at 2am UTC. Eligible protocol participants, early community members and contributors are welcomed to claim the $BRIBE token airdrop to celebrate the project launch. The airdrop will happen on Ethereum Mainnet.
Claim Period: April 22nd to April 27th at 12am UTC
Our team has the community’s best interest at heart. By airdropping $BRIBE token, we would like to invite users to earn yields in Bribe Farms and participate in the DAO governance of Bribe Protocol with the governance token.
We believe that community engagement should begin before the project launches, rather than afterward. Bribe Protocol is building a community that manages a variety of DApps governed by a DAO. Our vision is to unite the algo stablecoin communities by improving stablecoin yields, expanding to cross-chain ecosystems, and strengthening DAO governance.
The Bribe Early Contributor program is an initiative to invite community members who are willing to contribute to the protocol in development and operations in the pre-launch and post-launch periods. The objectives include:
Following our previous article about Fei stablecoin, we propose a community-based project, BRIBE, a cross-chain farming and liquidity protocol that brings super-powered utility to FEI and enhance DAO governance. The protocol and Bribe DAO will expand the support to multiple algorithmic stablecoins in the future.
We iterate the challenges of FEI that we analyzed in our previous analysis.
· Excessive supply — $1.3 bn of supply but the real demand is much less
· No exit liquidity — To move FEI out of FEI-TRIBE-ETH loophole into the larger DeFi world, a heavy penalty is enforced
· Insufficient arbitrage opportunities —…
The genesis launch of Fei Lab’s stablecoin protocol marks the biggest launch in DeFi history. The algorithmic stablecoin protocol raised 639,000 ETH, or $1.3 billion at the time of launching, and supplied liquidity to Uniswap’s biggest pool FEI-ETH with $2.6 billion liquidity. However, the moment the project launched, every investor got rekt. In this article, we analyze the problems with FEI, which are also common in other types of algorithmic stablecoins.
We assume that readers of this article have basic understanding of FEI’s mechanisms (if not, please purchase some discounted FEI at Uniswap to participate this grand financial experiment). The…
A one-stop shop for bringing cross-chain liquidity to every algorithmic (un)stablecoin