Bribe Protocol’s Vision and Roadmap
First Week Brief 👏
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.
What’s Next? Bribe Protocol’s Vision 👀
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 not stable enough due to unbalanced demand and limited utilization. For example, Fei and AMPL have lost peg because their liquidity incentives are constrained on their isolated platforms. Moreover, with multi-chain ecosystems booming, there are not many use cases of algorithmic stablecoins on chains other than Ethereum L1.
This situation results in
- Inefficient and under-utilized liquidity
- Limited user base
- Lack of yield farming choices
- Oligopoly
- Limited decentralization
The Bribe Protocol Solution
- We are building a multi-chain yield enhancement platform which supports yield farming with algorithmic stablecoins and their LP (liquidity provider) tokens.
- Bribe enables users to provide liquidity to algorithmic stablecoins on a variety of decentralized exchanges, and farm with various versions of liquidity provider tokens in one place.
- Bribe supports multiple chains to cover the needs of frictionlessly migrating algorithmic stablecoins across multi-chain ecosystems.
How it works? 🛠
Bribe Protocol enables users to stake liquidity provider (LP) tokens of algorithmic stablecoins from various DEXes, such as Uniswap/Sushiswap/Curve on Ethereum blockchain, Pancakeswap on BSC, Quickswap on Matic Polygon, MDex on Heco in one platform. Bribe protocol provides a one-stop shop with deep liquidity for all algorithmic stablecoins across multiple EVM-compatible chains. Starting from existing algorithmic stablecoin projects, we incentivize additional liquidity in order to balance the supply and demand, which is one of the root causes of some stablecoins being unpegged. In the meantime, Bribe also helps new innovative algorithmic stablecoin projects to bootstrap the initial liquidity.
From user’s perspective:
- You can find the best yield farming pools to generate passive income with your algorithmic stablecoins
- You can exchange algorithmic stablecoins with other assets using deep liquidity on multiple DEXes
- You can smoothly move your tokens across multiple chains/L2s.
- You can stake BRIBE token to earn a share of protocol fees.
- You can use BRIBE token to vote and make decisions on the protocol that align with everyone’s best interests.
From algorithmic stablecoin project owner’s perspective:
- Bribe helps your community onboard new DEXes, L1 chains or L2s to expand liquidity and user base.
- You can use BRIBE token to submit proposals to whitelist your project, propose new farming pools, or adjust farming rewards on Bribe Protocol
- You can launch new incentives on Bribe farms to give additional rewards to your community.
- You can collaborate with Bribe Protocol to incubate new algorithmic stablecoins and related DeFi products, distribute tokens and incentivize liquidity.
