We are thrilled to announce the launch of Hyperdrive Miles, the native rewards program of the Hyperdrive Protocol. This program distributes extra incentives to liquidity providers (better known as LPs) for fueling the liquidity that powers DeFi’s fixed-income primitive.
Hyperdrive is an automated market maker (AMM) designed to enable the creation of fixed-rate markets on top of diverse yield sources, such as wstETH, rETH, sDAI, and sUSDe. By creating a deep liquidity network that encompasses all on-chain yield sources, Hyperdrive is building the fixed-income primitive for DeFi.
Liquidity providers play a key role in building Hyperdrive’s fixed-income markets, and with the first phase of Hyperdrive Miles, LPs can access additional rewards on top of their regular APY.
Miles are distributed weekly based on liquidity provision to certain pools, with some specific pools carrying more weight in Miles allocation than others.
Liquidity providers who have been active since Hyperdrive's early days will be rewarded with Miles during the first distribution in January 2025.
How to Unlock Future Rewards
Accumulated Miles are forever associated with the corresponding address. Miles cannot be transferred or traded between users.
As key stakeholders, LPs earning Miles can benefit from potential future rewards, emphasizing their role in shaping the future of the protocol.
Build on Top of Hyperdrive
This is a unique opportunity for developers to build new platforms and leverage the Hyperdrive Protocol’s key fixed-income markets.
As the owner of the Hyperdrive Protocol instance, ElementDAO’s Discord server is where you can stay updated and connect with other contributors exploring and building on Hyperdrive.
If you're building a front-end and considering becoming an affiliate, join the server or email info@hypervue.xyz to connect directly with the HyperVue Foundation and apply for an affiliate reward of up to 10% on Miles.
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Hyperdrive Miles’ initial season is expected to run for one quarter.
Access to Hyperdrive Miles is currently governed by the eligibility criteria of Hyperdrive Protocol. Specific locations are blocked.