Rewards are here for Rubicon liquidity providers!
Starting today, Rubicon liquidity providers will start receiving OP rewards! You can now view these rewards on the Pools page in the Rubicon App. It’s time to kick off OP summer with a pool party! 🏊
Last fall, Rubicon was one of the first apps to launch on the Optimism layer 2 (L2) network. As a part of Optimism’s Phase 0 Distribution to early projects, Rubicon received an OP token allocation to bring more liquidity and users to the network! 📈
In total 540,000 OP will be distributed to Rubicon liquidity providers over a period of 6.9 months (209.875 days). This makes our liquidity rewards program one of the largest on Optimism!
Historical Rubicon trading volumes and Total Value Locked (TVL) helped determine the reward amounts for each liquidity pool:
Liquidity providers (LPs) will receive OP rewards proportional to their share of the pool. The Pools page was updated to include a Rewards rate derived from the current price of OP and the rate of rewards:
These OP rewards are separate from and in addition to the standard market-making yields in Rubicon Pools. We hope you enjoy the rewards! 🥳
Rubicon LPs can claim their rewards by selecting a pool and then pressing ‘Claim’:
You can read the exact plan in our Phase 0 proposal that recently passed through Optimism governance. Thank you to all of the OP holders who voted!
In short, liquidity rewards are not the only use of this allocation, we also have a Rubicon Grants Program and an Airdrop to early users coming soon so stay tuned for updates on both of those!
And as outlined in the proposal, 90,000 OP was deposited into our OP pool to bootstrap more liquidity for Optimism’s native token on the Rubicon order books.
Thanks for reading!
Alea iacta est.
(This post is for educational purposes only. Nothing in it should be construed as financial advice. Do your own research before making investments)