Larix Monthly Report [Mar] 2022
It has been another exciting month for Larix and we have been busy bringing the best to the community and to the Larix protocol. Being the first Solana lending protocol on the market, it's crucial that we give the best experience and growth possible. This leads to fruitful celebrations in the form of integrations, partnerships, and growth that we get to share.
Let’s take a look at all the great things that we have accomplished this March.
We have an incredible amount of partnerships and integrations for Larix that are worth discussing. It has been a stellar month and Larix is now supported in more places than ever, through wallets, exchange listings, and platform integrations.
For new supported tokens on the platform, we are pleased to integrate the UST token on the Larix platform. The integration began with a 38% supply APR and borrow rate of -33% for all users. This will be the highest supply APR and also the lowest APR rate available at the time it goes live. For users of Larix, this is accompanied well by having no borrowing fees on the platform.
We will also be integrating a new function on the site called the Lending Launchpad and increasing functionality for all users. The Lending Launchpad is a new feature that offers isolated asset pools for SPL tokens, enabling more options for tokens to be used for lending. Additionally, we have a process for new listings to be added so we can continue to grow the launchpad and offer the coins people want the most!
Another huge integration was joining forces with Chainlink and taking advantage of some of its tools. An article was published in accordance with the announcement and we expect a full rollout of this integration soon.
Other partnerships and integrations include our partnership with SonarWatch, where users can track yield farming and liquidity pool performances; and the launch of LARIC-USDC LP on Invictus DAO.
We have also been supported by three new wallets that help extend our reach: Clover Wallet, Huobi Wallet, and StrikeX. Clover Wallet is a completely open-source multi-currency wallet that is made available in any web browser. StrikeX allows you to have fiat on and off ramps while taking advantage of cross-chain swaps. Together we have a great trio of integrations with wallets.
Our growth has included many partnerships but we have been growing internally as well. First, we had two voting options that have resulted in various outcomes. The first was a governance proposal for LARIX to be approved for staking at a rate of 80.9% and this was approved. The second vote was feedback on how DeFi is used. Most people mentioned they use it for borrowing and supply, which helps us track our growth for options in the future.
We also launched two campaigns that helped focus on the growth and utility of the Larix platform and both of them generated great success. One campaign was the distribution of the Larix UI 2.0 event where we released a new version for the overall improvement and ease of use for the dashboard. As part of this event, we gave out LARIX to those that submitted their SLP address and the winners have been selected. Our second campaign was a borrowing contest on the Larix platform where we gave away 60,000 Larix tokens and it was a massive success.
Additionally, we created two educational updates: one on how to increase returns for liquidity mining returns and another on how to use Larix for risk-free yield farming.
We have also been hard at work around the community and making Larix grow through various outreach events. We now have a new dashboard on Dune Analytics that shows the active users, daily transactions, and much more on the Dune Analytics dashboard page. Additionally, we have reached out to the community in many ways:
- A $3,000 offering via a bug bounty to help encourage a healthy platform
- AMA with Huobi for the Huobi Wallet integration via Twitter Spaces
It has been a jam-packed month of activity from partnerships to support from both inside Larix and from the community. We are thankful for all the support we have received from the community. We are striving to be a stronghold for the lending community on the Solana blockchain and we are committed to bringing more updates in the following month.