Larix Monthly Report [May] 2022
We are pleased to share another month of activity from Larix and recap what we have been doing with the Larix community. It has been an extremely difficult time in the markets and it has been rough for people and projects alike. We want to preface this recap by saying we’re still committed to what we have been doing all along — offering you the best financial protocol on Solana.
We are very encouraged by the Larix community as well, regardless of the current broader market sentiment.
And with that, let’s take a look at how we have made an impact at Larix for the month of May.
We have added new pools to the Larix Launchpad and are pleased to expand our launchpad offerings with the following pools: xSOL, LARIX, Step, Stepn. Here is a brief on what these pools look like:
- LARIX Pool: the LARIX pool is an index pool consisting of LARIX, USDT, USDC, and SOL. Participating in this pool also gives extra benefits including earning interest, using LARIX as collateral, and more can be found in a Medium post we shared this month.
- Step Pool: this contains four different assets, namely $STEP, $mSOL, $USDC, and $SOL. Users are incentivized to use the Step pool for $STEP (15 days) & $LARIX (3 days) for Step pool deposits and borrows.
- Stepn Pool: There are five assets in the Stepn pool: $GST, $GMT, $USDC, $SOL, and $mSOL. By Utilizing the Stepn pool, users can borrow $GST/ $GMT to mint more shoes with no borrowing fees! And enjoy $LARIX rewards for 3 days!
In addition to new pools for the Larix platform, we have also finalized and finished the SDK. This allows for new projects to integrate directly with the platform and provide new innovation for both new projects and the Solana ecosystem through the provision of Larix. We are happy to connect with other future projects and grow the ecosystem as a whole.
In light of the past month with issues related to $UST and the Terra ecosystem, we have taken some precautions to help ensure the community is protected on our end the best we can. Part of this was to make a decision to disable $UST deposits and set the collateralization rate to 1%, with the liquidation threshold unchanged.
Repayments and withdrawals are not affected.
Additionally, due to our partner’s technical issue, the $LDO reward for the stSOL pool has been suspended for 3 days. We will update the community on any more changes related to $LDO and related updates on this matter.
Among the updates this month, we are pleased to have partnered with BitKeep Daily. The BitKeep Daily is a service that provides daily news and guides on featured projects that help inform the overall crypto space. If you are looking for more news across the board, BitKeep Daily can provide the information you might need and it goes to help support the Larix community.
In addition, we held an AMA this month with Penguin Finance. The AMA brought some good discussion and was hosted by the CMO of Larix and the BD of Penguin Finance. Penguin Finance is a liquidity and treasury management protocol for Solana projects and it’s great to collaborate with them for the AMA.
We are always excited to share with the community what we are doing and the month of May is no exception. Markets always have their ups and downs, but real projects can be defined by their progress during times like these. Larix is committed to bringing more and more integrations, partnerships, and updates to our users and to being a flagship protocol on Solana.
We are pleased to have the Larix community on board and we can’t wait to share what we will be doing in the upcoming months!