Avalanche’s newly launched liquidity mining incentive program has been expanded to include Sushi, one of the largest DeFi applications by total value locked (TVL) and trading volume. According to a blog post published on 24 August, the Avalanche Foundation and Sushi have each allocated up to $7.5 million of liquidity mining incentives set to be distributed over a three-month period. The incentives will take the form of AVAX and SUSHI rewards, with the exact date of the program to be announced soon.
Emin Gün Sirer, the Director at the Avalanche Foundation, said that combining Sushi’s community-driven protocol with Avalanche’s high-performance capabilities will enhance the overall experience both for Sushi and Avalanche users.
Avalanche said Sushi is a perfect addition to its Avalanche Rush program, as it has solidified itself as a DeFi Blue Chip. The AMM-based DEX has gathered over $5 billion in assets only a year since its launch and has been deployed across 20 different blockchains. Among them, Avalanche is uniquely positioned as it’s one of the few chains that will provide SUSHI incentives outside of the Ethereum mainnet.
Aside from Sushi, the Avalanche Foundation will work closely with Aave, Curve, StakeDAO, and BENQI as part of its Avalanche Rush program to provide interoperable farming, mining, and lending solutions.