Hi everyone, I’m Georgios Vlachos, representing Axelar Foundation. We are thrilled to support Lido’s expansion across ecosystems!
To demonstrate our commitment and long term alignment with the Lido community, and support the growth of wstETH and other stAssets across chains, Axelar Foundation will commit a total of 10,000,000 AXL (1% of genesis supply, $3.35m at current price). These AXL tokens should be utilized for the following intended purposes over the course of multiple years:
- To support the adoption of wstETH and wstETH-based DeFi on Neutron
- To support the adoption of wstETH and wstETH-based DeFi across the larger Cosmos ecosystem
- To support the adoption of any stAssets issued by Lido Protocol on any chains where Lido DAO has sanctioned Axelar to provide bridging products or services to users.
The 10M committed AXL tokens are allocated as follows.
- Productive AXL Deployment on Neutron
1,000,000 AXL (10%) will go towards liquidity mining incentives on Neutron. These tokens will be paired with NTRN tokens from LiquidSig and provided as AXL-NTRN liquidity on Astroport. The resulting LP tokens would become available to be distributed as incentives linearly over the following twelve (12) months.
- Ecosystem partner allocations
1,000,000 AXL (10%) will go towards liquidity mining incentives on Osmosis and Injective each (for a total of 2,000,000 AXL (20%)) over the next twenty-four (24) months.
- Other ecosystems
5,000,000 AXL (50%) will go towards liquidity mining incentives on other mutually agreed upon chains where Axelar is chosen by Lido as the bridge for the wstETH asset. In addition, if this condition is met, a further 2,000,000 AXL tokens will be allocated to be distributed on Neutron over the following 12 months period. These incentives will be emitted so long as Axelar remains the bridge solution enabled by the Lido DAO on a given, mutually agreed upon chain.
For these allocations, incentivized pairs should include wstETH-ETH, wstETH-Stablecoin and other jointly agreed upon pools.