GoldLink Arbitrum Rewards Program: 75,000 ARB Up for Grabs!
Starting June 30, 2024 GoldLink lenders will receive a bonus APY in Arbitrum rewards, increasing up to 20%.
We are thrilled to announce the launch of our rewards program for GoldLink users, supported by a grant from the GMX DAO! As one of our earliest supporters, we’re happy to continue partnering with GMX to distribute 75,000 ARB to lenders within our flagship GMX funding rate farming pool. Read below for more details on the program and to learn how to get involved.
What You Need to Know
Starting June 30th, GoldLink will begin distributing 75,000 ARB to lenders who have deposited in our GMX funding rate farming strategy. Rewards will be distributed weekly, with the total weekly distribution set based on the lending pool TVL cap. As the pool's TVL increases, the rewards distributed will increase proportionally.
What is the GMX DAO Grant?
GMX DAO recently announced their latest grants program, allocating 600K ARB to projects well positioned to advance the adoption of Arbitrum and GMX V2. Out of the total 600K, GoldLink has been allocated 75,000, of which 100% will be distributed to the GoldLink community.
Program Goals
As we prepare to exit beta, we’re excited to provide additional incentives as we scale the protocol and our initial GMX strategy. With this additional boost, we hope to achieve the following goals:
The additional ARB incentives will allow us to scale our lending pool effectively as we gradually increase the strategy TVL cap over 12 weeks. With the additional rewards, we aim to attract new capital and users on the lender's side of the platform.
Along with the benefit to lenders, as we onboard additional capital, we will be able to remove any bottlenecks associated with high utilization or increased borrow APY as we onboard new traders. The lower utilization rates will result in lower borrow rates, increasing overall capital efficiency and returns.
How It Works
Weekly Rewards: Each week, lenders will be able to claim their share of the ARB rewards directly on our website at app.goldlink.io
Proportional Distribution: Rewards will be distributed based on the share of total deposits a lending position represents over the course of the week. Users will see a detailed breakdown of the rewards distributed and their individual share.
Program Length: The program will continue until the full 75,000 ARB have been distributed. Participants can track the remaining share and distribution timeline within the claims dashboard.
Get Started
To participate in the rewards program, deposit into our GMX funding rate farming strategy and start earning your share of the weekly rewards. Weekly claims and detailed reward breakdowns will be available on our website, ensuring transparency and ease of access.
For the latest updates, join our communities on Discord and Telegram. To get in touch with the team, message us on X/Twitter or through email at info@goldlink.io