GoldLink Expands Rewards Program: Now Supporting Borrowers and Increasing Lender Rewards
Starting September 2nd, 2024 GoldLink borrowers will receive a weekly bonus in Arbitrum rewards boosting APY +10% at current utilization rates.
Following the successful launch of our lending rewards program, we’re excited to announce significant updates that will further benefit our GoldLink community. With the continued support of the GMX DAO Grant, we’re thrilled to expand our rewards program to include borrowers, alongside increasing the cap and rewards for our lenders. These enhancements are designed to reward our earliest users and attract new participants as we continue to scale the protocol.
New Borrower Rewards Program
Starting this month, we will begin weekly distribution of 1,250 ARB to borrowers who have opened positions on our platform. Rewards will be allocated based on the proportional size of the positions held within the GMX funding rate farming strategy. This initiative is part of our ongoing commitment to provide value to all users of the GoldLink platform, recognizing the importance of lenders and borrowers in our ecosystem.
With the rewards bonus, borrowers will receive a +10% APY bonus on borrowed assets distributed in ARB tokens at current utilization rates. At max leverage (4x), this means borrowers will receive a +40% APR on collateral deposited on top of funding rate earnings. We’ll scale the rewards proportionally as utilization increases to incentivize further borrowing activity and subsidize borrow costs and fees associated with trading in the strategy.
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Increased Lender Rewards
We’re proud to announce that we’ve hit our initial lending goal of $1M in deposits within our GMX funding rate farming strategy. This milestone reflects the growing confidence in our platform, and in response, we are increasing the lending pool TVL cap to $2.5M.
To further incentivize participation, we’re also doubling the weekly rewards for lenders. This means that, in the future, lenders will benefit from an increased share of the ARB rewards, distributed in line with the new TVL cap. With these adjustments, we aim to continue attracting new capital and users while ensuring that our earliest supporters are rewarded as we scale.
What You Need to Know
Borrower Rewards: 1,250 ARB will be distributed weekly to borrowers based on the proportional size of their open positions throughout the week.
Increased Lending Cap: The lending pool TVL cap is now $2.5M, allowing for more participants and greater overall returns.
Doubled Lender Rewards: Weekly ARB rewards for lenders will be doubled, providing even more incentive to participate in our GMX funding rate farming strategy.
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.
Get Started
To participate in our expanded rewards program, simply deposit into our GMX funding rate farming strategy or open a borrowing position. Weekly claims and detailed reward breakdowns will be available on our website, ensuring full transparency and ease of access.
As we continue to grow, we invite you to stay connected with our community through Discord and Telegram. For any inquiries or support, reach out to us on X/Twitter or Discord.