Polygon and Atlendis recently joined hands to announce a MATIC rewards program. The program has been established to distribute over 132,500 MATIC in rewards.
It will incentivize LPs (liquidity providers) on Atlendis by providing them MATIC on eligible pools. Customers can earn MATIC in addition to their standard interests generated from depositing assets into liquidity pools and staking their NFTs into a contract.
The previous Atlendis protocol V1 was successfully launched on the Polygon network in June 2022. It helped Altlendis users access Polygon’s cost-efficient transactions. Since its launch, the platform has been adopted across four borrower pools and 2,600+ lenders.
It has also amassed a total value locked (TVL) of 1.5 million dollars, while its all-time loan generation amounts to 2.5 million dollars. The MATIC rewards program is planned to last six months, starting from October 11.
After its launch, lenders who deposit in the Atlendis pools will gain additional MATIC rewards by locking NFTs. For every deposit, they will earn an NFT that represents their position. The NFT can be leveraged in the new staking contract by Atlendis to earn additional MATIC. Pessimistic recently audited the staking program to ensure its reliability and security.
Once the lockup period concludes, the rewards will be shared with the participating wallet addresses. The rewards will be proportional to the liquidity offered on Atlendis and the duration of the lockup.
Alexis Masseron, the CEO and Co-Founder of Atlendis Labs, talked about the launch. As per Alexis, the Atlendis team is delighted to launch the program to incentivize users, motivating them to become more active.
The development will help Atlendis generate yield opportunities for users who trust in DeFi, added Alexis.