Given the success of EOS DeFi Incentive Program, the EOS Network Foundation has decided to extend the Yield+ with another 300K $EOS. The proposal was approved by MSIG.
Yield+ is a liquidity incentive and rewards program designed to attract DeFi dApps that generate yield for users. It’s designed to boost economic activities on EOS through incentivizing protocols that increase their Total Value Locked (TVL). Current program allows for EOS and USDT to be counted as TVL for eligibility and participating applications are rewarded in EOS based on their TVL.
Here are the requirement to participate in Yield+ Program:
- Be registered with Recover+ Program
- Be an active DeFi protocol
- Have a functional web page or mobile application
- Have an operational smart contract.
According to Yield+ December 2022 Report, we noticed there were 14 dApps participating in the program with 11 qualifying for Yield+ rewards.
EOS TVL growth has also been growing and diverging from other Layer1 chains TVL, even if EOS DeFi still ranks outside the top 21 Layer1 chains.
Some dApp like DeFiBox have started to take advantage of the extension. The Vault Protocol will keep his EOS liquid staking APY to 6-7%. The Vault protocol is the first single-token lossless yield protocol launched by Defibox. Vault income mainly comes from protocol income, Yield+ rewards, BP income, REX Income.
For more information on how Yield+ works and how to participate, visit: https://eosnetwork.com/blog/launch-of-the-yield-incentive-program-is-imminent/
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