DeFi’s Spend-to-Earn Protocol Fluidity Money To Go Live on Ethereum Mainnet

DeFi protocol Fluidity has said it will launch on the Ethereum mainnet on December 19. The Fluid-wrapped asset on-chain transaction incentive layer, which pays users for swapping, trading, or carrying out any on-chain transaction, will first be made available on Ethereum, with Solana, Arbitrum, and Polygon to follow.

Fluidity is a spend-to-earn protocol that completely dismantles the conventional yield-bearing model. Instead of lending, staking, or locking up digital assets for an extended period of time to earn yield, users receive large dividends and randomly paid yields that can range from cents to millions, just for sending, receiving, or swapping a Fluid-wrapped asset.

“Four or five years ago, everybody said DeFi could be the use-case that brings in a billion users to crypto – but it actually turned out to be NFTs and GameFi,” says Fluidity Founder Shahmeer Chaudhry. “At Fluidity, we want to gamify how people think about spending money, and our long-term goal is to re-shape how people approach spending.”

The wrapped assets (Fluid Assets) offered by Fluidity are stablecoins, which means they are backed exactly by the underlying currency and are redeemable at any moment by users. Approximately 50–70% of all transactions, according to Chaudhry, will be yield-bearing, with incentives being distributed 80:20 between senders and recipients, who may also include service providers.

The protocol generates dividends based on the total yield produced by all primary tokens deposited and lent on the financial markets.

By engaging in routine activities like paying for food, rent, or gas, interacting with a decentralized exchange (DEX) or NFT marketplace, or playing blockchain games, users of the spend-to-earn protocol may earn rewards.

In order to stress-test the rapidly expanding DeFi protocol, 50,000 users (referred to as “Fluiders”) have been trading and transacting on both the Solana devnet beta and Ethereum testnet.

Shahmeer Chaudry, a game designer, came up with Fluidity in 2021. It has secured $1.3 million in seed investment from investors including Multicoin Capital, Solana, Circle, and Lemniscap. The project received over $100,000 in development grants from protocols including Compound, Solana, Polygon, Aave, Lido, and RMIT Blockchain Innovation Hub before to its investment rounds.

Source: https://thenewscrypto.com/defis-spend-to-earn-protocol-fluidity-money-to-go-live-on-ethereum-mainnet/