Genesis Liquidity Bootstrap Programme
Rumi's lending module, Prime, serves as a crucial cornerstone of our protocol, enabling the creation of various yield strategies and hedging mechanisms utilized in our vaults. Being a pivotal component of our infrastructure, securing initial liquidity in Prime is indispensable for the seamless operation of the platform.
Beyond the interest earned by Prime lenders from lending assets to Rumi Strategies, we have decided to reward lenders with Rumi tokens to accelerate the attraction of liquidity.
Bootstrapping liquidity is complicated, so attacting and rewarding initial supporters aligns with our objetcives and values. We want lenders to have a long term apprach to providing liquidity on our platform, and we will do our best to incentivise them all along the way
Please be aware that the Rumi token is not yet live and is slated to go live in Q1 2024. The token rewards accrued by lenders can be traded or staked only after the Token Generation Event (TGE), and will remain non-transferable until then. Think about it as a confirmed and quantified Airdrop system.
We have minted a total of 900,000 Rumi tokens exclusively for this programme, with a total expected value of c.$350,000 designated to be distributed to Liquidity Providers (LPs) across each lending vault. The token allocation for each vault will be determined based on the Vault's Total Value Locked (TVL) and utilization rate, with allocations being reassessed on a weekly basis.
The projected Annual Percentage Rate (APR) on the tokens is based on a presumed Initial DEX Offering (IDO) price. Please note that this price may be subject to change in 2024 when the IDO is launched.
As stated earlier, these tokens will become claimable in your Rewards section post the IDO. In the interim, the accrued reward tally can be viewed within your portfolio section.
Prime Lending Vaults eligible for Rumi Rewards