DeFi incentive protocol Fluidity completes $1.3 million financing, led by Multicoin Capital

ChainCatcher news, the DeFi incentive protocol Fluidity has completed a $1.3 million seed round financing, led by Multicoin Capital, with participation from Circle Ventures, Solana Ventures, Lemniscap, NGC Ventures, Skyvision Capital, Bitscale, Koji Capital, Meld Ventures, Grug Capital, and others.

Fluidity aims to address the utility problem in DeFi by introducing a new incentive mechanism that rewards users for on-chain transactions. Users receive a 1:1 ratio of wrapped assets back in Stablecoin deposited into the protocol, with the earnings generated from depositing Stablecoin into DeFi protocols based on the frequency of users utilizing the wrapped assets, aiming to improve asset utilization. (Source link)