The Granary just kicked off its wBTC incentive campaign in Andromeda, by the side of MetisDAO Foundation.
“Synergy — the bonus that is achieved when things work together harmoniously.”
Synergies are being achieved between Andromeda and Granary Finance, as the former looked for a trusted lending platform capable of enabling great Decentralized Finance composability, and the latter looked for a robust Ethereum Layer 2 with a growing dApp ecosystem.
Granary Finance, also known as “The Granary”, is a decentralized, user-driven, multi-chain borrowing and lending liquidity market, recently deployed in Andromeda. The Granary will be the newest addition to the Metis Marathon. MetisDAO Foundation will be working together with the lending protocol to foster and build ample wBTC liquidity in Andromeda, as we keep building strong DeFi Foundations for the Web3 Economy.
TVL in Andromeda doubled since January 1st, potentially because of deployments like Stargate, integrations like Banxa, and the implementation of new technologies like BLS Wallets. As the ecosystem keeps growing and the picture of the Web3 Economy becomes clear, lending and borrowing platforms will be key DeFi components for sustained and healthy growth.
The Granary has already participated in and passed Andromeda initiatives like the Community Ecosystem Governance (CEG), growing their Metis community and leading to a sharp increase in TVL for January. Now, it will become part of the Metis Marathon and facilitate lending and borrowing in Andromeda; on-chain arbitrage opportunities between Fantom, Avalanche, Arbitrum, BNBChain, Optimism, and Andromeda; and encourage a DeFi flywheel for Andromeda users to maximize the optimization of their assets.
MetisDAO Foundation is excited to collaborate with The Granary and expects it to be a key piece of the foundations for the Web3 Economy.
The campaign will be focused on wBTC, as MetisDAO Foundation thinks that, in order to build strong foundations for Decentralized Finance: wBTC and ETH will be crucial building blocks. Granary Finance will play a key role in the inception of wrapped Bitcoin into Metis Andromeda. We expect this to be just the first product and wBTC-centered campaign, as the increase in wBTC TVL and liquidity will encourage other Andromeda DeFi protocols to take action, and capitalize through new products and novel implementations.
Granary is a decentralized lending platform focused on bringing secure and transparent lending services to the world, operating for over a year on seven different networks. This year, Granary’s mission is to become a top application on Metis and bring cutting edge DeFi technology to all its users.