UX's Monthly Newsletter #8
Hey UX Community,
What a month it has been, eh? Just like that, August has come and gone, and with it, we've seen plenty of changes that we want to share with you. From the launch of our Incentives Module, new records in supplied and borrowed assets, new listings and more, here's a rundown of what the month of August was like at UX.
We Launched Our Incentives Module
At UX, we believe in providing users with as many avenues as possible to benefit from using the platform. To this end, we launched an incentives module to reward users for supplying much-needed assets to the market. We believe this will be a great way to encourage the adoption and supply of new and upcoming assets on the platform, while also providing more liquidity and avenues to develop new yield strategies. Keep a lookout for when an incentive rolls out on an asset you can provide!
Even More Asset Support!
With the resounding community feedback we received in support of the listing of new assets, we're happy to announce that as of this month, the following assets can be found on our app:
- $MARS from the Mars Protocol
- $CRO from the app porting protocol Cronos
We're loving this rise in interest from the community on the addition of new assets, and so far we're having very positive discussions on the potential addition of support for $SOMM, $stSOMM, $qSOMM, rETH and sfrxETH. We'll keep you updated!
Huge Supply and Borrowing Milestones!
Amid uncertainty in many crypto spaces, we're pleased to announce another rise in the total amount of supplied and borrowed assets!
We've made it to $13M supplied so far, and a total of $4M borrowed, and we owe it all to the steadfast support of our growing community. Here's to even more heights in the future!
A Partnership to Benefit the Bitcoin Community
We have been in collaboration with Babylon in their mission to bring Bitcoin security to the Cosmos. This month, we began a testnet integration with them to add Bitcoin timestamps to our chain which will reduce UX's unbonding time significantly. This serves to secure the chain even more for UX users!
As we strive for even more achievements at UX, our goal remains the same: to transform the DeFi experience for the Cosmos ecosystem. To this end, we continue to work tirelessly to improve our protocol with regular updates that keep the user experience safe and secure. We understand how vulnerable the market has been this month, and this has pushed us to double our efforts to make your time on UX as efficient and profitable as possible.
We never tire of hearing from our community, so do not hesitate to leave us any feedback you may have on our social channels.