Earn While You Trade: Unveiling the Tephra Rewards Program on Lavarage
GM Lavanauts! The wait is finally over as we are introducing the Tephra Program officially! Users of Lavarage, aka Lavanauts, can see their Tephra points balance on the platform and we are launching Mission 1 of the Tephra program today!
First and foremost, a bit of background on our journey so far. As with all businesses, Lavarage started with a dream — a dream where degens can trade in DeFi just as efficiently and easily as they could on centralized platforms. We saw a gap in capital efficiency and also saw room for improvement on UX when it comes to trading in DeFi and hence we started building Lavarage — a decentralized spot-margin liquidity layer with a simple-to-use trading front-end. Since our recent launch at the end of June, our platform has facilitated over 5,000 spot margin positions with an average leverage of 3X. Our platform currently allows for more than 500 tokens to be traded with leverage and we have empowered close to 1,000 traders with over 60% of them being repeated users! Our platform is also allowing our liquidity providers to earn a 40% APY on their staked $SOL — more than 5X of the native $SOL yield!
Imagine that just a few months ago, most people were still wondering if Lavarage was just a typo of the word “leverage”. We consider that we are off to an amazing start and are confident that we are heading in the right direction. While we continue to build a better product with amazing features such as shorting, auto take profit and AI-driven lending (just to name a few), we are excited to launch our Tephra points program to quantify and recognize the contribution of the most important people in our journey — our Lavanauts. Your support thus far, which includes your patronage, your valuable feedback and of course, the fee you paid, has been invaluable. With the program officially launched, we look forward to the continuous support from our existing users and to enlist many more new Lavanauts.
The Tephra points program is designed to cover all value-add activities on our platform since its inception. These activities can be broadly divided into 3 categories at the current moment:
- Trading
- Staking
- Community-building
We will be running the Tephra points program in a sequence of Missions, which are each 2-week long. During each Mission, the amount of Tephra awarded to each category and the activities within each category may change. This gives us the flexibility to optimize the effectiveness of the points program in bringing us the activities that would be the most beneficial to Lavarage at the point of time.
The very first Tephra Mission starts today and all the activities done prior to today falls under the OG Mission. Some of the Tephra points for activities during the OG Mission have been allocated already. If you are an OG Lavanaut, you can check your Tephra balance on the platform now. For more detailed information, you can find the frequently asked questions about the Tephra points program here.
At this point, one of the biggest questions you might have is “Why should I care about these galactic volcanic dust?”. The answer is simple. As with “all roads lead to Rome”, all points lead to…tokens. Based on our traction thus far, the launch might not be too far off. Nevertheless, it is still too early for us to disclose details at this time. What we can state with certainty are two things:
- Together with you, we will build Lavarage into one of the top DeFi platforms
- Long-term value of Lavarage will be fairly distributed to all those who contributed and continue to contribute to building it up
Let’s go big (and not go home), Lavanauts! Start earning Tephra now by visiting: https://app.lavarage.xyz/?ref=M_TM1
