Official reports from respective DeFi protocols and Avalanche Foundation

Avalanche Foundation's BOOST Program Spurs 10% TVL Increase, $8M Rise for Trader Joe

Jul 12, 2024, 09:32 PM

The Avalanche Foundation has launched the BOOST program to enhance the DeFi ecosystem on the Avalanche network. The initiative involves injecting AVAX incentives into liquidity pools, aiming to increase user engagement and attract more developers. Top-tier DeFi protocols such as Trader Joe, DeltaPrime, PharaohExchange, SnowbankDAO, and yieldyak_ have already seen significant increases in Total Value Locked (TVL) as a result of the BOOST campaign. Trader Joe reported a 10% increase in TVL, amounting to an $8 million rise. The BOOST program also offers additional AVAX rewards on assets like AVAX, BTC, USDC, and USDT on platforms like BENQI, and collaborates with DefinitiveFi and CIAN Protocol. Trader Joe is also promoting the #Avalanche 9000 initiative.