Protocol/Project Name:
- LayerBank
Protocol Overview:
- LayerBank is a universal on-chain money market that provides deep liquidity for leveraging various on-chain assets. Currently, it holds over $350M in TVL, with over 600,000 users across 8 multi-chains, making it one of the largest protocols in the L2 ecosystem.
MS Receiver Address:
- Mode: 0x38eb86169A481a32020D19c867995995bA4Cf503 , Optimism: 0x38eb86169A481a32020D19c867995995bA4Cf503
Distribution Confirmation:
- We confirm that we will use Merkl to distribute the incentives received.
Incentive Impact Statement:
- LayerBank will use the Mode Season 3 rewards to incentivize efficient liquidity usage in its multi-chain/cross-chain money market. A portion of the incentives will be strategically allocated to the emission system of $ULAB and xeULAB, providing users with the best yield opportunities.
The distribution will be allocated as follows:
- Collateral provision
- Borrowing usage (providing lower borrowing APR and additional rewards to ensure capital is actively used within the ecosystem)
- $ULAB liquidity (to boost liquidity bootstrapping by strengthening the market incentive layer)
Eligibility Criteria:
Roadmap:
- LayerBank is preparing for the launch of $ULAB in Q4 2024, which will enhance the ecosystem’s reward layer and onboard additional liquidity and users. Following this, the integration of LayerBank’s multi-chain money market through the Cross-Chain Lending Market (Q1 2025) will allow liquidity from various chains to be utilized within the Mode network.
Partnerships:
- LayerBank collaborates with a wide range of re-staking and synthetic asset protocols, especially with exciting and valuable projects like BTC-fi, ETH restaked assets, and RWAs, to offer better yields. We are continuously striving to provide more opportunities through additional partnerships and are open to any new collaborations
Contact Information:
- marketing@layerbank.finance , @LayerBankFi (X)