Project:Algomint:
Details about Project:
Algomint pioneered the bridge for $BTC and $ETH to Algorand, in addition we have established a robust platform incorporating $BTC, $ETH, and $USD baskets for seamless swaps and trading of like for like assets. By leveraging the Algorand Blockchain, Algomint enables round-the-clock operations with lightning fast transactions executed in a matter of seconds for minimal fees.
Summary
Algomint received 754,583 $ALGO from the Algorand Foundation DeFi Reward initiative. All rewards were distributed to goASSET pairs via PACT pools excluding 6.6% which were retained for x-NFT series 2 and was utilised for onchain costs related to x-NFT (minting NFT’s, loading HONE contracts etc) and remuneration for the artist. The distribution and spends can be traced via the following wallets; Algomint receiving wallet : Here
During this rewards period we aimed to maximise liquidity inflow via Algomint bridges and baskets, growing TVL and trading activities of incentivised pools and goASSETS. Observations of the blockchain data show the following for pertinent assets:
Results:
$goBTC:
Since the release of the gov period 9 rewards we have experienced an uptick in market activity resulting in significant MCAP growth and increase in users. Crossing the 1m tx milestone is also a noteworthy event.
$goETH:
As seen with $goBTC, since the release of the gov period 9 rewards we see a similar growth pattern of MCAP, users and tx’s.
$goUSD:
We have seen a significant increase in total Tx’s and growth in both MCAP and users since our prior reporting period.
$X-NFT:
X-NFT has seen solid growth this reporting period, the total Tx’s are up 8x from the previous period, MCap has also increased by 2.5x and our user count has almost doubled.
Achievements
x-NFT
- Partnered with Meld Gold to deliver the first GOLD$ and SILVER$ backed NFT’s (awards) on Algorand.
- Engaged David Bowie’s art director (Davide de Angelis) for series 3
Baskets
- wUSDT & wUSDC added to the goUSD basket.
