"Fresco depicting Iapyx removing an arrowhead from Aeneas' thigh in the presence of Venus stands and Aeneas' young son Ascanius, from Pompeii, Naples National Archaeological Museum" by Following Hadrian is licensed under CC BY-SA 2.0
December 13th, 2021 - The Algorand Foundation is launching the Aeneas Liquidity Program, which is Phase II of its $300m Viridis Fund. Aeneas is the Foundation’s first official liquidity incentive program, centered on the “three pillars” of DeFi.
Its goal is singular yet ambitious: to bootstrap all three pillars simultaneously
Throughout history, economies have risen upon the establishment and maintenance of critical infrastructure (ports, bridges, roads, etc.) and the flourishing markets they support (trade, financing, etc.). In the mythology of Aeneas*, this resulted in the establishment of Rome.
For Algorand, the recent launch of the Algomint and Tinyman alongside the upcoming launch of Algofi represents the dawn of a new economic era where value can be migrated, traded and leveraged to fuel subsequent waves of innovation.
Starting soon, users of Algomint and Tinyman will be able to take advantage of Algo rewards by bridging assets and then staking them in select liquidity pools. Later in December, borrowers and lenders on Algofi will be similarly rewarded for providing borrow supply and maintaining solid loan utilization on the protocol.
Specific details regarding incentives pools and program operation timelines will be announced by the respective teams. Please follow the progress of the Aeneas Program roll out by following these social media accounts ( they couldn’t resist some historical quotes about Rome ):
Using the analogy of Aeneas sparking the creation of Rome helps us to understand the ambitions we all share for the potential of the burgeoning Algorand DeFi economy. We know the saying that Rome wasn’t built in a day and that of course applies to Algorand - but with the Viridis Funds and the launch of Aeneas, we hope to rapidly accelerate the growth of DeFi on Algorand in 2022 and beyond. For information on Algorand’s DeFi economy, visit here.
*Who was Aeneas ?
Aeneas is a mythological hero who went on to be the first true hero of Rome after his ancestral home was sacked by the Achaean army in the Trojan war. Through sheer grit and perseverance, Aeneas led his people away from the ruins of Troy to found a new land that would later become the one of history’s greatest commercial empires: Rome.