Tokemak ignites a TCR ReactorGet ready for TCR staking and TOKE rewards
Tracer DAO breaks DeFi ground and enters a new level of liquidity, as Tokemak ignites a TCR reactor. Tracer is one of only 5 projects to win the C.o.R.E. event and claim an initial reactor. This partnership will showcase the strength of Tokemak's market making mechanism and pave the way for further reactors that contain Perpetual Pool tokens! Thanks to all who voted for Tracer in the week long event — it's safe to say that we were C.o.R.E.'s dark horse.
On the back of a vote just passed by Tracer DAO, TCR holders will soon be able to deposit into the reactor and start earning TOKE. This is the first time there's been single asset staking for TCR!
Tracer is the smallest project by market cap to get a reactor, so the relative yield from daily rewards (700 TOKE) is potentially the highest for our stakers. Head over to the tokemak.xyz website to get started.
We expect this reactor will deepen liquidity for TCR significantly. Right now, our partner, Visor Finance, are handling most of the market making for Tracer on Uniswap v3 (mainnet). They're actively managing LP positions for the TCR/ETH pair with $0.5M of each asset.
Liquidity provider (LP) deposits are single-sided for Tokemak reactors, so all you have to do is provide TCR. Simply deposit TCR and receive tTCR, which is redeemable 1:1 for the asset in the reactor (TCR). There'll be a period before this liquidity is directed to a platform for market making so, in the meantime, you can sit tight and earn TOKE.
Tokemak intends to protect single-sided liquidity providers (TCR depositors) from impermanent loss. Tokemak uses a TCR reserve to support the 1:1 redemption and Tracer DAO will provide this reserve.
Tokemak and Tracer have agreed to swap $1.5M USD of native protocol tokens to seed the reactor. The TOKE received gives Tracer DAO the power to direct TCR liquidity to various platforms. See the proposal on Snapshot for more details!
Get ready for TCR staking and TOKE rewards.
New to Tracer? Find out how you can earn TCR using our Perpetual Pools here and get non-liquidatable leveraged tokens in your wallet, today.