[Avalanche Foundation launches $180 million Avalanche Rush plan to promote DeFi growth]The Avalanche Foundation has launched an innovative liquidity mining program worth $180 million - Avalanche Rush, aiming to promote the growth of the decentralized finance (DeFi) ecosystem, attract more applications and assets to join the Avalanche blockchain, and improve DeFi accessibility and efficiency for global users.In the first phase of the plan, Aave and Curve, two high total value locked (TVL) DeFi protocols, will be introduced to Avalanche. Users will receive Avalanche’s native token AVAX as a reward, which will be distributed in three months. Aave users will receive 20 million AVAX, while Curve users will receive 7 million AVAX. The second phase will usher in more financial rewards.Avalanche Rush reflects the foundation’s commitment to DeFi and decentralization, and plans to invest $3 million in using BENQi to mine liquidity. The move, intended to enable staking and yield generation through the interfaces of Aave and Curve, follows the launch of Avalanche Bridge, an advanced cross-chain bridge that facilitates the transfer of assets.Avalanche is well suited for DeFi with its high throughput and fast settlement consensus mechanism. Aave founder Stani Kulechov believes that accessing Avalanche can reduce transaction costs while ensuring network security. Michael Egorov, CEO of Curve Finance, pointed out that Avalanche’s decentralized technology, fast processing capabilities and low cost make it an ideal choice for DeFi services.Emin Gün Sirer, director of the Avalanche Foundation, said that Avalanche Rush will demonstrate the potential of Avalanche and create an active community for users at the forefront of DeFi. The integration of Aave and Curve will appeal to DeFi enthusiasts and make Avalanche’s DeFi services faster, more affordable, and more flexible. The plan will also add more top DeFi protocols to enhance the user experience of Avalanche’s native applications.
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