Ethos Reserve has been a long time coming, and our team has been working hard in the background to ensure its success. Part of this effort has been in collaboration with the Optimism team, who has been assisting us with network introductions, go-to-market strategy, and support through a co-incentive program.
Starting on Monday, May 1st, Ethos Reserve, in collaboration with the Optimism Foundation, will be distributing liquidity incentives in the form of $OP and $OATH tokens.
Incentives will be distributed to $ERN liquidity providers through platforms such as Digit.xyz, BeethovenX, and Velodrome. This co-incentive program will take place over the course of the next 12 months, and will scale up based on TVL in the Ethos Reserve protocol.
Total Value Locked (TVL)
Monthly $OP Incentives (in $USD)
Matched by $OATH (in $USD)
——
$20,000
$30,000
$15M
$40,000
$50,000
$30M
$60,000
$70,000
$45M
$80,000
$85,000
$60M
$100,000
$100,000
$75M
$120,000
$120,000
$100M
$140,000
$140,000
$130M
$160,000
$160,000
$160M
$180,000
$180,000
$200M
$200,000
$200,000
With these incentives, our team is determined to onboard a new generation of DeFi users to Optimism and give OP natives a fully decentralized stablecoin to call their own. In addition to incentivizing the $ERN stability pool, the Ethos Reserve team will work to deepen market liquidity on Beethoven, UniV3, and Velodrome.
The Ethos Team believes the impact of Ethos Reserve, through its managed CDP vaults and high-octane liquidity incentivization, will benefit the entire Optimism network greatly. Ethos will also give DeFi protocols a new way of earning low-risk yield through $ERN, the Ethos Reserve Note. Learn more about $ERN in our documentation.
In this effort to more deeply integrate with the Optimism ecosystem, the Ethos Reserve team is proud to announce $OP as a new collateral type for use to mint $ERN.
Collateral
Minimum Collateral Ratio
Critical Collateral Ratio
Wrapped Ethereum (wETH)
108%
120%
Wrapped Bitcoin (wBTC)
120%
150%
Optimism (OP)
135%
175%
$OP holders can now mint $ERN with a minimum collateralization ratio of 135%, making it a cost-effective way to generate liquidity with $OP tokens without needing to sell them. Over time, as the $OP ecosystem matures, this MCR will be reduced.
With the addition of $OP as collateral, the Ethos Reserve team hopes to become a staple of the Optimistic Ethereum ecosystem, and plans on expanding to new superchains to service new users and decentralized economies through the $ERN token.
