Thread by @hoemcrypto

INCOMING 🚨 🚨

THE FIRST BRIBE IS COMING TO @LiquidDriver $LQDR ALL THANKS TO $SPIRIT WARS…
The incoming @fraxfinance and their algorithmically backed stable coin $FRAX

A look into the first LQDR bribe and why LQDR is a main player in the ecosystem…

THREAD 0/7:

1: First off all, what the frick is a bribe?

The bribe is a way that a protocol can drive liquidity into their protocol via LQDR directing emissions into @fraxfinance boosted farms on @Spirit_Swap, around 5-8m spirit votes

2: in return for voting to boost their farms FRAX will pay LQDR (bribe) them to do so, this is a W for xLQDR holders a W for LQDR to work with the amazing @fraxfinance team

3: that’s not all though, the FRAX team will then develop a close working relationship with LQDR to continue generating yields for xLQDR holders in the future

4: once we see the bribe system up and running properly we will begin to see how LQDR is a main player with all the big defi protocols coming from $ETH to branch out to $FTM

5: ANON, this is yield on yields on yields and the 30m accumulation of $spirit by @LiquidDriver is only the start… are you not holding or farming on LQDR yet?

6: Who are FRAX and how can they be a big part to play in the FTM ecosystem?

Frax are a tier 1 stable coin protocol that, here is a quote regarding how their protocol works from their docs
“Frax is the first and only stablecoin with parts of its supply backed by collateral and..

parts of the supply algorithmic. This means FRAX is the first stablecoin to have part of its supply floating/unbacked. The stablecoin (FRAX) is named after the "fractional-algorithmic" stability mechanism. The ratio of collateralized and algorithmic depends on the market's…

pricing of the FRAX stablecoin. If FRAX is trading at above $1, the protocol decreases the collateral ratio. If FRAX is trading at under $1, the protocol increases the collateral ratio.”

Looks like a big deal anon…

7: LQDR and their linSpirit accumulation is why bribes are going to be a big deal for xLQDR holders.
Of course do your own research:

vote.liquiddriver.finance/#/proposal/0xa…

docs.frax.finance

$LQDR #LQDRv3 $FTM #FTM $FRAX $SPIRIT

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