First off, we are actively working on cutting emissions of $RULER. The first step towards that is a snapshot proposal that suggests reduction on Pool2 emission. Although this vote is most likely to pass, the snapshot is still active so please go vote as there is still time.
Besides this vote, we are also starting to concentrate on providing deeper liquidity for borrowing rather than onboarding as many partners as possible. For our AMM (curve metapools) pairs we are now only awarding $RULER tokens to partners who are willing to contribute $6,000 in the partner tokens or more per week. We were very pleased to see how many partners (see July Ruler Pairs section for full list) were still willing to collaborate with us.
Another step we took is to use the xRuler token as a reward token for our liquidity providers. We believe that with increased emission to xRuler holders, we can increase the number of long-term Ruler supporters and reduce the selling pressure of the token.
Given all of these measures, we managed to reduce Ruler emission to a record low of approximately 2000 Ruler tokens per week for all collaterals, which lead to a 52%+ reduction in emission compare to last month.
The following pairs are delisted due to various reasons. They can always be listed again when the requirements here are met.
- eXRD, no incentive from partner
- BDI, no incentive from partner
- vETH2, unstable pair due to various factors
Note: if you are not seeing a new pair on the Ruler app but also do not see it as delisted, that means we are still in the progress of working on the conditions with the partner.
July Ruler Pairs
We also would like to note that we have some very interesting partnerships in development that we are hoping to share with the community in the near future.
Order Books are here!
We are excited to announce that we are launching the following pairs on order books with a liquidity mining program in place:
Rewards for all of the above pairs are going to start on July 3rd at 8 PM EST.
We are also working towards gradually releasing UI features and documentations to the order books.
Note: you can trade against any supported token on CoverRules but only the exact pairs mentioned a few sentences above will be receiving rewards. Also pay attention that the repayment token for multiple pairs this term is the alUSD token.
What does that mean for our users?
- Now you can borrow as much as you want.
- You can now borrow without having to worry about liquidity in the AMM or slippage.
- You can now set your own rate at which you want to borrow or lend.
- You can earn rewards by providing limit-orders by selling or buying a token on the CoverRules order books.
All of the order book pairs are now highlighted and contain a link to the order book trading:
Our borrow and lend UIs for the above pairs are now filling your request from the best possible orders on CoveRules. If there are not enough orders to fulfill your request or you are unhappy with the rate you will be able to place your own rate as well.
What does that mean for liquidity miners?
Instead of providing rcTokens and stablecoins to the curve metapools, now you just need to set limit buy and sell orders on CoverRules and be as close to the market price as possible to maximize your rewards. Our code will randomly take a snapshot of the order book and distribute rewards among the market makers.
Trading Governance Tokens
You can now also trade governance tokens on CoverRules. As of right now, we support the following tokens:
We are also open to listing governance tokens of our partners, so please reach out to us on Discord if you would like to be listed.
How to lend with CoverRules (Video + Text tutorial):
How to borrow with CoverRules (Video + Text tutorial): https://docs.rulerprotocol.com/order-books/borrow