Fluidity Money, an innovative DeFi project that offers users the opportunity to increase their wealth while spending, is set to officially launch on the Ethereum mainnet. This will see the DeFi space embracing a new and innovative primitive that seeks to redefine the conventional spending approach.
Fluidity Goes Live on Ethereum
According to an official press release, the launch will be held on December 19, 2022. This will see the protocol’s initial release happening on the Ethereum mainnet.
Notably, the launch confirms the proper audit of Fluidity Money by Bramah Systems, Verilog Solutions and Hashlock. Prior to the launch, the protocol had already recorded up to 50,000 users while still in its testing stage, operating on both the Solana devnet beta and Ethereum testnet.
In addition to this, it appears that the protocol has already triggered interests from investors and firms following the unique design it features even before its official launch. Fluidity Money revealed it had received up to $1.3 million seed funding support from Multicoin Capital, Solana, Circle, Lemniscap, and others. More interestingly, it also received development grants from protocols like Compound, Solana, Polygon, Aave, Lido and RMIT Blockchain Innovation Hub, which amounted to about $100,000.
The announcement also revealed Fluidity’s plans to later switch to a multi chain incentive layer. Hence, Fluidity will first be released on Ethereum, but there’s also plans to launch it on the Solana, Arbitrum and Polygon platforms.
Fluidity Rolls out Unique Spend-to-Earn Initiative
Following its design, Fluidity Money is on a mission to provide a platform that re-shapes people’s approach to spending money. Hence, it has sought to introduce an incentive system that allows users to swap, trade and perform on-chain transactions with Fluid-wrapped assets, while they earn rewards in return.
Fluidity’s Founder, Shahmeer Chaudhry elaborated on the team’s vision following the launch of the protocol:
“Four or five years ago, everybody said DeFi could be the use-case that brings in a billion users to crypto – but it actually turned out to be NFTs and GameFi; At Fluidity, we want to gamify how people think about spending money, and our long-term goal is to re-shape how people approach spending.”
As a side note, Fluidity allows users to receive randomly paid yields and large dividends without the need to engage in complex activities such as lending, staking or locking up digital assets for a much longer period. However, they can earn rewards amountable to millions by simply performing everyday transactions, all thanks to Fluidity’s Spend-to-Earn protocol.