Summary Retrospective of the Tinlake Worklock: v1 of the Tinlake Liquidity Rewards Program
Tinlake Worklock - Our first experiment with Liquidity Rewards
The Tinlake Worklock was our first experiment with liquidity mining. The program was established on March 30, 2020 as a way to incentivize investment into the very first Tinlake Pools. We named it the Tinlake Worklock because Radial (RAD) rewards were granted for Dai to be locked in on Tinlake to perform work. Dai locked, RAD rewarded. We did not think of fancy yield farming or liquidity mining back then.
Though long term investors will be incentivized to participate in Tinlake pools because of their yield alone, in the short run this incentivization will encourage participation in Centrifuge at this early stage – when the perceived risk may be higher to a potential investor.
In this first try of our rewards program, Centrifuge has rewarded so far 515,624 RAD to 47 investors, for a total investment of over 2 million Dai in Tinlake pools!
There has also been:
5 pools financing 102 assets (30-60 day terms on assets)
3 Asset Originators (two of which spun a second pool and all will continue using Tinlake):
- Paperchain (Music streaming royalties)
- ConsolFreight (Shipping invoices)
- Harbor Trade Credit (Trade finance for Flight Simulators)
We hope that investors use their tokens to participate in Centrifuge Chain governance as well as by staking towards validators to participate in chain security. We are proud that these initial contributors to Centrifuge are among the first token holders and are empowered to operate the system.