Rift Deploys to Aurora to Help Supercharge DAO Growth

3 min readMar 20, 2022

Introduction

Aurora is proud to announce our partnership with Rift Finance to help supercharge DAO growth in the NEAR ecosystem. Rift is a novel form of protocol-owned liquidity that empowers DAOs to achieve sustainable liquidity in a single transaction. This deployment to Aurora follows the close of Rift’s $50M capped beta on Ethereum.

Rift Finance

By rethinking the incentives behind liquidity provisioning, Rift unlocks a new frontier of DAO growth. DAOs can now deploy their governance tokens to significantly deepen liquidity on DEXs without having to give up ownership of their tokens. Liquidity providers will soon have the opportunity to earn double rewards on their NEAR deposits and reduce their risk of impermanent loss.

For Aurora, Rift’s deployment means more sustainable liquidity for the entire ecosystem. By allowing DAOs to control their own token liquidity instead of depleting their treasuries to mercenary capital, Rift unlocks the growth potential of the ecosystem at large. It provides necessary liquidity tooling for DAOs to scale sustainably.

For DeFi users, Rift offers an exciting new use-case for the NEAR native token. In the coming weeks, liquidity providers will be able to use the Rift protocol to double their returns and protect themselves from the downside risk of impermanent loss. LPs will be able to deposit NEAR into any vault containing DAO tokens on Rift. This NEAR will be paired with governance tokens deposited by the DAOs then activated as liquidity in DEXs. For LPs, depositing into a Rift Vault is strictly more profitable and less risky than depositing liquidity into the DEX directly.

For DAOs on Aurora, using the Rift protocol allows them to deepen their token liquidity without having to give up ownership of their tokens like they do with liquidity mining. DAOs deposit their tokens into a Rift Vault. These tokens are paired with $NEAR deposited by liquidity providers and deposited in a DEX to deepen liquidity for the pair. If you are interested in using Rift for your DAO, please submit this form.

Why Aurora?

Aurora is the only Ethereum scaling solution that allows projects built on Ethereum to utilize the cutting-edge technology of the NEAR Protocol. In just a few months, Aurora has fostered a vibrant ecosystem of DAOs and builders and scaled to over $600M in TVL. Rift is excited to be supporting the growth of the Aurora ecosystem by empowering DAOs to control their own liquidity and granting Aurora users access to lucrative yields.

Enter the Rift

The first cohort of DAOs to launch on Rift in the Aurora ecosystem includes Trisolaris, NearPad, and Flux, with many more to come soon. You can view the live Rift Vaults on the Rift Webapp here. These DAOs will be able to control their own token liquidity using Rift instead of depleting their treasuries to mercenary capital. Announcements will be shared over their Twitter so be sure to follow @RiftFinance on Twitter.

About Rift Finance

Rift is a decentralized protocol that restructures incentives to improve liquidity across DeFi.

Today’s liquidity structures are parasitic to DAOs; they drain DAO treasuries and shrink market caps. The Rift Protocol allows DAOs to deploy governance tokens from their treasuries to pair with tokens from liquidity providers. By working together, DAOs receive the liquidity they seek and LPs receive double returns and reduced risk. DAOs across several leading Layer 1 blockchains, including Ethereum, Terra, Fantom, and Injective, utilize Rift to unlock sustainable liquidity.

About Aurora

Aurora is an Ethereum Virtual Machine (EVM) based on the layer 1 proof-of-stake blockchain NEAR Protocol. Aurora provides a solution for developers to deploy their apps on an Ethereum-compatible, high-speed, scalable, and future-proof platform with low transaction costs for their users.