Mercurial x Parrot: Co-Liquidity Mining Has Begun!

After a highly successful PAI collaboration for our Mainnet Beta, with $9.7M in the PAI 3Pool, $2M of PAI minted, we are excited to start a liquidity mining collaboration with Parrot!

One of the key goals of this collaboration is to encourage robust and solid liquidity for the PAI stablecoin and help to establish broad ownership and confidence in both the stablecoin and the underlying parrot protocol.

Details

This current phase of liquidity mining will run from 14th July to 13th August. In this period, we will be distributing 270,000 MER and PRT rewards of 20% APR based on a 10M USD base retroactively.

1. For existing PAI 3POOL LP holders:

• You will receive MER reward of about 15% APR for the period of 9th to 14th July via the community portal

2. For new PAI 3POOL LP holders:

• MER will be distributed daily on a linear basis
• PRT equivalent to 5% APR will be distributed retroactively after the token launch

3. PAI contributors who hold the equivalent of PAI debt in the Parrot vault:

• PRT equivalent to 15% APR will be distributed retroactively after the token launch
• This additional incentive for PAI contributors are crucial since we need to motivate users to mint PAI over simply adding the more established stablecoins

The overall PRT rewards of 20% APR will be adjusted between (2) and (3) based on the ratio of stables in the 3pool. Parrot will follow up with a post that details the rules and schedule of rewards distribution closer to the date.

Mercs x Parrots — LFG!

As the liquidity platform for stables on Solana, we have been working very closely with PAI from day one. We are confident that the Parrot will bring PAI into becoming one of the anchor stables on Solana.

Let’s work together to make #SOLSUMMER awesome!

More Information

Parrot and PAI:

Tweetstorm

If you have not deposited $PAI into the 3Pool, this is a great time to do so, since $PAI is currently imbalanced (so you get slightly more bang for buck)

1. Visit https://parrot.fi, and use SOL to mint $PAI
2. Visit https://mercurial.finance and deposit
3. Done!

Mercurial 3pool Explainer (Done by our fantastic community members!)

​English (Original by @tiddernips)

​Japanese (translated by @SoftgateJa)

​Turkish (translated by @lingland09)

​Chinese (translated by @jdle6)

​Korean (translated by @gmchung94)

​Vietnamese (translated by @SunnWangie)