Algorithmic Stablecoin Protocol Defrost Finance Goes Live

TokenInsight reports that Defrost Finance, the Avalanche on-chain algorithmic stablecoin protocol, is live on the mainnet and currently supports the minting of stablecoin $H2O via LP tokens from Trader Joe, Benqi, and Curve, with support for LP tokens from more platforms and cross-chain LP tokens to come. Defrost Finance is launched with a Fair Launch and no pre-sales. The governance token $MELT is generated by providing liquidity in the stable coin $H2O and $MELT, except for a small portion (5%) for airdrops and marketplace activity. Defrost Finance has been in Early Launch since 23rd November, a 3 day period, with lock-in volume topping $10 million on launch day. defrost Finance will launch a dual incentive liquidity pool with Trader Joe from 26th, where users can earn both $MELT and $Joe by providing MELT/AVAX liquidity. $Joe incentive. According to Defrost documentation, CertiK has audited its contracts in November.
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Avalanche

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