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Incentivization
First of all, outside of its stablecoin mechanisms, gmUSD is fundamentaly a yield-bearing token that appreciates 15–25% a year. This yield alone creates a natural demand for the token.
To expand gmUSD and increase volume further for PSALM to generate revenue, we will incentivize gmUSD liquidity pools and increase demand by integrating it to multiple defi/dex protocols on Arbitrum.
The main incentives of gmUSD will be through step 2 of our product: GND Uniswap v3 liquidity engine and farm.
GND will help incentivize Uniswap v3 concentrated liquidity through its LP wrapper contract and LP farm. More info on this will be released over the next few weeks.
In the meantime, we are going to bribe solidly forks on Arbitrum and create some short-term esGMD and GNS farms as partnered with GMD protocol and Gains Network.
With additional incentives for gDAI — gmUSD and gmdUSDC — gmUSD liquidity pairs, users can now earn more on top of the 15–25% APY provided by these stables.
This will increase the initial demand to kickstart the supply of gmUSD before we get to the launch of the core functions of the product.
Lending protocols, vaults, LP pairings with native projects will be also on the roadmap to increase gmUSD’s utility.