Introducing the Ola “RainMaker” and the first liquidity rewards program

Two weeks ago we made a quiet launch, and the first Ola lending network went live. This lending network, which is built on the Fuse blockchain, holds 100K$ in TVL.

Since then we’ve been working on two primary features.
The first one is a “read-only” mode that enables app users who did not connect a wallet to see its global state.

The second one, which is the subject of this Medium post, is one of Ola’s core features — the RainMaker.

The RainMaker gives Lending Network creators the ability to airdrop a specified incentive token on lenders and borrowers in their LeN.

How does it work?
To start with, the creator needs to choose the token that he wants to distribute.

Then, per market, he determines the speed of the emission (eg. 1 token per block). Finally, he delivers the tokens to the RainMaker contract which is responsible to do the accounting of the distribution and to allow users to claim their accumulated rewards.

Exemple
To illustrate how this feature can be used, let’s go over how the Fuse project utilizes it to attract users to its Lending Network. Fuse will launch an experimental 1-month program and distribute ~$10K to users.

• Starting date: Sunday, June 6th.
• Initial period: 30 days
• Total Rewards: 100,000 tokens
• The ratio between lending and borrowing side: 50:50
• Tokens weight:

In this exemple, the 100,000 tokens that Fuse wants to distribute are going to be allocated in the following way:

The rewards are being distributed on a per-block basis, ie xx tokens per block.

Many interesting things can be made with the rainmaker, and we are thrilled to see how our partners will use it.