Agora DeFi: The Journey Begins

Agora’s First Major Project Announcement

Agora DeFi
3 min readJan 20, 2022

Thank you all for joining the Agora and making it the most liquid money market in the Metis ecosystem.

The Agora

We are proud to build this for the Metis community, and together will become one of the largest platforms in DeFi.

This is the power of a fair launch, community owned protocol that directly benefits users for participating. No VCs, privates, presales or team allocation.

We will be publishing regular announcements and updates over the coming weeks as we gear up for token release.

Update 1 — Borrow against auto-compounding LP

TL;DR: We will be rolling out an instance to allow borrowing against autocompounding LP positions. 10M Agora will be taken from the original Bonds allocation to be used as Liquidity Mining.

Since launching the money market less than a week ago we have already achieved $44M in TVL and this is rapidly growing. We are now the 2nd highest TVL dApp on Metis after Netswap!

Agora is now the 2nd highest TVL dApp on Metis after Netswap!

An audit has been completed and we have published a side by side code comparison with our fork of compound V2. These can be viewed here.

However this is just the beginning. We cannot rest on our laurels if we are to be competitive long term.


We will be rolling out borrowing against Autocompounding LPs in the coming days on Agora.

Whilst many of you will be familiar with autocompounding, which automatically harvests LP rewards for you and restakes them for the LP periodically; Agora will soon allow you to borrow against your auto-compounding LP.

This means you will be getting your autocompounding APY whilst you borrow assets from the market. All the large LPs on Netswap and Tethys will be usable as collateral.

We have partnered with OCP who is an autocompounding service provider (one of the first on Metis to roll this out), and we expect to roll this feature out shortly post token launch.

In order to incentivize this market, we are adjusting the 50M allocation for Bonding and moving 10M Agora from there to be used as liquidity mining for this instance, to be distributed over 12 months. Periodically the rewards emissions will go down.

Only supplying and borrowing stablecoins, and Metis will be eligible for rewards. Supplying the autocompounded LP tokens will not be eligible for rewards. However, supplying autocompounded LP tokens and using them as collateral to borrow other assets will make you eligible for rewards.

Full details of this will be released in another official announcement article.

Agora is a fixed supply asset with no team allocation. We are moving the 10M from the bonding allocation as we believe this will increase the utility of the Agora product line making more TVL and revenues for Agora token holders.



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