Reya_en

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Reya Labs, which was behind Voltz, is back with a new project.

Reya Network is a modular L2 chain that provides liquidity and high performance for DeFi traders and liquidity providers.

They've got some big-name backers, like Wintermute and Coinbase, with Framework Ventures leading the way. As a result of their most recent funding round, they have successfully secured $10M in investment.

The project's roadmap is fairly simple at the moment, with the next event being the launch of the DEX platform Reya Perp on May 7.

Yesterday, they launched an XP farming campaign called the Liquidity Generation Event (LGE).

The LGE's goal is to provide future liquidity to the network. When we make a deposit, we get XP (experience) in return. This will be converted into tokens at a later date. We also get a constant boost for future point farming, as the liquidity pools fill up, it gets smaller and smaller.

• The LGE event, where we can get a permanent boost for future farming, will last two weeks, until May 7th.
• In the ETH network, deposits are open in USDC, in the L2 networks USDC.e is available (Arbitrum One, Polygon PoS and Optimism Mainnet).
• Withdrawals before the end of the LGE will result in the permanent loss of earned XP.
• It will be possible to withdraw liquidity without losing earned XP after May 7th, when the DEX platform Reya Perp launches. There is no deadlines, but it is worth paying attention to this date. After that date, we still risk losing points boosts when withdrawing.

I'm thinking that with the release of perps, the project could be a great alternative for Hyperliquid in my playbook. It might be a good idea to hold on to some liquidity now, and just take the multiplier with a small amount. That way, in the future, it'll be easier to redistribute it into trading on the DEX-platform, for which they'll surely give more points than just for the lock of funds.

Instructions

1. https://reya.network - go to the official site, connect the wallet.
2. Click "Reserve boost." The earlier you enter, the bigger the boost. Choose Arbitrum or Optimism network, as it's cheaper. In these networks, you need to use USDC.e (you can swap to deBridge).
3. If you've participated in Voltz before, you'll get some extra perks.
4. Once you've made your deposit, you can activate an additional boost at the top of the page. This multiplier drops randomly for two days, and every two days during the event, you should re-roll it.

Sources:

https://docs.reya.network/ - official docs of the project.