💎 A new treasure has washed ashore in Neverland: AUSD!

We are proud to announce AUSD by Agora (@withAUSD) as our newest supported market - going live on mainnet day one! Supply or borrow AUSD on Neverland to earn interest and rewards today!

💎 A new treasure has washed ashore in Neverland: earnAUSD!

We are proud to announce earnAUSD by @upshift_fi as our newest supported market! Supply or borrow earnAUSD on Neverland to earn interest and rewards today!

Less than a week live on mainnet and the Neverland team continues to ship! Here are some of the improvements we have made to our UI in the past few days:

✨ MARKETS PAGE
- The supply & borrow APY now also displays the additional APR revenue available for locking DUST rewards, and the tooltip breakdown shows how much of the rewards come from the underlying asset, the DUST rewards, and the USDC lock revenue.
- The Markets page is now organized by category (yield bearing assets, stables, etc.) - but can still be filtered and sorted according to user preference!
- The utilization per market is now displayed directly on the Markets page (you no longer need to check out the analytics page to view this).

✨ DASHBOARD
- The Neverland Dashboard has been updated to include a toggle where users can easily opt between enabling or disabling the use of supplied assets as collateral.

🫧 Our new LP Rewards page is LIVE!

DUST liquidity providers can also earn AUSD (from Neverland’s protocol revenue) as incentive to provide liquidity for DUST. Liquidity provisioning results in lower market volatility for DUST.

Visit our LP Rewards page to learn more! 🧜‍♀️

Neverland Explorer’s Log: Weekly Updates

✨ Protocol Metrics:
- New TVL Milestone: $8.28M
- Average Utilization Rate: 64%
- Total Revenue: $8.85k
- Active Users: 1,465

✨ Technical:
- Updated dashboard to display users’ daily ROI
- Launched our LP Rewards page to display current LP rewards APR, links to join the LP, and Merkl campaign rewards claiming directly on our app
- Wording fixes on frontend for improved clarity and uniformity across the app

✨ Operations:
- Dune dashboard is underway for easier tracking of protocol analytics
- Increased daily rewards for LP campaign on Merkl thanks to higher weekly revenue

✨ Security:
- Began our third audit with Composable Security, reviewing our newest smart contracts (automated yield strategies, debt swap, collateral swap, etc.)
- Began a security scan with Octane for an additional examination of our smart contract security (special thanks to the MF team for arranging!)

Automated self-repayments continue as we conclude our third weekly epoch!

- 39 users opted to enable “Self Repayment” with their veDUST this week.
- $396 was routed to repay their loan positions automatically.
- This week, aggregation for swaps to respective debt assets was powered by Clober

To enable self-repaying loans:
1. Lock DUST to mint veDUST. This can be done when claiming rewards, or you can create a lock with DUST bought on the market under the Governance tab.
2. Enable loan repayment from your veDUST revenue on the Rewards page.

Now sit back and relax, and enjoy watching your veDUST revenue repay your loans for you! ✨

We are delighted to introduce a new advanced lending interface for DeFi power users, offering a streamlined view with an all-in-one action panel, live earnings projections, interest rate charts, smart asset conversions, and real-time risk, utilization and yields tracking. The simplified view will also remain available so users can choose the amount of information they would like displayed when managing positions.

Visit our Markets page and click the “PRO” button to test out Pro Mode today! To share feedback, please visit our Discord server!

45,065 DUST ($38,625) has been burned this week from our in-house deflationary mechanisms.

Total DUST burned: 148,632 DUST
Circulating Supply: 329,220 DUST

Notice: We are migrating our liquidity pool (again)!

Balancer has temporarily paused their reCLAMM Pools. Swaps have been disabled at this time. All funds are safe!

We are so grateful to have a vocal community that is so passionate about Neverland and not afraid to share their views with our team. After listening and discussing with our users after the liquidity pool migration yesterday, and due to the reCLAMM pool pause today, we have decided to move our LP Rewards program back to Uniswap.

The new pool that will receive rewards for our Merkl campaign will be a Uniswap V2 pool. This will prevent the repositioning and active management required by users in order to participate in our LP Rewards program. Simply pair equal-in-value amounts of DUST and USDC and begin earning rewards on Merkl as usual.

Tip: Remaining balances of DUST from former LP positions can be locked to veDUST for additional USDC revenue!

We are very sorry for the additional friction caused by this transition and appreciate your understanding as we respond to the situation!

Join the new Uniswap V2 Pool here!

With the return of the Full Moon, the second Tide of our Leaderboard has now completed! Pearl accumulation has been reset and Tide Three will begin shortly.

Congratulations to our winners! Your reward will be sent to you automatically. You do not need to create a ticket or complete any transaction.

Tide Three will come to an end when the full moon returns!

View the Tide 2 Winners here!