Movement launches one-year Cornucopia liquidity enhancement program

The Movement ecosystem has announced Cornucopia: a one-year initiative to increase liquidity in Movement DeFi. Cornucopia represents abundance, good harvest, and huge potential returns for all participants. The initiative is divided into several phases, with the first phase starting last week. Both Cornucopia’s Concrete Vault and Veda Vault are now open.

About Cornucopia

Cornucopia has numerous vaults divided into 4 categories: BTC, ETH, Stablecoins, and MOVE vaults. Concrete and Veda manage these vaults, and users can deposit compatible assets into these vaults. After the 8-week lockup period, the assets will be unlocked and flowed back to users through the Movement application on the Movement Public Mainnet Beta (coming soon).

Currently users can deposit selected BTC, ETH and stablecoin assets into the Cornucopia vault, and the MOVE vault will be available soon.

Cornucopia Project Goals

Cornucopia Phase 1 aims to open the door to liquidity. It aims to create deep liquidity through these vaults for great developers and the community. Cornucopia has been committed to powering the growth of Movement DeFi since day one. The Movement Network Foundation wants everyone to experience the speed, security, and ease of use of Movement DeFi as soon as possible.

Here is information about the vault:

BTC Treasury ($300 million)

• Lombard (managed by Concrete )

DEX Liquidity: wBTC and LBTC ($100 million total) — Flowing to Meridian

Lending Liquidity: LBTC ($20 million total) - Flowing to Echelon

• SolvBTC (managed by Concrete )

DEX Liquidity: wBTC and solvBTC ($50m total) — Flowing to Canopy

Lending Liquidity: solvBTC ($40 million total) - Flowing to Echelon

• Lorenzo BTC (managed by Concrete )

DEX Liquidity: wBTC and stBTC ($50 million total) — Flowing to Liquidswap

Lending Liquidity: stBTC ($40 million total) - Flowing to MovePosition

ETH Treasury ($225 million)

• EtherFi (managed by Veda )

DEX Liquidity: wETH and eETH ($125M total) - Flowing to Liquidswap (100% DEX)

• Renzo (managed by Concrete )

DEX Liquidity: wETH and ezETH ($20m total) - Flowing to Meridian (100% DEX)

Lending Liquidity: ezETH (total USD 40 million) - Flowing to MovePosition (100% Lending)

Lending Liquidity: wETH (total USD 40 million) - Flowing to MovePosition (100% Lending)

Stablecoin Treasury ($190 million)

• Ethena Vault (managed by Concrete ) Total $150M - to Meridian , Movernance , Thunderhead

Vault 1 - USDe - 50 million USD

Vault 2 - sUSDe - $50 million

Vault 3 - USDC - $50 million

• USDC-USDT Vault (USDC and USDT) Totaling $40M - Flowing to Canopy

Vault 1 - $40 million

MOVE Vault ($6 million)

• Lending liquidity is managed by Concrete (flowing to Canopy )

Opening soon...

The Cornucopia liquidity program has begun accepting deposits, but this batch of vaults is only the first phase of Cornucopia. Subsequent phases will be gradually launched after the Movement public mainnet beta release (coming soon).