Flipside Quests Launch Encouraging the Community to Experience DeFi on Stellar

Layer 1 blockchain Stellar, is working with data hub and growth strategists Flipside Crypto, to onboard more users to the chain’s growing DeFi scene.

Flipside introduces “intelligence-driven growth” metrics and tactical solutions for creating sustainable success for scaling products in crypto, and has worked within ecosystems such as Solana, Avalanche, and now Stellar.

Flipside is incentivizing and awarding onboarding activity for the Stellar network, and any Stellar DeFi user that leverages Hana Wallet or Freighter Wallet can partake in the campaign.

Some of the introductory tasks feature actions like swapping USDC for XLM, depositing in liquidity pools through automated market makers (AMM) like Aquarius, and utilizing DeFi lending protocols such as Blend.

These actions not only familiarize new users with the basics of the ecosystem, but contribute to the overall onchain liquidity and ecosystem health on the Stellar network.

Quest participants can receive 10% of their transaction value back as an incentive, but the pools are limited based on the amount of active participants in the campaign, as each task bears a maximum USDC kickback cap. This gives the most proactive users a chance to earn on top of Stellar’s cost-competitive environment.

The low gas fees of the Stellar network paired with the chain’s quick consensus creates a snappy and efficient environment for both casual and DeFi power users.

The DeFi ecosystem on Stellar is continuing to scale successfully, and is currently at a new all-time high of total value locked in DeFi, after reaching the $70 million mark on May 23.

The TVL is led by protocols such as Blend, Aquarius, other decentralized exchanges like LumenSwap, and Franklin Templeton’s FOBXX onchain real-world asset fund.