5 Jun // Updates
the garden monthly: may 2024
TL;DR: May at Garden has been fruitful! We've rolled out the Feehub module, introduced a "Pay with SEED" payment option, and started research on BTC-USDT/USDC atomic swaps. Season 3: Cherry Blossom has launched, amplifying SEED earning opportunities with a fresh rewards structure and innovative partner quests. Plus, our Ambassador Program is now inviting contributors to expand our community, and we've opened the gates for everyone to participate in Season 3 without prior requirements! 

🌿 gm gardeners! 🌼

This May at the Garden, our team has diligently focused on enhancing the Bitcoin DeFi ecosystem with substantial updates and innovations. Here's an overview of our progress this month:

Canon Event

Garden’s Season 3 got featured on Arbitrum’s official X handle; check it out:

We've also removed the Galxe quest requirement, opening our platform and also Season 3 to everyone. After executing 25000+ atomic swaps successfully and moving upwards of $780M in volume, this significant update means there are no prerequisites to Garden, swift BTC-WBTC swaps and the opportunity to share 5 million in SEED allocated for the third season.

Big Items

  • On May 13, we unveiled Season 3, which focuses on highlighting real-world applications of WBTC, beginning with Arbitrum. This season introduces a new rewards structure: users earn SEED by swapping between BTC-WBTC or WBTC-WBTC. The season continues until the 5 million SEED allocated for this season are distributed. 
  • Partnerships and Collaborations We've rolled out new quests featuring top projects in the Arbitrum ecosystem, like GMX, Radiant, and Vertex with more to come. Each project offers unique challenges designed to enhance your Bitcoin DeFi experience, such as providing WBTC liquidity, leveraging WBTC deposits, and exploring Bitcoin yield opportunities. To read more about the quests, visit: Season 3 Quests.

Technical Updates

  • Feehub Module: This module collects fees in SEED and redistributes them to our diligent stakers every epoch, seamlessly.
  • Pay with SEED: We've introduced a "Pay with SEED" option that allows you to pay for swap order fees in SEED. This is an alternative to the standard BTC/WBTC fee.
  • Innovative Swaps: Using atomic swaps, research is underway for effective non-1:1 ratio conversions like BTC-USDT/USDC.
  • Permanent Referral Code: We've introduced permanent referral links for select community members and ambassadors. Once you plant your referral code, it's there for good. If someone joins the Garden using your link, you'll earn 7% of the total fees collected on their trades. 

SEED Updates

45% of the total SEED circulating supply is currently staked, reinforcing the strength and stability of the Garden. Gardeners currently earn an impressive Annual Percentage Yield of 220% (APY at the time of publishing the article, APY changes every epoch) by staking their SEED, with the total value of SEED standing at over $1.25 million. To stake, visit: Stake SEED.

Other Cool Stuff

  • Impressive 24-hour Volume: We hit a whopping $7.8M in daily swap volume on May 13th.
  • Bitcoin Pizza Day Celebration: On May 22nd, we celebrated with a fun giveaway, tossing free BTC for pizza to three lucky community members. And a pizza party at the office! 
  • AMA Series: Launched with a session featuring Radiant Capital. Missed it? Catch up here.
  • Ambassador Program Kick-off: On May 28th, we invited all contributors to join our growing community. Interested? Learn more and apply here.

About Garden

Garden is the fastest way to swap BTC and WBTC, providing a 10x improvement over existing options. It is decentralized, trustless, audited, and not a real garden.

Don’t miss out! Come to our Garden townhall and connect with fellow gardeners.

Last edited on 2 Jul
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