The decentralized finance (DeFi) platform Agility has seen a surge in interest and user deposits after introducing a token incentive program to coincide with Ethereum's Shapella upgrade. The protocol's total value locked (TVL) has gone from about $60 million to more than $337 million in the past week, as more than $276 million was transferred to Agility by users.

The platform specializes in streamlining the trading of liquid staking derivative (LSD) tokens and it offers users the chance to swap one LSD for another, like for example, staked ether (stETH) from Lido Finance for the rocket ether (rETH) from Rocket Pools. With Agility, users can increase the liquidity of various LSD assets while also obtaining more control and flexibility over their assets. This is similar to the decentralized exchange Curve, a popular provider of stablecoins.

In the last 24 hours, Agility's staking pools have seen inflows of over $110 million, as 68,100 staked ether was deposited in 125 accounts. The main reason behind the success of the protocol is likely to be the significant increase in activity generated by the Shapella upgrade. Furthermore, users have also been encouraged by the high yields currently offered by Agility: a 60% annualized yield on stETH deposits, which is significantly higher than the 4.3% offered by Lido Finance. This incentive program does have an end date, however, although it is unlikely to take effect before user interest dies down.

The protocol's native token, AGI, has experienced a 118% price increase in the past week, from $0.27 to $0.59. AGI is currently trading at around $0.56.

In conclusion, the improved liquidity, yield, and the token incentives by Agility have contributed to the success of the DeFi platform. The upgrading of the Ethereum network, together with the expansion of decentralized staking protocols such as Lido Finance and Rocket Pool, has propelled an influx of user deposits and produced a positive effect on the native token. As of today, Agility has nearly five times the value locked it had just a week ago.



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