R2 Protocol Launches Amid Reward Challenges: What You Need to Know Now

R2 Protocol launches on Ethereum with Innovative Vaults

On September 26, R2 Protocol went live on Ethereum, introducing two new vaults backed by major institutions. The launch attracted over 154,000 users, with a Total Value Locked (TVL) of $121,290.

However, the rewards program sparked controversy. Users must deposit 100 USDC to unlock 100 R2 tokens. Many felt this was unfair, as it excluded smaller testers or those unwilling to deposit.

One user commented, “You want this airdrop, he wants your capital!” Another added, “Thank god I have some USDT for compensation.” The team responded, stating that every user would recieve 100 R2 tokens. However, unlocking them requires a 60-day deposit of 100 USDC, offering a 50% Annual Percentage Yield (APY).

The team explained, “Only by growing TVL together can we secure better institutional offers and give back more to early users.”

Eligible users must have made at least one swap on the R2 testnet and meet the basic points threshold. They must connect their wallet and invest USDC into one of the vault options.

R2 Protocol’s mainnet launch followed a prosperous testnet phase with over 385,000 registered addresses and 50,000 daily active users. The launch included partnerships with major institutions like Apollo, Mercado Bitcoin, and BlackRock.

Two flagship Real-World Asset (RWA) wealth management products were introduced: the T-Bills Vault and the Private Credit Vault. The T-Bills Vault, backed by tokenized U.S. Treasuries, offers a 4% net APY. The Private Credit Vault, backed by curated private credit portfolios, targets a 9% to 10% net APY.