Overview

Coinshift is a DeFi protocol building advanced yield and liquidity strategies around csUSDL, a secure stablecoin designed for institutions and large-scale investors.

To accelerate adoption, the team set out to launch an incentives program that could reward users for providing liquidity and engaging across multiple DeFi integrations.

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The Challenge

Coinshift’s core objective was to drive adoption of csUSDL as a widely used, composable stablecoin. Achieving this required incentivizing its use across multiple pools and protocols, which brought several challenges for the team:

• Liquidity bootstrapping: how to attract sufficient TVL for csUSDL across top DeFi protocols to establish depth and trust.
  
  
• Cross-protocol tracking: user actions like supplying collateral, holding YT/LP positions or providing liquidity happened in external protocols, making it difficult to track participation consistently.
  
  
• Differentiated reward model: not all actions had the same strategic value; the program needed to reward both users and referrers while assigning different weights to each action (e.g., stablecoin holding vs. leveraged liquidity provision).
  
  
• Operational efficiency at scale: the program had to be fully automated, since manual calculations would not work with large-scale adoption.
  
  
• User visibility and trust: participants required a transparent experience where they could clearly see how their actions translated into points and rewards.

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The Solution

Coinshift leveraged Fuul’s infrastructure to launch the Shift Points Program quickly and at scale, without engineering overhead. Through Fuul they were able to implement the core components needed to track activity, assign rewards and provide users with full visibility:

• Integrated protocol triggers: Set up on-chain triggers detecting user actions across Morpho, Pendle, Balancer, Contango, Spectra and Gearbox, covering supply, collateralization, LP provision and leveraged strategies.
  
  
• Differentiated reward engine: Defined points per action with custom multipliers (e.g., 5x for holding csUSDL, 12x for collateral on Morpho, up to 30x for Pendle LP positions), aligning rewards with the strategic value of each activity.
  
  
• Referral program setup: Activated a native referral system through Fuul, rewarding referrers with a 10% bonus in SHIFT points based on what their referees earn.
  
  
• Real-time TVL tracking: Monitored liquidity per action, ensuring rewards directly incentivized csUSDL adoption across protocols.
  
  
• Full automation: Rewards accrued and distributed automatically through Fuul’s infrastructure, eliminating manual calculations and enabling scale.
  
  
• White-label dashboard: Surfaced all actions, multipliers and accrued rewards directly inside the Coinshift app, built as a branded dashboard on top of Fuul’s API/SDK.

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"Fuul made it possible to unify incentives across six different protocols without adding engineering overhead. Everything, from triggers to multipliers, was automated and scalable"

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Conclusion

Fuul enabled Coinshift to unify incentives across six major DeFi protocols and roll out a scalable, automated program that directly drove adoption of csUSDL. Through differentiated rewards and full integration in their own app, users could clearly see how each action, from stablecoin holding to leveraged liquidity provision, translated into points and multipliers.

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