Dfyn Network Announces Partnership With Ferrum Network
We are thrilled to announce that we have partnered with Ferrum Network, a leading DeFi ecosystem that provides infrastructure for swapping, staking, and transferring cryptocurrencies. The partnership will benefit all ecosystems involved, increasing the reach of Ferrum Network and bringing new opportunities to the Dfyn and Router communities.
The unprecedented growth rate the DeFi industry has experienced in the past year has brought to light the need for better and more scalable infrastructure for providing passive yields. With liquidity provision becoming the main driving force of decentralized finance, a huge gap in the market has been revealed — good staking and LP infrastructure are often reserved only for the large projects.
Created with the goal of filling up the above-mentioned gap in the market, Ferrum has built a DeFi ecosystem that enables protocols to thrive and offers them a slew of user-friendly products aimed at removing barriers for mass adoption. Ferrum Network’s staking contract is one of the most popularly used staking mechanisms in the industry.
Staking alone can be powerful but Dfyn can help put the liquidity to good use as well. With collaborating with Dfyn — the liquidity providers will be able to earn reward fees as well as the reward tokens from various farms.
In the first step in this three-way partnership, Ferrum will be adding liquidity to the Dfyn Exchange in the form of an FRM/ETH pair, enabling the communities of both the projects to trade the liquid FRM token with sufficient liquidity in a gasless manner.
Following the addition of FRM/ETH, an FRM/ROUTE or FRM/DFYN Galaxy farming cohort will be released on Dfyn. By pairing FRM and ROUTE or DFYN tokens and providing liquidity to the cohort, liquidity providers will be able to earn rewards in various other tokens. In the Ferrum Galaxy Farm, projects from Ferrum eco-system will have liquidity farms in Dfyn Network and liquidity providers in any of the Ferrum projects or FRM/ROUTE or FRM/DFYN pair will be able to earn rewards of all of the participating projects at the same time.
While other participants of the cohort will be announced in the following weeks, they will all be FAS-incubated project tokens.
We believe this will lead to a significant increase in TVL for the Dfyn Network. Connecting with Ferrum and their growing catalog of Tier-1 DeFi projects will increase the visibility both for Router and Dfyn, bringing new use cases to the cross-chain interoperability infrastructure we’ve been building.
Stay tuned for more updates about the upcoming Farming Cohort on Dfyn and future announcements about other steps in our partnership with Ferrum.
Dfyn is a multi-chain AMM DEX currently functional on the Polygon network. Dfyn nodes on various chains act as liquidity entry and exit points into the cross-chain liquidity super mesh that is being enabled by Router Protocol.
Telegram Announcements: https://t.me/dfynofficial
About Ferrum Network
Ferrum Network is building a DeFi ecosystem that interoperates across chains and removes barriers to mass adoption with user-friendly products for swapping, presales and incubations, staking, anti bot services, and transferring cryptocurrencies.
About Router Protocol
Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
Telegram announcements: https://t.me/router_ann