Introducing Dfyn Incentivized Liquidity Program on Fantom
While Dfyn was initially launched on Polygon, Dfyn was always intended to be a multi-chain AMM. To this end, today we are happy to announce farming on our Dfyn node on Fantom, following up on our pilot launch a few days ago.
(For those of you that are new to Dfyn, please check out our 3-month recap post from early August this year.)
To celebrate the launch of yield-farming on Fantom we will also be launching a liquidity mining program on our newly supported network! Users can migrate their liquidity and deposit into our liquidity pools after connecting to the Fantom network.
Initial pairs eligible for DFYN farming rewards are DFYN-FTM, USDC-fUSDT, WBTC-ETH, and DFYN-USDC. We will begin the new liquidity mining program with 30,000 DFYN distributed daily as an incentive. The distribution will be as follows:
These four pairs are only the beginning, and additional pairs will be added in the near future, in collaboration with various Fantom ecosystem partners as well as with Fantom itself. Similar to the roadmap with Dfyn on Polygon a few months ago, these will be pre-staking farms. Various other farm categories, as well as our single-asset vaults and the vDfyn staking program will also be launched in due course.
The farms are now open for deposits and the liquidity incentives will start at 3:00 PM UTC on Tuesday, October 25. In other words, yields will start accruing only starting from this time, and the community will have an opportunity to deposit LP tokens and set up their farming strategies till that time.
Our inaugural liquidity mining program will run for 30 days before rewards and pairs are relaunched for the next cohort.
A total of 900,000 DFYN will be designated for this program, representing less than 0.5% of the total supply.
The rewards can be claimed at the end of the staking period i.e. 1 month. Liquidity providers will have the choice between delayed vesting of rewards over a period of 6 months (25% in 4 tranches — Month 0, Month 2, Month 4, Month 6) or an immediate unlock of all rewards by claiming 65% of their rewards at the end of the staking period. The remaining unclaimed 35% of rewards will be burnt immediately, in case of the early redemption option.
We are excited to roll out this program and to continue to build out the DFYN community and ecosystem through this expansion and this collaboration with the Fantom ecosystem. We thank both the robust communities for their enthusiasm and support, and look forward to your participation!
Important usage notes :
- You can connect your Metamask wallet to Fantom by going to Dfyn Exchange and selecting ‘Fantom Opera’ or you can also manually add it to the wallet.
- To Bridge your $DFYN tokens from Ethereum to Fantom, please use the Anyswap bridge. If your tokens are on Polygon, you will have to first bridge them to Ethereum using the Polygon bridge and then bridge it to Fantom using the Anyswap bridge.
- Now that you have read this far, we are also considering retrospectively airdropping some tokens to top liquidity providers in Fantom in the initial days.
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.
Discord : https://discord.gg/yjM2fUUHvN
Telegram Announcements: https://t.me/dfynofficial