Introducing DFYN Yield Farming Phase 5
As the fourth phase of yield farming on Dfyn.network draws to a close, we are thrilled to announce the fifth phase of the yield farming initiative on Dfyn.network.
Dfyn’s liquidity mining initiative is an essential facet of our ongoing commitment to rewarding our users for their belief in our project. In the last three months, we have partnered with over ten projects and launched over fifty farms. The first four phases of the liquidity mining programs have enabled Dfyn to maintain its position as one of the top DEXes on Polygon, both in terms of volume and TVL. The fifth phase of farming, like the previous farms, will include several opportunities for the DFYN community to stake their tokens and earn attractive rewards.
In the fifth phase of the liquidity mining initiative, most of the popular and ecosystem farms have been renewed with slightly different pool rates. To reward users who have shown trust in $DFYN and $ROUTE tokens, and by extension in the project itself, ROUTE-DFYN dual farm has been reiterated with a higher daily emission. One noteworthy change in this phase of farms is the decrease in the lifecycle of popular farms from 30 days to 15 days. Ecosystem farms and dual farms, on the other hand, will retain their previous lifecycle of 30 days. Following the massive community demand for single asset vaults, we have also decided to launch two new single asset vaults where the community can stake their $DFYN tokens.
As we dive into the fifth phase of the liquidity mining program, there are a few essential things that we want to bring to the community’s notice —
Ongoing Farms: The launch of new farms will not affect the state of existing farms. All the ongoing farms will continue to function as they are intended to.
Burning rewards: Staking funds in our phase 4 popular farms comes with an early redemption option which enables users to opt-out of vesting their $DFYN rewards by forsaking 35% of their rewards. As we did with the second and third phases of farming, the proceeds from the fourth phase of farms will be collected and burnt before the end of this week.
Single Asset Vaults
Two single asset vaults, both with the limit of 300,000 $DFYN tokens will be launched in this phase. The initial capital and the rewards accrued from these vaults can be claimed linearly.
Note: The vault will fill up on a first-come-first-serve basis.
DFYN 4 month Vault
In this pool, Dfyn community can stake up to 300,000 $DFYN tokens for a duration of 4 months and earn 60,000 $DFYN tokens as rewards. This would translate to extra 20% tokens for staking your tokens for 4 months. In other words — for every $DFYN token you stake, you receive 0.2 $DFYN token as a reward in 4 months.
DFYN 6 month Vault
In this pool, $DFYN token holders can stake up to 300,000 $DFYN tokens for a duration of 6 months and earn 120,000 $DFYN tokens as rewards. This would translate to extra 40% tokens for staking your tokens for 6 months. Basically, for every $DFYN token you stake, you receive 0.4 $DFYN token as a reward in 6 months.
Dual Farming pools allow users to stake LP tokens and earn rewards in 2 different tokens.
ROUTE/DFYN LP Tokens
In the ROUTE/DFYN dual farm, Dfyn and Router community members will have the option to stake ROUTE/DFYN LP tokens for a duration of 1 month and earn $DFYN and $ROUTE tokens as rewards. This pool will have daily rewards of 4,000 $ROUTE tokens and 14,000 $DFYN tokens which will be distributed amongst all liquidity providers in proportion to their liquidity position in the pool. In dual farms, there is no lock-in period of assets and also rewards will accrue block by block and can be claimed and withdrawn anytime.
Popular and Stablecoin Pools
There will be a total of 17 pools that will allow users to stake their stablecoins, including DAI, USDT, UST and USDC as well as other popular coins like WBTC, ETH, ROUTE, DFYN, MATIC, CURVE, and UNI for a period of 15 days. These pools will have high rewards resulting in significant APRs. The rewards can be claimed at the end of the staking period i.e. 15 days. Liquidity providers will have the choice between delayed vesting of rewards over a period of 6 months (25% in 4 tranches —Day 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 with the remaining rewards burnt.
Considering the high amount of liquidity staked in WBTC-ETH farm, we have decided to allocate a higher daily reward emission to it.
Following the success of ecosystem farms, we have decided renew all six of the existing ecosystem farms in the fifth phase of the liquidity mining program.
Note: Rewards are in $DFYN token.
We hope the DFYN community will welcome the addition of these farms. We have more farming initiatives rolling out over the next few weeks. Stay tuned!
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.
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