Introducing DFYN Yield Farming Phase 6
With the fifth phase of yield farming on Dfyn.network coming to an end, we are excited to announce the sixth phase of the liquidity mining initiative on Dfyn.network.
Ever since the launch of $DFYN token in early May, Dfyn exchange has witnessed tremendous growth, both in terms of user base and TVL. In our bid to reward community members who have consistently demonstrated their faith in the project, Dfyn has launched an elaborate liquidity incentivization campaign. The first five phases of this campaign have enabled Dfyn.network to maintain its position as one of the top DEXes on Polygon. As with the previous farms, this phase of farming will also have a number of opportunities for the DFYN community to stake their tokens and earn attractive rewards.
In the fifth phase of liquidity mining initiative, ROUTE-DFYN dual farm and all the ecosystem farms were renewed for a month. However, the popular farms were only renewed for a duration of 15 days. With the sixth phase of farms, we are renewing all the popular farms, with the exception of QUICK-MATIC farm, for a period of 45 days. Sixth phase of farming will also see the addition of three new ecosystem farms (SING-DFYN, BIFI-DFYN and RAZOR-ETH) and one new dual farm (RAZOR-DFYN).
Important Notes:
As we dive into the sixth 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 5 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. Like we did with the fourth phase of farms, the proceeds from the fifth phase of farms will be collected and burnt before the end of this week.
Dual Farms
Dual Farming pools allow users to stake LP tokens and earn rewards in 2 different tokens.
RAZOR/DFYN LP Tokens
In the RAZOR/DFYN dual farm, Razor and Dfyn community members will have the option to stake RAZOR/DFYN LP tokens for a duration of 1 month and earn $DFYN and $RAZOR tokens as rewards. This pool will have daily rewards of 4,000 $RAZOR tokens and 375 $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 16 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, CURVE, and UNI for a period of 45 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. 45 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 stablecoin and ETH farms, we have decided to allocate a higher daily reward emission to them.
Ecosystem Farms
Following the massive demand for more ecosystem farms, we have decided to add three new ecosystem farms in this phase of the liquidity mining program. In ecosystem farms, there is no lock-in period of assets and also rewards will accrue block by block and can be claimed and withdrawn anytime.
BIFI-DFYN
In the BIFI/DFYN ecosystem farm, Beefy Finance and Dfyn community members will have the option to stake BIFI/DFYN LP tokens for a duration of 1 month and earn $DFYN tokens as rewards. This pool will have daily rewards of 700 $DFYN tokens which will be distributed amongst all liquidity providers in proportion to their liquidity position in the pool.
SING-DFYN
In the SING/DFYN ecosystem farm, Singularity and Dfyn community members will have the option to stake SING/DFYN LP tokens for a duration of 1 month and earn $DFYN tokens as rewards. This pool will have daily rewards of 300 $DFYN tokens which will be distributed amongst all liquidity providers in proportion to their liquidity position in the pool.
RAZOR-ETH (Rewards in $RAZOR)
In the RAZOR/ETH ecosystem farm, Razor community members will have the option to stake RAZOR/ETH LP tokens for a duration of 1 month and earn $RAZOR tokens as rewards. This pool will have daily rewards of 4,000 $RAZOR tokens which will be distributed amongst all liquidity providers in proportion to their liquidity position in the pool.
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!
About Dfyn
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.
Website: https://www.dfyn.network/
Telegram: https://t.me/Dfyn_HQ
Discord : https://discord.gg/yjM2fUUHvN
Twitter: https://twitter.com/_DFyn
Telegram Announcements: https://t.me/dfynofficial
