Introducing DFYN Yield Farming Phase 7
As the sixth phase of incentivized liquidity mining program on Dfyn.network draws to a close, we are excited to announce the seventh phase of yield farming initiative on Dfyn.network.
The team at Dfyn.network has been working on a number of exciting new things, be it Dfyn Fusion, or the launch of Dfyn nodes on different chains. Dfyn recently added support to Fantom chain and we are we are gearing towards expanding Dfyn Exchange on other chains as well.
While innovation and product improvement remains at the top of our priority list, Dfyn’s liquidity mining initiative is also an essential facet of our commitment to rewarding our community. The first six phases of the liquidity mining programs have been a major driving force behind Dfyn’s growth in the last few months. The seventh phase of liquidity mining program, like the previous phases, will include several opportunities for the DFYN community to stake their tokens and earn attractive rewards.
As we dive into the seventh phase of the liquidity mining program, there are a few things that we want to reiterate —
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 6 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 previous phases of farming, the proceeds from the fourth phase of farms will be collected and burnt within a couple of weeks.
In the seventh 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 also been renewed.
Dual Farming pools allow users to stake LP tokens and earn rewards in 2 different tokens. In dual farms, there is no lock-in period of assets and also rewards accrue block by block and can be claimed anytime.
In the ROUTE/DFYN dual farm, members of the Dfyn and Router communities will have the option to stake their 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 3,000 $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 the EMON/USDC dual farm, members of the Ethermon community will have the option to stake EMON/USDC LP tokens for a duration of 1 month and earn $EMON and $DFYN tokens as rewards. This pool will have daily rewards of 1,666 $EMON tokens and 400 $DFYN tokens which will be distributed amongst all liquidity providers in proportion to their liquidity position in the pool.
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 30 days. These pools will have high rewards which can be claimed at the end of the staking period i.e. 30 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.
Note: Rewards are in $DFYN token.
With the seventh phase of the liquidity mining program, we are renewing all the existing ecosystem farms that are coming to an end with the sixth phase of farming. In ecosystem farms, like dual farms, there is no lock-in period of assets and also rewards accrue block by block and can be claimed anytime.
We hope the DFYN community will welcome the addition of these farms. We have more farming initiatives rolling out on Fantom over the next week. 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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