As the seventh phase of incentivized liquidity mining program on Dfyn.network comes to an end, we are thrilled to announce the eighth 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 incentivized liquidity program on Fantom. This month, we also restructured the overall $DFYN tokenomics to ensure long-term ecosystem stability, to give us some additional runway by damping down on inflation, and also give us the ammunition to expand to multiple chains and go cross chain with the impending Router mainnet launch. On the product front, we are working on a DFYN v2 which is similar to Uni v3 in terms of capital efficiency and institutional user experience.
As we dive into the eighth 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 8 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 seventh phase of farms will be collected and burnt within a couple of weeks.
In the eighth 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 2,500 $ROUTE tokens and 12,000 $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 12,833 $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 13 pools that will allow users to stake their stablecoins, including USDT, UST and USDC as well as other popular coins like WBTC, ETH, ROUTE for a period of 30 days. This time, we are also introducing new pairs with two new tokens — SOL and MANA. 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.
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 and Fantom. 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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