Early Christmas gift for our community: Exciting popular farms on Polygon, early renewal of Fantom farms, and much more…
With the eighth phase of yield farming on Dfyn.network coming to an end, we are excited to announce the ninth phase of the liquidity mining initiative on Dfyn.network. Since our Fantom farms are also drawing to a close within this week, we have decided to reward our Fantom community with an early Christmas present: we are renewing our farms while the existing ones will remain live. That’s right! For five days, there will be two farms for the same pairs.
Our incentivized liquidity program on Fantom has also proved to be a massive success, allowing Dfyn to maintain over $5 million in liquidity over the last few months. As with the previous farms, this phase of farming will also have several opportunities for the DFYN community on Polygon and Fantom to stake their tokens and earn attractive rewards.
As we dive into the ninth 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 eighth phase of farms will be collected and burnt within a couple of weeks.
In the ninth 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.
There will be a total of 17 pools (12 on Polygon and 5 on Fantom) that will allow users to stake their stablecoins, including USDT, UST and USDC as well as other popular coins like WBTC, ETH, ROUTE, DFYN, MATIC, and SOL for a period of 30 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. 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.
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 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 12,833 $EMON tokens and 800 $DFYN tokens which will be distributed amongst all liquidity providers in proportion to their liquidity position in the pool.
With this phase of the liquidity mining program, we are discontinuing UNI, LINK, AAVE, LUNA, and CRV ecosystem farms. However, we are launching two new farms in DFYN/MANA and DFYN/NEXO, with many more planned for the future. 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.
Note: Duration of DFYN/MANA and DFYN/NEXO farms is 30 days, while the duration for AGAr/AGA farm is 90 days.
We hope the DFYN community will welcome the addition of these farms. We have more farming initiatives rolling 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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