Following the success of our previous liquidity mining programs, we are excited to announce the launch of Terra Community farms on Dfyn.
To welcome the Terra community to the Polygon network, Dfyn will be allocating ~1% of its total token supply (2.5 million $DFYN) towards farming rewards for Terra community over the next few months. The initial liquidity mining program will consist of two pairs — UST/USDT and LUNA/DFYN.
The Dfyn-Terra farms will launch under Dfyn’s ‘Popular Farms’ sections and enable users to accrue vested rewards across a period of 1 month from June 8 2021.
Both farms will have vested rewards in 4 separate tranches in every alternate month starting from the end of the staking period. 25% of the rewards will be distributed on Day 0, 25% on Day 60, 25% on day 120, and 25% on Day 180.
Liquidity providers will also be able to choose an accelerated vesting plan — users can claim 50% of their pending rewards and have the rest burned. This option can be selected by toggling off the vesting rewards button.
Both the UST/USDT and LUNA/DFYN pairs have launched now. The rewards for both farms will be paid out in DFYN, with 8,000 tokens being distributed each day. Therefore, the monthly reward rate will be 480,000 DFYN tokens.
At the end of every staking period, we will be reviewing and adjusting the rewards based on the total value locked (TVL) in the protocol. Rollover contracts will enable stakers to unstake and then re-stake the same LP tokens.
To boost participation and reward the most dedicated users, Terra.Money will be allocating rewards for the community by holding a series of trading competitions. The competitions commence in a few weeks from now.
Dfyn is excited to bring together the exciting Terra community and the fast-growing Polygon ecosystem in what is clearly becoming a multi-chain, cross-chain future. Stay tuned for more updates and announcements regarding the upcoming Terra farms.
About Terra Money
Terra is a proof-of-stake (PoS) public blockchain network built on Tendermint and the Cosmos SDK. Terra deploys a suite of fiat-pegged, algorithmic stablecoins powering a thriving ecosystem of DeFi applications, including Mirror and Anchor Protocol. With a goal of mass adoption, Terra’s UST stablecoin, the fastest-growing in the crypto market, is quickly becoming the leader in the emerging world of cross-chain DeFi.
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.
Telegram Announcement: https://t.me/dfynofficial