[PRESS RELEASE – Please Read Disclaimer]Given increasing Ethereum costs and the high friction associated with L1, Polygon and Router are teaming up with leading crypto projects to enable instant, gasless trading, and farming for Defi.Background: Router Protocol is building a cross-chain liquidity protocol and the first node of the Router Protocol is Dfyn.network which is a functional AMM-based DEX on Polygon (Previously Matic). This yield farm will be based on Dfyn.network, i.e. the projects and participants will have to add liquidity on the Dfyn.network to be able to participate in the L2 GalaxyFarm which will introduce gasless farming for this ecosystem.Projects from the Polygon and Ethereum ecosystem will be participating in GalaxyFarm to reward their communities in the cross-project
Topics:
Press Release considers the following as important: Press Release
This could be interesting, too:
Chainwire writes Coinshift Launches csUSDL, Announces Strategic Partnerships
Chainwire writes Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
Chainwire writes USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Chainwire writes Fueling KYVE’s Expansion Era: A New Age of Interoperable Data Opportunities For All
[PRESS RELEASE – Please Read Disclaimer]
Given increasing Ethereum costs and the high friction associated with L1, Polygon and Router are teaming up with leading crypto projects to enable instant, gasless trading, and farming for Defi.
Background: Router Protocol is building a cross-chain liquidity protocol and the first node of the Router Protocol is Dfyn.network which is a functional AMM-based DEX on Polygon (Previously Matic). This yield farm will be based on Dfyn.network, i.e. the projects and participants will have to add liquidity on the Dfyn.network to be able to participate in the L2 GalaxyFarm which will introduce gasless farming for this ecosystem.
Projects from the Polygon and Ethereum ecosystem will be participating in GalaxyFarm to reward their communities in the cross-project farming experiment.
The project will run in cohorts and there will be a minimum of 3 cohorts. A project can be part of 1 or many cohorts. Assuming, there will be 6 projects in each cohort. Router and Polygon will be participating in each cohort, which leaves space for 4 projects in each cohort.
The special thing about these farms is that users will be able to stake just 1 LP pair and earn rewards of 6 different tokens at the same time. For example, the user staking ROUTE will earn tokens of ROUTE, POLYGON and 4 other cohort participant projects at the same time. The rewards will be distributed in an equal ratio.
Each project will be adding rewards of $30,000 to the pool so overall $180,000 of rewards will be distributed for the liquidity providers over 30 days. Staking period will be for 30 days and Users are allowed to un-stake anytime.
Previously Router Protocol had launched SpaceFarm which was a runaway hit among the communities. GalaxyFarm will be launched on March 9th, at 2 PM UTC.
Route TG – t.me/routerprotocol
DFyn TG – t.me/Dfyn_HQ