With the upcoming launch of our platform, we want to describe how users will be able to engage with LP farming on our DEx. We expect our farms to start within two weeks of the launch of our DEx and BAR.
Stakeless LP farming
As previously described (with the launch of our Stakeless LP farming), users will only need to hold the LP tokens in their wallet to start earning rewards. To facilitate this, we’ve introduced a few unique features in the way users farm.
Read more here: http://bit.ly/NONcustodialLPfarming…
Daily Rewards Cycle
Our farming is conducted on a 24 hour cycle. With the requirement of holding liquidity for two cycles, before eligible to harvest rewards.
Our farming is split into two stages: pending rewards, and available rewards. We also show the estimated rewards for the current farming cycle (24 hours). Once the countdown reaches zero on a given cycle, estimated rewards move to pending rewards. Pending rewards from the previous cycle will move to available rewards. At that point, a user can harvest their farm.
A simplified flow of farming is as follows:
Cycle 1 (0–24 hours)
Estimated daily rewards shown
Cycle 2 (24–48 hours)
Estimated rewards are moved to pending rewards.
Cycle 3 (48+ hours)
Pending rewards move to available rewards, at which point are available to be harvested.
The timer is a release of reward tokens, rewards are constantly being calculated in the background
We have focused on the user experience when developing our farms on the platform. Our liquidity pools and farms will all be managed from the ‘Home’ page exclusively. All liquidity pools that have a farm available, will have a farming symbol tied to the pair (image 1).
If the user holds the LP token for one of the pools with a farm, another symbol will appear to indicate that the user is farming rewards (image 3). With each LP pair, the user is given important information regarding that pool. This includes token price, TVL, 24 hour volume, and APR on the farm. The user can choose to expand details to see the reverse token price, the percentage pool ownership of the user, total LPs minted for the pool, and the current emissions being given to the farm (image 4).
VyFinance plans to be the most comprehensive DeFi platform on Cardano. We intend to launch with forty farms, so users that hold almost any CNT will be able to engage with farms on our DEx. Below is a list of tokens that will earn rewards on our platform once our farming has launched, with either ADA and/or Stablecoin pairs (this list is not comprehensive, and may change prior to launch):
$VYFI — $SHEN — $HOSKY — $AGIX — $DRIP — $ADAO — $XVYFI — $MELD — $COPI — $C3 — $REVU — $IAG — $WMT — $CLAY — $MILK — $GERO — $NEWM — $FLAC — $LQ — $NMKR — $AADA — $NTX — $EMPOWA — $BOOK — $MIN — $IUSD — $INDY — $GENS — $RAD — $WR — $IBTC — $YUMMI — $DING — $C4 — $DJED — $APE — $SOCIETY — $MCOS — $MUTANT
We are very proud to bring stakeless LP farming to crypto for the first time! This will make engaging with farms on DeFi a far simpler process for the users, and there will never be the opportunity for any users to miss out on rewards!