EasyFi has decided to provide another form of utility to its EZ token through the DFYN Network. The EZ token will be available on DFYN Network through a brand new LP token farming program that will run on the DFYN Network Dual Farm module of the exchange. But before we dive into the details of this big announcement, let’s try to know little things about the EasyFi Network and DFYN.
Starting with Easyfi, it is a universal layer 2 lending protocol which is built for defi with attention on measurability, composability, and adoption. It is designed to be an open and inclusive financial network infrastructure that runs on public networks to bring about end-to-end lending & borrowing of digital assets and related financial products. With Easyfi, users can take loans against their tokenized stocks and commodities positions. Easyfi supports MicroLending, and they guarantee high Yield Apr. The platform has cross-chain abilities and several other unique features including Dual farming program which was recently added, and which this article focuses on. Dual Farming is where one can farm and stake one coin and the reward that comes with the staking can be used to farm and stake on a separate chain. It is more like yielding a double of different reward coins. Easyfi has great partnerships with giants like PanCake Swap, Mirror Protocol, Binance Smart Chain, Router Protocol, Clover, etc. To get more information about EasyFi Network and $EZ, check out their whitepaper through this link: https://easyfi.network/easyfi-whitepaper.html
DFYN on the other hand is a multi-chain Automated Market Maker Decentralised exchange currently functional on the Polygon network. The Router Protocol makes it possible for the DFYN nodes on numerous chains to act as liquidity entry and exit points into the cross-chain liquidity super mesh. Detailed information about the DFYN is given in the litepaper link: https://DFYN.network/assets/docs/DFYN-Litepaper.pdf (a documentation of the DFYN Network)
The Dual Farming Program
Easyfi Dual Farming pools on DFYN enables users to earn rewards in two different tokens from their staked LP tokens. Users can stake EZ/DFYN LP Tokens and Farm EZ as well as DFYN tokens simultaneously.
To do this, users would first need to provide liquidity to EZ/DFYN pool on DFYN network to get the EZ/DFYN LP token. The EZ/DFYN LP tokens can then be staked to earn rewards in $EZ and $DFYN tokens.
This is an exclusive opportunity to earn double rewards, and is open for a limited period. The Easyfi Dual farming program will run for two months (starting from 24th June, 2021 to 22nd August, 2021).
The dual farming pool has rewards worth $18000 each in $EZ and $DFYN tokens which will be distributed amongst all liquidity providers in proportion to their liquidity positions in the pool - with an annual percentage yield of 150%. There are no lock-in periods for assets in DFYN dual farms. The rewards accrue per block and can be claimed and withdrawn at any time.
To get started in the DFYN/EZ liquidity pool, use this link: https://exchange.DFYN.network/#/pool and for the LP dual farming, go here:: https://exchange.DFYN.network/#/dual-farms
Happy farming!