Coreto Announces New Router Protocol Partnership and Listing on Dfyn L2 Exchange
Farming Collaboration with GalaxyFarm 2
Coreto.io announced that they will be collaborating with GalaxyFarm-2, a new staking product developed by Router Protocol to enable liquidity providers of Coreto.io to farm multiple tokens in the GalaxyFarm — 2 pool. GalaxyFarm-1 has had a very successful launch, with more than $2.5Mln TVL reached in just a few hours of the launch.
Yield farming has spread in the crypto industry, becoming one of the most popular ways to profit from cryptocurrency investments in 2020. However, the enormous popularity of yield farming has resulted in the emergence of numerous farming protocols, each vying for a piece of the market. The high gas fees associated with joining and leaving the Ethereum blockchain pools have further hampered participation.
Thanks to GalaxyFarm, a new-generation, gas-efficient staking protocol built by Router Protocol, these yield farming constraints will be a thing of the past.
GalaxyFarm provides users with exposure to a variety of different tokens while also offering competitive APYs on a gasless Layer-2 (Polygon-based) AMM. All transactions (including pair swapping) within Dfyn AMM are gasless, with the exception of entering and exiting the network.
GalaxyFarm will be launching its second cohort of DeFi projects on April 6th on dfyn.network, which is a Router Protocol’s node on Polygon.
The cohort participants will contribute their native tokens alongside the Router Protocol native token to create a reward pool worth $330,000. Users will be able to stake their $COR and earn rewards in all of the eleven tokens in the pool.
The reward pool is set at $30,000 per protocol.
For example, users that stake $COR — Coreto’s tokens — in the GalaxyFarm pool will earn yield for all participating tokens at the same time in an equal ratio.
The GalaxyFarm 2 program will go live on April 6th and last for 30 days.
Tokens can be unstaked from the GalaxyFarm Pool at any time.
List of Participating Projects: Router Protocol, Frontier, Union Finance, Nord Finance, Glitch Finance, Stater Finance, Razor Network, MantraDAO, Rage.Fan, IGGalaxy, Coreto.io
About Router Protocol
Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
Dfyn is a layer-2 AMM DEX currently functional on the Polygon network. Dfyn acts as Router protocols liquidity node and will soon be functional on other blockchains