The launch is timed to coincide with the launch of two special EZ Liquidity Pool Farming Programs that pay up to 75% APY.
EasyFi is happy to inform the community that they have now published the Farming Modules on the EasyFi App, after the successful completion of the security audits of the smart contracts linked to the Farming modules on EasyFi Network by the security experts Halborn Security.
With the introduction of two unique LP farming projects on the Ethereum network, the Farming module and its sub-modules went live on September 20th, 2021 at 2:30 pm UTC.
The farming modules will be available on the newly renovated and revitalized app, which features an ultra-smooth and vibrant UI/UX. Here are a few examples of snapshots.
At the start, there is Exclusive LP farming programs available.
To conjunction with the introduction of the EasyFi Farming module, there are two unique LP token farming initiatives. In the table below, both programs are summarized.
- Program 1: Stake EZ-USDC LP — Farm EZ: Users must deposit the LP token to the applicable contract on the Farming module of the EasyFi App for 90 days after adding liquidity to the EZ — USDC pool on UniSwap V2 DEX on the Ethereum network. The total incentives provided to this program are 5400 EZ, providing the participant with an anticipated APY of up to 75%.
- Program 2: Stake EZ-ETH LP — Farm EZ: Users must deposit the LP token to the applicable contract on the Farming module of the EasyFi App for 90 days after adding liquidity to the EZ — ETH pool on UniSwap V2 DEX on the Ethereum network. The total incentives allotted to this program are 5400 EZ, providing the customer with an anticipated APY of up to 75% at the end.
Summary of Programs
Screenshot of New Farming module
Users will now have more incentivization options through the Dual Farming and Liquidity Farming (LP Farming) sub-modules on the EasyFi app, thanks to the launch of the farming module.
As a reminder to all users, especially newcomers, please get used to the Dual and Liquidity farming systems.
What is DUAL FARMING?
Dual Farming is a form of staking in which a user invests one token and receives two in return. The staked token is either a partner token or an EZ token, and the payout is two tokens, namely the partner token and both EZ tokens.
E.g. Stake EZ — Farm EZ and XYZ or Stake XYZ — Farm EZ and XYZ.
What is LIQUIDITY FARMING?
Both techniques for liquidity farming are based on the staking of two separate types of liquidity tokens.
1. LP Token from DEX: When a user offers liquidity to a group of token pools on a DEX like Uniswap QuickSwap or PancakeSwap, they earn a Liquidity Pool token. The LP token earned as a result of adding that liquidity may then be placed into EasyFi’s Liquidity Farming module to earn EZ or a partner token.
2. Lending Supply Tokens: Users can deposit/provide their tokens for lending on a market and borrow against that supply since EasyFi is a lending protocol. As a derivative of their token given for lending, users receive an eToken (EasyFi token). This eToken may then be used in the Liquidity farming module to earn further prizes.
About EasyFi Network
EasyFi is scalability, composability, and adoption-focused universal layer 2 lending protocol designed for DeFi. It was created as an open and inclusive financial network architecture that runs on public networks and allows for end-to-end lending and borrowing of digital assets and related financial products. EasyFi is based on the principles of permissionless networks and smart contract automation.