THE LAUNCH OF GALAXYFARM-2 BY DFYN NETWORK IS ANNOUNCED BY ROUTER PROTOCOL
Router Protocol is excited to announce that the network and other leading DeFi projects have come together to launch Dfyn Galaxy Farm, an instant, gas-free ecosystem for bets and farms. Galaxy Farm Cohort-2 is hosted on polygon-based DEX — Dfyn.Network. The exciting multi-product project starts on April 7th.
The growing popularity of productive farming over the past year has resulted in massive liquidity fragmentation in the DeFi market. With multiple Farming protocols competing for the same market share, investors who wanted to maximize their returns had to spread their funds across several different protocols and deal with rising fees.
As a liquidity bridge between chains, the router protocol believes in the ability to link multiple networks together. Therefore, we will join a huge cross-chain liquidity cultivation ecosystem that will include several leading DeFi players.
The router has partnered with Polygon, formerly known as Matic Network, to launch Layer 2 Galaxy Farm. In addition to the router, several DeFi projects from the Polygon and Ethereum ecosystems will join the farm, offering users the opportunity to participate in an entirely new cross-project farm experiment.
This is the second cohort from Galaxy Farm. The first was a huge hit, raising more than $ 2.5 million in the first hour of launch, and more than $ 150,000 in prizes were awarded to members who participated.
The Galaxy farm is hosted on Dfyn.Network, a polygon-based AMM-DEX created by the team behind the router protocol. Dfyn also acts as a router node in a polygonal network.
By introducing this to a gasless Dfyn exchange, we ensured that users do not have to deal with high ETH gas fees for liquidity trading. Currently, creating an LP pair on the Ethereum network costs more than $ 500 due to the large number of transactions. The same can be done on the polygon net for free. Dfyn’s integration with Biconomy allows users to enjoy a gas-free experience on Dfyn.
Polygon and Ethereum ecosystem projects will join GalaxyFarm to reward their community in the farming experiment between projects.
The final cohort with 5 participants totaled $ 150,000 in rewards, while the prize pool for the 11-participant cohort 2 is $ 330,000. Each participating project must contribute $ 30,000 to the prizes awarded during GalaxyFarm.
First, GalaxyFarm unlocks a $ 165,000 prize for farmers. When the farm’s TVL reaches $ 2.5 million, the remaining $ 165,000 prize will be unlocked. The purpose of this activity is to gamify the farming experience. The stakeholders are motivated to stake more and unlock and win higher APY for LP tokens.
The special thing about these farms is that users can only bet 1 pair LP at a time and receive rewards from all common tokens. For example, if there are 11 cohort participants, a user trusting ROUTE will receive ROUTE tokens and 10 other projects from cohort participants at the same time. Prizes will be given on a pro rata basis. For example, the $ 99 prize is equal to $ 9 for ROUTE and $ 9 for each participant in the group.
Highlights of Galaxy Farm that should be outlined
- Farm and have liquidity in any DFYN AMM tank. There are 11 exciting project tokens available.
- No pooled capital is locked in, and you can withdraw at any time.
- Users can quickly move between pools because Dfyn’s integration with Biconomy allows gasless transactions. More generally, arbitrage opportunities across different pairs on Dfyn, as well as those between DFYN and other Layer-2 AMMs, are easier to take advantage of.
- This is a perfect way for project owners to broaden access to their project through all participating groups and increase wallet share.
As part of our efforts to help more and more projects migrate from L2 to Polygon, we will release details on an even larger cohort of three people in the coming weeks. If you are in a project that would like to move to Layer 2 with the support of Router, Dfyn and Polygon, we would like to hear from you.
We’re excited about Layer-2, and we hope you are too!
How to Add Liquidity in Dfyn — https://youtu.be/iyAKJLs_WF8
How to earn LP at GalaxyFarm — https://www.youtube.com/watch?v=1bftVg0tJ6M
Joint projects: Union Finance, Frontier, MantraDAO, Glitch-Protokoll, Nord Finance, Razor Network, Stater Finance, Rage.Fan, IGG, Coreto and Router Protocol.
About The Router Protocol
The Router Protocol creates a set of cross-chain liquidity infrastructure principles that aim to seamlessly provide a bridging infrastructure between existing and new Tier 1 and Tier 2 blockchain solutions.