The need for a more transparent and open financial system has been the key to the growth of decentralized finance. Yield Farming is the hottest trend in the DeFi world as users are able to share in the upside of a protocol’s growth and get rewards from it.
Rigel Protocol has just launched its Yield Farming DApp V2 and there’s no slowing down on its plans to deliver a much better user experience, more security and contract stability to this space.
What is Yield Farming?
Yield Farming or yield or liquidity harvesting is a process that allows cryptocurrency holders to lock up their holdings, which in turn provides them with rewards.
That is, Yield Farming lets investors supply liquidity on the farming platforms to provide lending and borrowing services at certain interest rate. In return, these platforms reward the investors with high interest rates while also giving them a share of the platform native token, proportional to their amount supplied to the farming pools. Often, investors receive as well a percentage of the fees from all the transactions within the platform.
Why RigelProtocol Yield Farming Stands out
Apart from earning a percentage of fees (interest) from this platform, liquidity providers will also receive rewards paid in $RGP, the native token of the Rigel Protocol platform. This is subject to very attractive APY (Annual Percentage Yield) and inflation rate. Fees earned from the transactions will go directly into the liquidity pool, so the tokens will appreciate directly with the growth of the liquidity pool.
Also a percentage of the accruals from all DApps, games and other features developed by Rigel Protocol will be distributed among liquidity providers according to the amount of funds supplied to the platform. Liquidity providers will have a share of Rigel Protocol earnings as long as they keep their token locked on any of the pools provided.
Rigel Protocol is a DeFi platform powered by the community and that is why liquidity providers will be granted special voting rights so far their liquidity is locked on the platform, this will also be proportional to the amount of funds provided.
Pool participants will be able to harvest tokens manually anytime or activate automatic weekly harvest by turning on the auto haverst functionality.
https://smartswap.rigelprotocol.com/farming-v2
The newest version of the Yield Farming DApp has just been launched with high APY as promised. New farms like AXS/RGP and AXS/BUSD has been added to the newest version.
DApp V1 liquidity providers will have till the end of this week to migrate their liquidity to the new version. All you need do is unstake your tokens from V1 and restake them on the farming V2 DApp.
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Email: support@rigelprotocol.com
