External Farming with LaCucina
The brilliance of LaCucina’s innovative External Farming mechanics cannot be overstated. Let us dive right in and have a good look at External Farming, how it will work and ultimately why you should take notice.
What is External Farming?
External Farming is when you provide liquidity at popular decentralized exchanges, staking your liquidity provider tokens inside their farms, and then collecting your rewards at LaCucina. You see, there is no staking at LaCucina and no need to move your original staking positions either, LaCucina provides an additional layer of rewards for your existing liquidity.
Users at LaCucina have the freedom to farm anywhere they want and when they come to LaCucina they earn additional rewards. No extra steps needed, no moving your original staked positions, just you, receiving additional benefits for your liquidity provisions.
Earn additional rewards for your liquidity
When we say additional, we mean it.
You would think earning additional rewards, would require a lot of additional steps, right?
Wrong! Not with LaCucina.
In fact, if you have provided liquidity, there is a particularly good chance you have earned yourself some rewards already… All you need to do is to connect your MetaMask wallet to LaCucina and Munch your rewards, that’s it!
Oh, and did we mention you can boost these additional benefits even further?
Think about it.
You provided liquidity for a pair on a decentralized exchange, let us say CAKE//BNB (Pancake Swap Token & Binance token) for the sake of the example.
Reward Layer 1 -SWAP FEES
When you provide liquidity on a decentralized exchange (Dex) or automated market maker (AMM) you earn swap fees from traders.
Reward Layer 2 — Farms
Most of todays farms will allow you to stake your liquidity provider token and earn rewards in their native token, like Cake, UNI and SUSHI(Pancake Swap, UniSwap and SushiSwap respectively).
Reward Layer 3 — LaCucina
By staking your token at the external farm, you may be eligible for the rewards based on our Ovens.
What matters, is that you connect your MetaMask wallet to LaCucina and claim your rewards. The only requirement is that you provide liquidity to a liquidity pool we promote on a farm we support, and we are monitoring. The number of projects and farms we support will continually grow, and there are several to choose from and they are constantly being updated with new additions.
At LaCucina, the rewards are not simply allocated among users according to the size of their liquidity. Remember that we want to give everyone a chance to earn, not only the big fish
How can we do that?
With our Ovens and Cooking Plans of course! You see, at LaCucina, every Oven in LaCucina will come with its own selection of Cooking Plans. Cooking Plans add a second level of flexibility to our reward systems, allowing us to tailor a specific reward policy, per liquidity pool.
For now, you will have to look out for our next post, which will be looking more into our Ovens and their Cooking Plans, having a more in-depth look, whilst revealing some more tantalizing features of LaCucina. So, stay tuned and do not miss out!!!