Partners: DeFiChain x ACryptoS
DeFiChain ($DFI) is an established blockchain platform, built with the mission of maximizing the full potential of DeFi within the Bitcoin ($BTC) ecosystem.
DeFiChain’s initial functions and products include: lending, token wrapping, pricing oracles, exchanges, asset tokenization, distribution of dividends, etc.
The project is built on Bitcoin as a software fork and is tied to the Bitcoin blockchain using a Merkle root every few blocks. DeFiChain transactions are non-Turing complete, which makes them fast and smooth, with low gas costs and a reduced risk of smart contract errors.
DeFiChain was launched in the fall of 2019. With their BSC bridge just recently deployed, they’ve opted to partner with ACryptoS to launch their first farming pool on BSC #BNBChain. Read on to understand more about the dual token farm on our DEX, Acsi.Finance!
Farm launched on 4th May ’22 0900 UTC!
Farm Launch I : Dual Token Farming $DFI + $ACSI
Acsi Finance will be launching a new DFI-BNB Liquidity Pool (LP). Read more here on the many unique points that our Next-Gen AMM offers.
$70,000 DFI+ $40,000 ACSI is allocated for the farm, and they will be distributed over a period of 90 days and 150 days respectively. Be the first in, and enjoy the $80,000 yield farming rewards!
Bonus: DeFiChain has also provided $10,000 of $DFI to be distributed to our ACS-ACSI-BNB-BUSD Onsen Pool. A2B2 Pool LP providers will now receive $DFI as well for 90 days. No action required.
(Update) Farm Launch II : Dual Token Farming $DFI + $ACSI:
With the success of the first DFI-BNB farm, DeFiChain has gone through a governance vote to extend the farming rewards with us.
Launch date: 3 Oct ’22
Rewards only in DFI-BNB farm.
Reference tweet: https://twitter.com/acryptosdao/status/1575906384717103104
How to farm the Rewards?
Two simple steps:
- Provide liquidity in the DFI-BNB Liquidity Pool on ACryptoS V2 app
(50% DFI| 50% BNB)
If you run into performance issues, you may use the Legacy site and form liquidity here to stake them in the farm here.
Users can deposit the 2 tokens in the listed proportions above, or they can deposit 1 single token (eg: DFI or BNB) and our DEX (Acsi.Finance) will take care of the rest in the background, balancing those tokens for you.
2. Stake the pool tokens received on the ACryptoS farm
After providing liquidity (investing) in the DFI-BNB LP, users will receive proof-of-stake tokens, and they will be able to stake those tokens in the DFI-BNB farm.
— That’s where you’ll earn those awesome Double Rewards (DFI + ACSI)!
On top of the farm APY, you’ll also be earning Swap APY. This comes from the swap fees of all the trades happening in the DFI-BNB pool. 😉
Scroll down for a full step-by-step guide.
Getting a 2.5X Boost on Farm APY
With our $ACSI Boost mechanics, you’ll be able to increase your APY by up to 2.5X!
- stake $ACSI in the Core governance vault here (V2 site) or here (legacy site). The more you stake in $ACSI vault, the higher you can boost your farms.
- get boosted APY from 1X > 2.5X on your DFI-BNB farm
eg. current non-boosted APY 74%
Max Boosted APY 287%
Find out more about how our Boost works here:
https://docs.acryptos.com/acryptos-farms
Full Guide — Dual Token Farming
Taking part in this new LP is a simple process:
Make sure your wallet has DFI (50%), BNB (50%) in the correct proportions (or close to it)
*Staking with just one token is possible as well, read on for more details.
- Go to app-v2.acryptos.com
- Deposit funds into the DFI-BNB LP
- Select DFI-BNB and select “Pair/Unpair DFI-BNB LP”
- Select the currency and amount to be deposited, or click “MAX” to deposit all
*You can stake a single currency, and the protocol will automatically convert the currency into the other currencies in the DFI-BNB LP.
Hint: make smaller deposits at one time if price impact is too high.
- “Approve” the transaction (the number of approvals depends on the types of currency staked)
- After clicking “Invest”, approve the transaction in your wallet to complete the deposit and get the LP tokens.
If you want to unpair the LP, click “Withdraw” to choose the withdrawal method. Click “All Tokens” to receive 2 types of equivalent currencies;
Click the different tokens to choose one of the 2 single currencies to withdraw.
3. Stake the LP to start farming
- Click “Stake”
- Click “Max” and confirm
You will start earning $DFI + $ACSI 🔥 Simple!
Quick Guide — Swapping $DFI on Acsi.Finance
Once there is sufficient liquidity in the new LP, you will be able to swap DFI on by navigating with the left side bar/menu. “Swap” -> “ACSI Finance”. You will be able to swap any cryptocurrency listed on Acsi.Finance for DFI tokens with the best swap fees and maximum returns.
- Click “ACSI Finance” on app-v2.acryptos.com
- Choose the currency and quantity you want to exchange
- Click “Preview trade” — “Confirm trade”
Buying and Bridging $DFI over to BNB Chain
Here are the official docs on how-to:
1. Buy $DFI on a supported CEX (Centralized Exchange)
or cakedefi.com gateway
https://blog.defichain.com/where-and-how-to-buy-dfi-defichain/
2. Send $DFI over to your DeFiChain wallet
https://defichain.com/learn/defi-app-how-to
3. Bridge $DFI from DeFiChain over to BNB Chain
http://defichain-bridge.com/#/welcome
That’s it!😉
About DeFiChain
A blockchain dedicated to fast, intelligent and transparent decentralized financial services, accessible by everyone. Visit https://defichain.com/ to find out more.
Twitter: https://twitter.com/defichain
Reddit: https://www.reddit.com/r/defiblockchain/
Telegram: https://t.me/defiblockchain
