Sep 20, 2021
Farming Module on EasyFi App Goes Live
Launch to coincide with 2 exclusive EZ Liquidity Pool Farming Programs with upto 75% APY
After a successful completion of the security audits of the smart contracts related to the Farming modules on EasyFi Network by our security consultants Halborn Security, we are thrilled to announce to our community that we are now ready to launch the Farming Modules on our App.
The Farming module and its sub-modules will go live today, 20th September 2021 at 2:30 pm UTC with the launch of 2 exclusive LP farming programs on the Ethereum network (Details below).
This comes after a successful completion of the audits of the staking modules (Halborn completes audit for EasyFi staking contracts) and launch of staking programs (Easyfi Mega Staking Program) in July.
The farming modules will be launched on our newly updated and rejuvenated application with an ultra smooth and resplendent UI / UX. We hope our users will love this new experience. A few snapshots have been displayed here.
Exclusive LP Farming Programs at launch
We are launching two exclusive LP token farming programs to coincide with the go-live of our Farming module. Both the programs are summarized in the table below.
1. Program 1: Stake EZ-USDC LP — Farm EZ
The program calls for users to add liquidity to the EZ — USDC pool on UniSwap V2 DEX on the Ethereum network and deposit the ensuing LP token to the relevant contract on the Farming module on the EasyFi App for 90 Days.
The total rewards allocated to this program are 5400 EZ which will provide the user an approximate APY upto 75%.
2. Program 2: Stake EZ-ETH LP — Farm EZ
The program calls for users to add liquidity to the EZ — ETH pool on UniSwap V2 DEX on the Ethereum network and deposit the ensuing LP token to the relevant contract on the Farming module on the EasyFi App for 90 Days.
The total rewards allocated to this program are 5400 EZ which will provide the user an approximate APY upto 75% at the end
Summary of Programs
Screenshot of New Farming module
With the launch of the farming module users will now get the more incentivization opportunities via the Dual Farming and Liquidity Farming (LP Farming) sub-modules on the EasyFi app.
As a reminder to all users and for those who are joining in now, please check how the Dual and Liquidity farming works.
What is Dual Farming?
Dual Farming is a staking methodology in which the user stakes one token and gets two in return. The staked token is either a partner token or EZ — the reward is two tokens viz. the partner token plus EZ, both.
E.g. Stake EZ — Farm EZ and XYZ or Stake XYZ — Farm EZ and XYZ.
What is Liquidity Farming?
Liquidity farming has two methodologies, both based on the staking of two different types of liquidity tokens.
- LP Token from DEX — A Liquidity Pool token is received when a user provides liquidity to a set of token pools on a DEX such as Uniswap QuickSwap or PancakeSwap.
The ensuing LP token received on adding that liquidity can then be deposited on the Liquidity Farming module to earn EZ or a partner token on EasyFi.
E.g. Stake EZ-ABC LP Token — Farm EZ / ABC
2. Lending Supply Tokens — EasyFi being a Lending protocol, users can deposit / supply their tokens for lending on a market and borrow against that supply.
Users get an eToken (EasyFi token) as a derivative of their token supplied for lending. This eToken can then be deposited in the Liquidity farming module for further rewards as designated.
Please note, these can be done when specific programs are enlisted for execution in this module and are not open for all assets supplied in our lending.
Stay tuned to our announcements channel on Telegram for upcoming Liquidity and Dual farming programs: https://t.me/easyfiAnn/.
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To learn more about $EZ and EasyFi, please go through our whitepaper and other articles on this publication.
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