❄️RhoTokens soon-to-be-launched on Avalanche🔺
Flurry Finance is excited to announce that rhoTokens will soon be launched on one of the fastest-growing blockchain networks in the industry Avalanche.
Yield Farming has always been a substantial growth motorist in the DeFi space. TVL in DeFi expanded from $15 billion in 2020 to around $240 billion in 2021, surging a 1600% increase, notably due to the thriving establishment of new blockchain networks, as well as the expansion of the DeFi market.
With that in sight, we are pleased to announce that the yield farming feature for rhoTokens will be available on the AVAX network on 24th May 2022. Furthermore, new yield farming strategies will be deployed on Benqi lending pool.
This launch on Avalanche (AVAX) will allow Flurry Finance to cater to a much larger audience looking for stable returns with diversified risks. Flurry Finance is constantly working on tapping into different strategies to expand the use-case of rhoTokens and provide users with multiple options to benefit from.
With the innovative rhoTokens, Flurry Finance will open up multiple avenues of passive income for yield farmers across the industry. The rhoTokens are designed to earn interest through yield farming; but, most of the stable yield farming solutions provide monthly or yearly payouts, which can be daunting for many new investors. RHO’s rebasing mechanism will benefit users daily from the yield aggregated. This means that any hodlers looking for a stable ROI will be able to see the returns instantly in their wallet every day.
Furthermore, it is evident that swapping yields on a regular basis can be very costly because of the network’s heavy gas fees. Flurry Finance is already aware of all these pain points, and to fix this problem, the team has deployed a solution. Now, the reward tokens accumulated from the strategies will also be automatically rebased in rhoTokens. This will save users from incurring extra gas fees and save their time and increase their overall ROI.
The upcoming launch on Avalanche marks the 3rd network roll-out of rhoTokens since its first Mainnet launch in October 2021. Flurry Finance is one step closer in activating the cross-chain yield aggregation and becoming one of the top contenders in the decentralized finance ecosystem, chanting #DeFi4all.
About Avalanche
Avalanche is the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality, and has the most validators securing its activity of any proof-of-stake protocol. Avalanche is blazingly fast, low cost, and green. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. Don’t believe it? Try Avalanche today.
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About Flurry Finance
FLURRY is a DeFi protocol offering yield aggregation with rhoToken, which is pegged 1:1 to its underlying stablecoins. It automatically farms for yields without locking up funds or interest earned by diversifying DeFi product risk, resulting in lower gas fees.
We automate the tedious task of locking/unlocking and switching in and out of DeFi products on different chains to generate yield. Current yield aggregators are limited to Ethereum based products or work on a single chain, whereas FLURRY aims to work cross-chain to look for the best yield after cost on different chains.
Twitter: https://twitter.com/FlurryFi
Telegram: http://t.me/FlurryFinance_Official
News Channel: https://t.me/FlurryFinance_News
Website: https://www.flurry.finance/
