rhoUSDt & rhoUSDC are now live on Avalanche Network
We are thrilled to announce that rhoUSDt & rhoUSDC have been successfully launched and are now live on the Avalanche network (AVAX).
The launch allows users to gain extra traction from traditional investors through the Avalanche ecosystem. In supporting this launch, Flurry Finance has deployed new yield farming strategies via tapping onto the farm pool of Benqi, a DeFi liquidity market pool that consists of Benqi Liquidity Market (BLM) and Benqi Liquid Staking (BLS).
It indicates that yield aggregation has started, where funds will be allocated and switched to different strategies depending on their respective APR when more strategies are being deployed. Users can now capture the best APR and earn the maximum interest in the market without the need to switch from lending pool to lending pool as Flurry Protocol (FlurryPro) does it for you without incurring gas fee to rhoToken users.
Reward tokens accumulated during the yield farming process will also be returned to users in rhoTokens via the daily rebasing feature which saves users gas fee and trouble from the token switch. In addition, FLURRY tokens will also be rewarded to rhoTokens hodlers to encourage adoption to passive yield income.
Flurry Finance is on a mission to simplify and bring DeFi to everyone. Since Avalanche has one of the largest DeFi ecosystems in the blockchain industry, it is one of the natural paths of expansion. Flurry Finance aims to make DeFi easy and accessible to anyone and anywhere.
The ultimate goal of creating rhoTokens is to normalize yield farming in the DeFi space. We want RHO to become the medium of exchange and create a belief among investors that whoever holds RHO will be able to earn extra interest in their holdings.
With the launch on Avalanche, users will have access to even more DeFi platforms and incorporate more strategies to kickstart the next stage — the cross-chain interoperability of rhoToknes.
FLURRY Reward on Avalanche
Block time on Avalanche Network is around 2 seconds on average*, hence an estimation of the total FLURRY reward distributed per week will be:
For rhoToken Hodlers by Depositing on Earn
- 2 FLURRY tokens per block will be rewarded to rhoToken holders on Avalanche by depositing on EARN
- Seconds in a day 86400 divided by 2 seconds per block = 43,200 blocks a day on average.
- 43,200 blocks multiplied by 2 $FLURRY tokens = 86,400 tokens given in a day.
- For a total of 604,800 $FLURRY tokens a week
For Staking on Snowball
- 1 FLURRY tokens per block will be accumulated on Avalanche by staking FLURRY on Snowball
- Seconds in a day 86400 divided by 2 seconds per block = 43,200 blocks a day on average.
- 43,200 blocks multiplied by 1 $FLURRY token = 43,200 tokens given in a day.
- For a total of 302,400 $FLURRY tokens will be accumulated in a week
(*The processing time for each block on the AVAX blockchain varies by a small margin. See here for your reference.)
FLURRY reward won’t be locked up anymore for rhoToken users on Avalanche (AVAX), Polygon (MATIC) or BSC network. rhoToken hodlers can repeat the above steps to compound their interest anytime they want.
Please refer to the New APR for FLURRY reward to find out the FLURRY APR on Polygon & BSC network.
How to setup Avalanche Network on Metamask for $RHO
It is easy to set up Avalanche Network on decentralized wallet Metamask.
Follow the steps in this video and fill out the associated information accordingly.
Network Name: Avalanche Network
RPC URL: https://api.avax.network/ext/bc/C/rpc
ChainID: 43114
Symbol: AVAX
Explorer: https://snowtrace.io/
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: t.me/FlurryFinance_Official
News Channel: https://t.me/FlurryFinance_News
Discord: https://discord.gg/t78aN3dmD2
Website: https://www.flurry.finance/
