Harvest Finance x Orbit Chain Partnership
Dear Orbit chain community members,
Today, we are pleased to announce a new partnership with Harvest Finance! Harvest Finance is an automated yield farming protocol on Ethereum that moves funds around the decentralized finance ecosystem on behalf of users to earn high-interest rates.
This partnership will entail listing the ETH-ORC LP vault on Ethereum based Harvest Finance. With a newly created ETH — ORC pair liquidity pool on Uniswap V3, Harvest Finance will launch ETH — ORC LP Vault along with the ORC airdrop starting on Feb 2, 2022. The amount that will be used for the airdrop comes from the allocation for the purpose of DeFi liquidity fund of ORC inflation (Details of the ORC inflation setting).
Harvest Finance: https://harvest.finance
Uniswap ETH-ORC LP: https://info.uniswap.org/#/pools/0xd43b29aaf8ad938cff4f478a0756defffb329d07
ORC smart-contract address: https://etherscan.io/token/0x662b67d00a13faf93254714dd601f5ed49ef2f51
The Orbit team is now preparing the launch of Orbit Farm on Ethereum. Orbit Bridge’s Ethereum Vault contract currently has $500M worth of assets that can be used for Orbit Farm on Ethereum by collaborating with other DeFi protocols as it is on BSC. The team believes it contributes to the Ethereum liquidity environment.
Orbit Farm is a new yield farming feature of Orbit Bridge, which simply utilizes the existing locked-up assets on the Orbit Bridge protocol. It has been implemented on BSC by depositing the locked assets in BSC-based lending protocols, while Orbit Bridge supports the free movement of assets between different blockchain ecosystems. And this is how it works — once Orbit Bridge users make the transaction, deposited assets stored in Layer 1 Vault will be automatically used on yield farming protocols and its earned profits will be used 100% on ORC buyback.
We expect this partnership will provide an explosive new influx of new users and liquidity inflow to the Orbit Chain ecosystem, and also inform the Orbit chain and its ecosystem to the Ethereum DeFi users. Starting with Harvest Finance, the Orbit chain team will acquire close partnerships with various DeFi protocols to create ORC token utility value on the mainnets that we’ve connected.
[About Harvest Finance]
Harvest is an asset management platform that maximizes yield for assets deposited by users. Harvest reduces gas costs and develops cutting-edge strategies to become the stop-shop of yield farming in DeFi.
How to use Harvest: https://harvest-finance.gitbook.io/harvest-finance/general-info/how-to-use-1