Dfyn Network Launches Yield Farming and Incentivized Liquidity Mining On the Fantom Blockchain

Dfyn, a leading AMM (automated market maker) decentralized exchange (DEX) platform, has lived up to its multichain spirit by branching towards the Fantom Network in addition to Polygon. The platform has now launched yield farming on the Fantom blockchain alongside an incentivized liquidity program.

The special liquidity program now allows users to deposit into the liquidity pool once connected to the network. To increase investor interest and engagement, the liquidity mining program has launched with incentives amounting to 30,000 $DFYN (the native token of Dfyn). Pairs currently eligible for farming rewards are DFYN-FTM, USDC-USD, BTC-wETH, and DFYN-USDC. The platform plans to incorporate more trading pairs in the future to reach a wider audience.

Having kicked off on Oct. 26, the program will run for 30 days, after which the scheduled pairs and rewards will be relaunched. Of note, the program takes up 900,000 $DFYN tokens, which is less than 0.5% of the total supply.

To connect MetaMask wallets to Fantom, users will need to access the Chainlist and search for the Fantom Opera option. Additionally, they can bridge their $DFYN tokens from Ethereum to Fantom through Anyswap Bridge. Tokens on Polygon will have to be sent to Ethereum first through the Polygon Bridge and thereafter bridged to Fantom through Anyswap.

Established in 2021, Dfyn aims to promote cryptocurrency exchange in various ways. The platform supports lightning-speed gasless transactions across multiple chains. It also utilizes Router’s XCLP (Cross-chain Liquidity Protocol) for constant liquidity provision. Its customizable market-making toolkit is designed to do away with common issues facing AMMs.

Additionally, Dfyn is building a network of DEXs across multiple Layer-1 and Layer-2 blockchains. The platform plans to expand to Binance Smart Chain (BSC), Avalanche, Polkadot, Algorand, and more. This will give it access to multiple sources of liquidity including that provided through Router Protocol.

In Q4 of this year, Dfyn plans to launch a new user interface with a specialized dashboard for managing yield mining activities. The DEX will also extend to non-EVM chains and integrate with Router Aggregator for smart-order routing. Lastly, Dfyn will host additional prediction markets for both crypto and non-crypto categories.

Some of the investor muscles backing Dfyn are CMS, DFG, Signum, Spark Digital, Black Edge, and Zokyo Ventures to mention a few. Dfyn has also forged numerous partnerships in the crypto industry including that with Router and Polygon. Other partners are Cirus, Umbrella, Union, Biconomy, and Razor among many others.

Source: https://zycrypto.com/dfyn-network-launches-yield-farming-and-incentivized-liquidity-mining-on-the-fantom-blockchain/