We are pleased to announce that Nord Finance will be collaborating with GalaxyFarm-2, a new staking product developed by Router Protocol, to enable liquidity providers of Nord Finance to farm multiple tokens in the GalaxyFarm — 2 pool. GalaxyFarm-1 has had a very successful launch. More than $2.5Mln TVL was reached in just a few hours of the launch.
Yield farming has taken over the crypto industry by storm, becoming one of the most popular ways to earn returns on crypto investments in 2020. However, the huge rise in popularity of yield farming led to the creation of numerous farming protocols, each one competing for the same slice of the market. High gas fees involved in entering and exiting the pools on the Ethereum blockchain have further negatively impacted participation.
These constraints on yield farming will become a thing of the past thanks to GalaxyFarm, a new-generation, gas-efficient staking protocol developed by Router Protocol.
GalaxyFarm offers users exposure to a multitude of different tokens, providing competitive APYs on a Layer-2 (Polygon based) AMM which is gasless in nature. Ethereum fees are only involved in entering and exiting the network, all transactions (including pair swapping) inside Dfyn AMM are gasless.
GalaxyFarm will be launching its second cohort of DeFi projects on April 6th on dfyn.network which is a Router Protocol’s node on Polygon.
The cohort participants will contribute their native tokens alongside the Router Protocol native token to create a reward pool worth $300,000. Users will be able to stake their $NORD and earn rewards in all of the eleven tokens in the pool.
The reward pool is set at $30,000 per protocol.
For example, users that stake $NORD. Fan’s tokens in the GalaxyFarm pool will earn yield for all participating tokens at the same time in equal ratio.
The GalaxyFarm 2 will go live on April 6th and last for 30 days.
Tokens can be unstaked from the GalaxyFarm Pool at any time.
List of Participating Projects : Router Protocol, Frontier, Union Finance, Nord Finance, Glitch Finance, Stater Finance, Razor Network, MantraDAO, Rage.Fan, IGGalaxy, Coreto
About Router Protocol
Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
Telegram announcements: https://t.me/router_ann
Dfyn is a layer-2 AMM DEX currently functional on the Polygon network. Dfyn acts as Router protocols liquidity node and will soon be functional on other blockchains
About Nord Finance
Nord Finance, a blockchain agnostic platform, is an advanced decentralized financial ecosystem that focuses on simplifying decentralized finance products for users by highlighting traditional finance’s key attributes. Deployed on the Ethereum Network, it integrates multi-chain interoperability, thus proposing a plethora of financial primitives, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.
At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem to serve the rising needs targeting novice users and professionals to meet their financial goals.