Defily Mini Farm Introduction
As a Full-Stack Cross-Chain DeFi Platform for Staking and Yield Farming, Defily is proud to release Mini Farm — the farming offering with concept of “Yield Farming as a Service”, where partner tokens (such as LTD) can be used to incentivize the liquidity of DEX pairs of partners and Defily ecosystem.
What is Yield Farming?
We got this paragraph from Binance Academy because it describes the best about Yield Farming.
“Yield farming, also referred to as liquidity mining, is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards.
In some sense, yield farming can be paralleled with staking. However, there’s a lot of complexity going on in the background. In many cases, it works with users called liquidity providers (LP) that add funds to liquidity pools.
What is a liquidity pool? It’s basically a smart contract that contains funds. In return for providing liquidity to the pool, LPs get a reward. That reward may come from fees generated by the underlying DeFi platform, or some other source.
Some liquidity pools pay their rewards in multiple tokens. Those reward tokens then may be deposited to other liquidity pools to earn rewards there, and so on. You can already see how incredibly complex strategies can emerge quite quickly. But the basic idea is that a liquidity provider deposits funds into a liquidity pool and earns rewards in return.
Yield farming is typically done using ERC-20 tokens on Ethereum, and the rewards are usually also a type of ERC-20 token. This, however, may change in the future. Why? For now, much of this activity is happening in the Ethereum ecosystem.
However, cross-chain bridges and other similar advancements may allow DeFi applications to become blockchain-agnostic in the future. This means that they could run on other blockchains that also support smart contract capabilities.
Yield farmers will typically move their funds around quite a lot between different protocols in search of high yields. As a result, DeFi platforms may also provide other economic incentives to attract more capital to their platform. Just like on centralized exchanges, liquidity tends to attract more liquidity.”
What is Mini Farm?
Yield Farming is great. However, to develop a Yield Farming system, it requires a huge resources including Develoment Team, Product Team and also Management Team to make it work like Defily or Pancakeswap.
Our goal to bring DeFi to everyone has a break through milestone as we come up with the mechanism of Mini Farm (Yield Farming as a Service). Mini Farm is similar to Defily Farm, to allow yield farmers to farm a token by providing LP to the liquidity pairs of that token on AMMs/DEX. The only difference is that the Mini Farm is a part of Defily Ecosystem, and we can activate Mini Farm on-demand for every partners in a short period of time, with limited resources.
Introducing Live Trade Mini Farm
Live Trade IFO is a huge success for Defily Ecosystem as more than 2 million DFL burned in LP to buy in IFO in less than 24 hours.
We worked hard with Live Trade team to develop the first Mini Farm on Defily Ecosystem, where you can deposit tokens (or LP tokens) to earn LTD, rewards paid by block.
Farm Stats of Live Trade Mini Farm
- LTD Rewards per block: 5 LTD (86,400 LTD per day)
- Start Block: 3,059,059
- Initial Mini Farms: Stake LTD-KAI, earn LTD (40X) (main pool)
- Other Farms:
- Stake KUSD — VNDC, earn LTD (5x) (later)
- Stake VIDB-KUSD, earn LTD (1X) (later)
- Stake KAI- KUSD, earn LTD (1x) (later)
- Stake DFL-KUSD, earn LTD (1x) (later)
We look forward to more projects to join in Defily Mini Farm.
