Router Protocol Announces: Dfyn Network’s Launch of GalaxyFarm-2
We are pleased to announce that Router Protocol and other leading DeFi projects are coming together to launch an instant, gasless, staking, and farming ecosystem — the Dfyn Galaxy Farm. The Galaxy Farm Cohort-2 will be hosted on Polygon-based DEX — Dfyn.Network. The exciting multi-farming project is set to launch on April 7th.
The rise in popularity yield farming has seen in the past year has led to a massive liquidity fragmentation across the DeFi market. With multiple farming protocols competing for the same slice of the market, investors looking to maximize their yields were forced to spread their funds across multiple different protocols and deal with the growing fees.
As a cross-chain liquidity bridge, Router Protocol believes in the power of connecting various networks. This is why we will be participating in a massive, cross-chain liquidity farming ecosystem involving a number of leading DeFi players.
Router has partnered with Polygon, formerly known as the Matic Network, to launch the Layer 2 Galaxy Farm. Aside from Router, various DeFi projects from the Polygon and Ethereum ecosystems will be participating in the farm, offering users the opportunity to participate in a completely new cross-project farming experiment.
This is the second cohort of the Galaxy Farm. The first one was a huge success which saw over $2.5 million in TVL in the first hour of launch and rewards over $150,000 were given to participating members.
By launching it on a gasless Dfyn exchange, we have ensured that users don’t have to deal with high ETH gas fees for liquidity operations. Currently farming an LP pair on Ethereum Network costs over $500 due to a large number of transactions involved. The same can be done for free on Polygon network. Dfyn’s integration with Biconomy ensures that users have a gasless experience on Dfyn.
Projects from the Polygon and Ethereum ecosystem will be participating in GalaxyFarm to reward their communities in the cross-project farming experiment.
While the last cohort had $150,000 in total rewards with 5 participants, the Cohort-2 reward pool will be $330,000 with 11 participants. Each participant project will have to contribute $30,000 for rewards to be given out during GalaxyFarm.
Initially rewards worth $165,000 will be unlocked for the farmers of the GalaxyFarm and once the TVL of the farm hits $2.5 Million, the remaining $165,000 in rewards will be unlocked. The purpose of this activity is to gamify the farming experience. Stakers are motivated to stake more and unlock and earn higher APYs for their LP tokens.
The special thing about these farms is that users will be able to stake just 1 LP pair and earn rewards of all partner tokens at the same time. For example, if there are 11 cohort participants — a user staking ROUTE will earn tokens of ROUTE and 10 other cohort participant projects at the same time. The rewards will be distributed in an equal ratio. For example, 99$ rewards will mean 9$ of ROUTE and 9$ for each cohort participant.
Key highlights of Galaxy Farm that are worth emphasizing
- Provide liquidity in any one DFYN AMM pool, farm 11 exciting project tokens
- No lock-in of any pooled capital, withdraw anytime
- Because Dfyn enables gasless transactions thanks to its integration with Biconomy, users can easily switch between pools. More broadly it is easier to take advantage of arbitrage opportunities across various pairs on Dfyn as well as those opportunities that exist between DFYN and other Layer-2 AMMs.
- For project owners, this is a great way to multiply access across all participating communities for your project and get wallet share widely expanded
As part of our efforts to help more and more projects migrate to L2 on Polygon, we will be announcing details of an even larger cohort 3 in the coming weeks. If you are a project that wants to get on to Layer 2 with support from Router, Dfyn, and Polygon, we would love to hear from you.
We are excited about Layer-2, and we hope you are too!
How to Add liquidity on Dfyn — https://youtu.be/iyAKJLs_WF8
How to stake LP in GalaxyFarm — https://www.youtube.com/watch?v=1bftVg0tJ6M
Partner Projects: Union Finance, Frontier, MantraDAO, Glitch Protocol, Nord Finance, Razor Network, Stater Finance, Rage.Fan, IGG, Coreto and Router Protocol.
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.
GalaxyFarm URL : https://galaxyfarm.routerprotocol.com/
Dfyn is a layer-2 AMM DEX currently functional on the Polygon network. Dfyn acts as a Router protocol’s liquidity node and will soon be functional on other blockchains
Dfyn Website: https://www.dfyn.network/
Previously known as the Matic Network, Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is the Polygon SDK, a modular, flexible framework that supports building and connecting secured chains such as Plasma, Optimistic Rollups, zkRollups, and Validium, as well as standalone chains like the Matic PoS/Plasma, designed for flexibility and independence. Polygon’s Layer 2 POS/Plasma sidechains have seen widespread adoption with 90+ Dapps, ~7M transactions, and ~200K unique users.