Router Protocol Announces: Dfyn Network’s Launch of GalaxyFarm
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 Layer 2 Galaxy Farm. The Galaxy Farm will be hosted on Polygon based DEX — Dfyn.Network . The exciting multi-farming project is set to launch on March 9th, at 14:00 UTC.
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.
The Layer 2 Galaxy Farm will run in cohorts. A project participating in the Galaxy Farm can be a part of as many cohorts as are launched, with a fixed quote of six projects in the first cohort. Subsequent cohorts may seem larger number of projects. Router Protocol and Polygon will be participating in each cohort, leaving room for three other projects in each cohort.
The Galaxy farm will be hosted at Dfyn.Network which is a Polygon based AMM-DEX and was built by the team behind Router Protocol. Dfyn also serves as the Router’s node on the Polygon Network.
What makes Galaxy Farm different from other yield farming projects on the market is the fact that it enables users to stake a single liquidity pair while earning rewards in six different tokens at the same time. This means that, for example, a user staking ROUTE tokens in a cohort pool will be able to earn rewards in ROUTE, POLYGON, and three other tokens from the cohort participants. All of the rewards will be distributed in an equal ratio, further democratizing the farming process.
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 a LP pair on Ethereum Network costs over $500 due to large number of transactions involved. The same can be done for free on Polygon network.
The first cohort is set to launch on the 9th of March, at 14:00 UTC, with the staking period for each cohort lasting 30 days. Users are allowed to unstake their funds from the cohort at any time.
Projects participating in the cohorts will be required to seed $30,000 worth of liquidity to the rewards pool. This means that a total of $180,000 in rewards will be distributed to liquidity providers over 30 days. The projects will all be adding liquidity to Dfyn.network, a functional AMM-based decentralized exchange (DEX) based on the advanced Layer 2 scaling solution built by the Polygon Network. Dfyn.network is the first node on Router’s cross-chain liquidity protocol, on the Polygon ecosystem
The participating projects are Router Protocol, Polygon Network, Razor Network, EasyFi, and MantraDAO.
Key highlights of Galaxy Farm that are worth emphasizing
- Provide liquidity in any one DFYN AMM pool, farm 6 exciting project tokens
- No lock-in of any pooled capital, withdraw anytime
- Because Dfyn enables gasless transactions thanks to its integration with Biconomy (POST BICONOMY ROUTER MEDIUM ARTICLE LINK HERE), 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
- Potential retrospective Uniswap style airdrops of any future DEX token to all early participants! This is important given that exchange tokens have been great at capturing the value they create and transmitting them to the token holders.
- Various other airdrops and marketing campaigns that will kick off as soon as the pilot cohort is launched; We even have a few NFT drops coming up, stay tuned!
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 2 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!
Update: Due to a tech mapping issue in mapping Union to Matic, Union.Finance will not be participating in Cohort-1 but will be participating in the subsequent Cohort-2 of the GalaxyFarm.
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 Exchange: https://www.dfyn.network/
Telegram announcements: https://t.me/router_ann
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.