Router Protocol partners with Polygon to Launch L2 Galaxy Farm
We at Router Protocol are excited to announce that we will be teaming up with Polygon and other leading crypto projects to enable instant, gasless staking, and farming for the decentralized finance ecosystem — the Layer 2 Galaxy Farm. Various projects from the Polygon (previously Matic) and Ethereum ecosystems will be participating in the Galaxy Farm to offer their users an exciting opportunity to the new cross-project farming experiment.
Polygon, formerly known as the Matic Network, has gone all-in on deploying an Ethereum Layer2 scaling solution using the hybrid POS/ Plasma framework. Going forward, in addition to POS/Plasma, Polygon will also support multiple Layer 2 solutions, including Optimistic Rollups (OR), zkRollups (ZKR), and Validium. The approach, Polygon co-founder Sandeep Nailwal said, makes Polygon more of a Layer 2 aggregator.
The first node on Router’s cross-chain liquidity protocol will be the Dfyn.network, a functional AMM-based decentralized exchange launched on Polygon. To participate in yield farming on the Layer 2 Galaxy Farm, projects and participants will have to add liquidity to Dfyn.
Galaxy Farm will run in cohorts, with a minimum of three cohorts set to launch. A project participating in the Galaxy Farm can be a part of as many cohorts as are launched, with a fixed quote of five projects in each cohort. Router Protocol and Polygon will be participating in each cohort, leaving room for three projects in each cohort.
What makes Galaxy Farm unique is that it enables users to stake only one liquidity pair and earn rewards in five different tokens at the same time. In practice, this means that a user staking ROUTE tokens will be able to earn rewards in ROUTE, MATIC, and three other cohort participant tokens, with the rewards distributed in an equal ratio. The staking period will last 30 days, with users allowed to unstake their funds at any time.
Projects that want to participate in the cohorts will be required to seed liquidity of at least $50,000 for the duration of the staking period. The liquidity will need to be distributed in the AMM pool of their token with USDT pair seeded on Dfyn. Every participating project will be required to distribute rewards of $30,000, with the token disbursement scheduled to happen by the 28th of February.
The first cohort is scheduled to launch at the beginning of March, with the launch date on the 9th of March.
Note : The launch date was updated in article from 5th to 9th March.
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.
Website: http://routerprotocol.com/
Telegram: https://t.me/routerprotocol
Telegram announcements: https://t.me/router_ann
Twitter: https://twitter.com/routerprotocol
Linkedin: https://www.linkedin.com/company/router-protocol
About Polygon
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.
Website: https://polygon.technology/
Twitter: https://twitter.com/0xPolygon
Reddit: https://www.reddit.com/r/maticnetwork/
Telegram: https://t.me/maticnetwork
