Pangolin DEX Launches Superfarms, Offering Permissionless Multi-Reward Pools for Farmers
Frankfurt, Germany, 10th February, 2022,
The Pangolin decentralized exchange, the platform for swapping assets on Avalanche, released its anticipated Superfarms feature to turbocharge liquidity mining on its pools with the ability to receive rewards in multiple assets for a single farm.
Previous Pangolin farms have only allowed rewards in $PNG tokens, which meant that projects wishing to gain traction via Pangolin farmers needed to get approval from the community to receive liquidity mining rewards on their pools. While some other projects did allow additional reward tokens on some pools, Superfarms have been widely underutilized.
Superfarms bring an innovative spin on liquidity mining by allowing anyone to supply tokens to any pool. This means that projects can simply allocate a portion of their tokens to any pool, for example AVAX/USDC, and gain exposure for their project. Farmers in these common pools will automatically obtain the new project’s tokens, incentivizing them to learn more about it and earning additional rewards.
“Super farms are going to explode TVL and volume by compounding the ecosystem’s incentive program with the full strength of all of Pangolin’s partners,” said Stephen, Pangolin Head of Strategy.
The Superfarms concept comes amid a wave of liquidity mining innovation spearheaded by Curve and its concept of gauge bribes. There, projects wishing to obtain liquidity on their pools will use their tokens to incentivize more CRV rewards to their pools, thus giving their tokens to the veCRV community. However, veCRV holders are a comparatively limited audience in the big picture of Curve liquidity providers. By generalizing the “bribe” model to any pool, Pangolin lets projects target the entire community of Pangolin users, in addition to letting them incentivize liquidity on their own pools directly. Coupled with $PNG rewards, projects can obtain significant liquidity and interest by working with Pangolin.
Pangolin’s inaugural Superfarms program launched with 5 partner projects who will offer their tokens to Pangolin users. There are no specific limits to how many tokens a pool can receive, so users can farm as many as 10 different tokens by staking once. This will also drive further liquidity and equity for the Pangolin platform and ultimately benefit the PNG community.
Superfarms was inaugurated by the ChiknNFT project, offering its $FEED token in addition to $PNG rewards. Additional launch pad partners include other major projects: Police & Thief NFT game, Dragon Crypto Gaming, MetaBrands, Pollen DeFi, X DAO and Angle Protocol.
“We’re excited to continue working with the top, most innovative projects on Avalanche. It’s exactly the kind of community-led growth that makes Pangolin and its partners stronger,” said Firat Akkan, Pangolin Head of Business Development.
Pangolin continues to work with new partners on Superfarms, helping strengthen respective utilization and ecosystems. Interested partners should connect directly with Firat Akkan, Pangolin Head of Business Development.
Pangolin is a community-driven decentralized exchange for Avalanche and Ethereum assets with fast settlement, low transaction fees, and a democratic distribution–powered by Avalanche. Pangolin brings you the best trading opportunities to find and maximize your yield. For more information, visit https://pangolin.exchange.
Head of Business Development
- Firat Akkan