Dual-Farms : The Next-Generation Yield Farming on CroxSwap
We have introduced an innovative Next-Generation Staking & Farming, which includes Dual-Farms and Single token staking pools. Our introductory pools launched with whopping reward distribution from 5 partners. It was an overwhelming response from the community and we acquired quite a few new investors and liquidity providers with this new product.
How Dual-Farms or Next-Gen pools help others?
CroxSwap is trying to solve the missing piece of the puzzle in DeFi by providing an opportunity for other projects to create their own liquidity LP farm using our platform with no extra cost. At the same time we are bringing projects together onto one platform where investors from multiple projects get a chance to network with others and learn about new products that are listed on our platform. Cross-Platform networking helps in acquiring new investors for the project wherein investors are able to find new gems that they were unaware of. We provide full marketing support to partners on our social platforms along with 24x7 support over telegram and email.
Partnered Project Owners are free to discuss their protocol and use-cases in our social discussion groups.
What is Dual-Farming?
Dual-Farms are designed to provide 2 tokens as rewards to the liquidity providers. As we all know liquidity is very important for any token to make it tradable on a decentralized exchange. Many small projects struggle to attract investors to provide liquidity because it involves impermanent loss. To counter this problem we need to provide something more beneficial that can help recover the impermanent loss in the form of rewards. So, we introduced dual reward model where we incentivize LP staking pools with 2 tokens from staking 1 LP.
Rewards are flexible. Project owners can choose any reward of their choice to fund the farm contract and our protocol delivers it to the stakers as per block distribution based on their staked LP weightage.
We have a real time example from one of our partners - Centric. Centric has 2 tokens, CentricSwap (CNS) & CentricRise (CNR). Dual-farm was created for CNS-BNB Cake LP pair but the rewards are provided in CNR + CROX. This is the flexibility that we offer to any project where they can choose any reward that they are willing to give to the LP Providers. Some projects prefer to provide stable coins like BUSD,USDT or USDC as rewards so that they don’t have to worry about the native token dump and achieve liquidity without any hassle.
Locked Staking is a Commitment
These pools are designed with a 30 day minimum staking period. LPs are locked in the pool which means users are committed to provide liquidity for at least 30 days. However, they are soft locks. Users can withdraw their LP tokens anytime they want to exit the pool but there will be a penalty of 10% for early withdrawals. We have decided to have a 10% early withdrawal fee because we did not want to apply a hard lock on users LPs. At the same time we want to keep them for longer periods. So, having an early withdrawal fee helps in acquiring long term LP Providers.
LP Providers who deposited their stake can claim their rewards once a week from the pool. Harvest locks are applied to all dual-farms with a 7 day minimum locking period. If users don’t want to claim, they are free to keep them in the pool and claim it all at the end of the pool. Harvest locks are designed to control daily dumps and bot harvests.
In Next-Gen pools, projects have a flexibility to launch their single token reward pool along with a reward pool for CROX holders. In these pools, you can stake CROX and earn other tokens. Our protocol also allows projects to open a pool for their single token like, Stake XYZ & Earn XYZ or Stake XYZ/BNB & Earn XYZ. Our ultimate goal is to provide a platform for DeFi projects to gain liquidity for their protocol.
How to apply?
Currently, you can apply through the website where you can submit a staking application form using “Create a farm for your token” option or you can email your requirements to firstname.lastname@example.org. Our team will review your project needs and launch a pool for you. Right now pool creation and deployment is done by CroxSwap team. Project owners need to fund the contract with rewards once the pool is deployed. After the rewards are loaded to the contract, the pool will be released to the public for staking. In future, we will have a UI for projects to deploy & manage farms directly without the help of CroxSwap team.
Disclaimer: All partnered projects are individual entities and no way related to CroxSwap. Please DO YOUR OWN RESEARCH before you invest into any project listed on our platform
Yield Farming: https://app.croxswap.com
Next-Gen Pools : https://app.croxswap.com/pools/nextgen