EasyFi Network, the universal layer 2 DeFi lending protocol known for scalability, composability and adoption has announced the launch of its high yield farming program. Launched in association with QuickSwap, this one-of-a-kind LP farming and staking program went live on August 4, 2021.
The collaboration between EasyFi Network and QuickSwap has enabled the introduction of two programs where EZ token holders can create liquidity pools with USDC and QUICK tokens on Polygon Network’s QuickSwap Exchange. They can then use the LP tokens to farm QUICK tokens. Meanwhile, the partnership also enables dQUICK holders to stake their tokens on the new EasyFi staking app and earn EZ tokens at around 50% APR.
EasyFi Network has published detailed instructions for users to participate in high yield LP token farming on QuickSwap Exchange. To begin yield farming, users will have to add liquidity into $EZ-$USDC and/or $EZ-QUICK pools on QuickSwap and receive the corresponding EZ-USDC and/or EZ-QUICK LP tokens. These LP tokens thus received has to be staked on the QuickSwap Rewards Module to start QUICK farming. In order to avail benefits of the high yield farming, users will have to stake LP tokens for a duration of 45 days.
While the QuickSwap ecosystem plays host to the high yield farming program, enabling users to earn QUICK tokens, EasyFi will be including support for dQUICK staking on its new app. dQUICK, short for “Dragon’s Quick” is the asset one receives after depositing QUICK into the staking contract on QuickSwap. By staking dQUICK on EasyFi App, token holders will be able to farm EZ tokens. Similar to high yield LP token farming program, the staking duration on EasyFi is also set at 45 days.
Both yield farming programs are set to end on September 7, 2021.
The launch of the yield farming program closely follows another significant development in the EasyFi ecosystem. The EasyFi Farming Module passed a stringent security audit conducted by Halborn Security and was included in the EasyFi App. In the coming days, the entire EasyFi protocol will be audited to ensure no shortcomings in its infrastructure.
Learn more about EasyFi high yield farming program at – https://medium.com/easify-network/easyfi-launches-high-yield-farming-programs-in-collaboration-with-quickswap-8dc4c2626720
This post was originally published on www.newsbtc.com