Avalanche is a high throughput smart contract blockchain platform. Validators secure the network through a proof-of-stake consensus protocol. It is said to be fast, low cost, and environmental friendly.
The decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. introduced “Super Farms,” a performance farming program that allows its users to earn up to 10 tokens simultaneously.
Pangolin the decentralized exchange (DEX) based on the blockchain. Avalanche has just announced a new yield-enhancing agriculture program, or yield farming which seeks to revolutionize decentralized finance (DeFi).
The protocol the set of rules that define interactions on a network, usually involving consensus, transaction validation, and network participation on a blockchain. presented the new program “ Super Farms “through a publication on his official blog which was shared on his Twitter account. According to Pangolin the product will allow users to earn rewards on up to ten tokens simultaneously for providing liquidity to the protocol. Pangolin described it as the liquidity injection programme “. newest “of the market.
Announcing #PangolinDEX Super Farms, the ultimate liquidity bootstrapping program ???????????? (1/2)!
At 9pm UTC today Super Farms launch with multi-token token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. farming rewards from some of the hottest upcoming #AVAX projects.
Read more here: https://t.co/DBje0qUyRo
— Pangolin ???? (@pangolindex) January 19, 2022
It is worth noting that yield farming Also called yield farming or liquidity mining, it is a way to generate profitability by holding cryptocurrencies within DeFi protocols. Simply put, it means locking cryptocurrencies for profit. This is a function of lending funds to other users and/or providing liquidity to a protocol.
7 DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. projects join ‘SuperFarms’.
Pangolin indicated that the launch of its new “Super Farm” program comes in response to the “ overwhelming demand for liquidity how easily a cryptocurrency can be bought and sold without impacting the overall market price. mining a process where blocks are added to a blockchain, verifying transactions. It is also the process through which new bitcoin or some altcoins are created. incentives “. As such, the model will allow so-called yield farmers to earn PNG, the native cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. of Pangolin and others tokens simultaneously by blocking their assets.
We design the programa Pangolin Super Farm to accommodate incentive farms with a wide range of reward tokens. So keep an eye out for some Pangolin Super Farms that pay out 2, maybe 4 or even 10 different reward tokens at the same time!
The decentralized exchange reported that it has partnered with seven other projects in the DeFi space to carry out the innovative program. Among them: the platform a place to buy, sell and store cryptocurrency Chikn metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users. DAO, MetaBrands and video games,Police & Thief y Dragon. The partnership will allow users to gain tokens of these protocols by participating in the performance program. Pangolin .
In his statement, Pangolin stressed that “ SuperFarms ” will help increase the total locked value (TVL) of the protocol. He also said he hopes to revolutionize DeFi with a program that rewards its users in multiple cryptocurrencies at the same time.
SuperFarms will exploit the TVL and volume how much cryptocurrency has been traded over a set period, such as the past 24 hours. by combining the ecosystem incentive program with the full strength of all Pangolin partners.
Pangolin opens place in Avalanche DeFi
Pangolin invited the community to learn more about their new initiative at a Q&A event with the team from Chikn . The AMA day will be held on Twitter this Wednesday at 4 pm EST.
The latest announcement of Pangolin comes at a time of growth for the exchange, which is seeking to position itself as one of the main DeFi projects of Avalanche . Last year, the protocol had announced an alliance with the BENQI platform, and subsequently a partnership with Marginswap which turned Pangolin in the first DEX (decentralized exchange)A peer-to-peer exchange allowing users to trade cryptocurrency without the need for an intermediary. to offer leveraged trading on Avalanche .
By the time of editing, Pangolin records an LTV of USD $222 million and ranks among the top fifteen DeFi protocols on the network a network refers to all nodes in the operation of a blockchain at any given moment in time. Avalanche . The largest platforms in the space today, in terms of LTV volume, are Aave which is also based on Ethereum a decentralized open-source blockchain with smart contracts functionality. and Polygon and BENQI, with more than USD $3.5 billion in combined LTV.
The news also comes at a flourishing time for DeFi’s DeFi space of Avalanche . According to data from DeFiLlama The combined TVL between DeFi protocols based on the blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. currently exceeds USD $10 billion.
- Particle’ platform, based on Avalanche, auctions off iconic Banksy artwork in NFT non-fungible tokens (NFTs) are cryptocurrencies that do not possess the property of fungibility. fractions
- Avalanche makes room! Exchange Kraken and BitGo escrow a financial instrument where assets or cash are held by a third party while a buyer and a seller complete a deal. service add support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for the AVAX token
- Avalanche integrates USDC stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. in a further boost for DeFi
Article by Hannah Estefania Perez / DiarioBitcoin
Image from Unsplash edited in Canva