Router Protocol, a cross-chain-liquidity aggregator platform, and Polygon that was formerly known as the Matic network have partnered with DFyn, an Automated Market Maker (AMM) exchange built on Polygon, to launch L2 GalaxyFarm that will introduce gasless farming for the crypto ecosystem.
Through the partnership, crypto users who participate in the Ethereum ecosystem will now enjoy instant, gasless trading, and farming in the decentralized financial ecosystem alias Defi. High transaction fees and slow processing speed have characterized the Ethereum ecosystem every time there is a bull market.
The ongoing bull market that began in 2020 has seen Ethereum transaction fees higher than what was experienced during the 2017 bull market. With the decentralized financial (Defi) ecosystem boom that partly triggered the ongoing bull market, scaling is of much importance to sustain the rally.
Although there are decentralized exchanges like Uniswap that provide market liquidity in the crypto swapping market, high transaction fees have hindered the mass adoption of the decentralized finance (Defi).
The layer 2 GalaxyFarm is intended to provide a platform where users can enjoy fast transactions with low processing fees. “Router Protocol is building a cross-chain liquidity protocol and the first node of the Router Protocol is Dfyn.network which is a functional AMM-based DEX on Polygon (Previously Matic).”
“This yield farm will be based on Dfyn.network, i.e. the projects and participants will have to add liquidity on the Dfyn.network to be able to participate in the L2 GalaxyFarm which will introduce gasless farming for this ecosystem,”
Onwards, any Defi project on the Ethereum ecosystem and Polygon network can participate in the Layer 2 GalaxyFarm to reward their users. Notably, layer 2 GalaxyFarm participants can stake 1LP pair and earn rewards from ten different tokens simultaneously. Reward distributions in the farming process will be equal in all tokens.
Layer 2 GalaxyFarm has put a target for each project to contribute to the liquidity pool and thus the rewarding of customers. “Each project will be adding rewards of $30,000 to the pool so overall $300,000 of rewards will be distributed for the liquidity providers over 30 days. Staking period will be for 30 days and Users are allowed to un-stake anytime,”.
Notably, Layer 2 GalaxyFarm is expected to go live on April 6. The scaling solution especially on the Ethereum ecosystem will significantly help crypto users access rather inaccessible markets.
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Route TG – t.me/routerprotocol
DFyn TG – t.me/Dfyn_HQ
Galaxy Farm – https://galaxyfarm.routerprotocol.com/