Pangolin DEX introduces the “Super Farm” program offering up to 10 token rewards on a single farm!

Despite the massive drawdown in the value of the cryptocurrency market, chopping off almost $1.5 trillion since November, projects in the field are still innovating at a rapid pace. Leading the BUIDL-phase is Avalanche, a layer 2 scalability solution, which witnessed massive growth in 2021 due to its innovative stance in decentralized finance (DeFi) properties including but not limited to staking, liquidity provision, and yield farming.

Source: cryptodaily.co.uk

Pangolin, an Avalanche-based DEX, has been the home of DeFi on Avalanch for many newcomers in the field as Avalanche continues to boom with new developers and opportunities for strategic investors. The sudden boost in Pangolin’s value has seen many investors join the platform to farm and provide liquidity. Reaching an all-time value locked of over $470 million in November, according to data from Defi Llama, Pangolin ranks third in Avalanche-agnostic projects with an overwhelming demand for liquidity mining incentives.

Introduction to Pangolin Super Farm program

As such, the project is introducing a new version of yield farming, “Super Farms”, that enables liquidity providers to earn the native token, $PNG, and other projects tokens simultaneously. Unlike other yield farms, the Pangolin Super Farm program allows farms to accommodate incentivizing farms with more than one or two tokens. The Super Farms payout anywhere between 2-10 reward tokens at the same time.

“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.” -Stephen, Pangolin Head of Strategy

To kick off the Super Farm program, Pangolin started upgrading some of the farms to dual rewards (paid rewards in $PNG and the native token). Starting February, developers and projects can add any amount of token rewards to a farm boosting overall participation in their liquidity incentive program. For instance, if you have an AVAX-PNG farm paying out $PNG rewards, you can add your tokens ($MYTOKENS) as a reward, meaning the LP will receive both $PNG and $MYTOKENS as farming rewards.

In a statement , Pangolin announced a partnership with PangoChikn ($FEED) offering a full month $FEED-$AVAX LP Super Farm for $PNG-$FEED double rewards! The Super Farm has already kicked off and is expected to run till February 22. Other projects in the Pangolin Super Farm program include Police & Thief Game (earn $LOOT & $PNG), MetaBrands (earn $MAGE & $PNG), Angle Protocol (earn $ANGLE & $PNG), Pollen DeFi (earn $PLN & $PNG), Dragon Crypto Gaming (earn $DCAU & $PNG), and X DAO (earn $HTZ & $PNG).

As time flies by, Pangolin announced more partner projects will join its Super Farm program to increase incentives and volumes on the platform. While users are incentivized with more rewards, what do these partner projects gain in return?

Building a case for the Pangolin Super Farm program

Before the launch of the Super Farms, decentralized exchanges worked as a singular entity aiming to attract liquidity using their own token. Recently, the launch of Olympus ($OHM) and its forks changed the liquidity provision field in DeFi forever. The projects started playing a role in liquidity by paying DEX farms directly to attract more liquidity to the farms and attention to their tokens. Contrary to the failed $OHM model, Pangolin’s Super Farm program aims at keeping its model sustainable and stable, while incentivizing both the users and projects entering in partnership.

First, the creation of multiple reward tokens on a single farm should represent a big increase in yield rates (APR/APY). More token rewards for the same farm means you could earn more rewards, enticing more users to stake hence boosting overall liquidity on the DEX.

Secondly, this also presents a great marketing opportunity for projects. It is not all about the token rewards, as projects also have a lot to gain from the program. It represents a revolution in the DEX farming arena, which has historically been thought of as just attracting liquidity for trades. For example, if you have a new project, you could add your tokens as rewards in the AVAX-USDC pool (a more well-known farm) and get your name on that farm while the rewards are running. This is a ‘free’ advertising opportunity for investors on the farm. Additionally, you also gain exposure to Pangolin’s incredible community and the support of Pangolin with co-marketing and business development teams.

Finally, the Super Farm program allows projects to widely and easily distribute their tokens to their communities and new communities. As the Pangolin Super Farm program grows, it will offer investors more incentives as projects enjoy the marketing value coming from it.

Final words

Finding a safe an secure DEX farm will help you earn money despite the current drawdown in the crypto market. With the latest innovation in Avalanche’s yield farming ecosystem, you can earn multiple tokens (4-10 tokens) while waiting for the crypto market to recover – a win, win strategy!

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