Libre is happy to announce that we will be providing our Single Asset entry farming protocol to all of our partners as a way to aid them with their Liquidity Mining Incentives .
What makes the Libre farms Unique?
Our Certik audited smart contracts allow users to enter LP pairs by depositing only one asset into their desired farm. This allows for a more streamlined and simplistic entry into yield farming for new users. Below is an example of how it works:
Let’s say your project (we’ll call it, Project X) wants to create a USDT/Project X farming pair that will pay out Project X rewards to LP providers. First, your project must have liquidity in this pair on one of our supported DEXs (Pancakeswap, Trader Joe or QuickSwap). We will create the farming contracts for this pair so that the farm exists both on our Dapp, and your projects Dapp, This is for full exposure so that both Libre users and the users of your project are able to take part in farming Project X tokens.
In the case of USDT/Project X farms, a user will enter the farm with only USDT. Let’s assume the user deposits $10,000 USDT. The protocol will then use 50% ($5000) USDT to purchase Project X tokens on the DEX that Project X is trading on, it will wrap USDT and Project X tokens as LPs and deposit them into the USDT/Project X farm. This entire process takes roughly 30 seconds for users to begin generating yield, and it creates constant buy pressure for Project X token, since for every deposit, the contracts use 50% of the deposited token to purchase Project X.
You are free to decide how many rewards you want to distribute, the length you would like the farm to be open for, and the APR that you would like to set (this can be fixed or flexible).
This service is free of charge to all our of partners (users will be charged a 3% deposit fee on all farms).