Linkswap launched liquidity mining on its DeFI Automated market makers on December 7th, 2020, which attained massive success registering mind boggling numbers on the first day itself.
The liquidity farming on LinkSwap garnered more than $7 million in the crypto assets on the first day of its rollout.
LinkSwap Liquidity Farming gains $7 million in Collateral
The first liquidity farming pools of LinkSwap garnered around $6.85 million in the crypt assets deposits across the ten liquidity pools on the very first day of its launch. This makes the overall Total Value Locked of the decentralized exchange to 10 million USD.
LinkSwap native token YFL had spiked after the rollout; however, the price correction happened soon thereafter, taking the price below $540. The token rallied massively on November 24th to $1160 after the announcement of the AMM launch. The recent success of liquidity farming pools on the LinkSwap exchange has not helped surge the YRL token price.
YFL/wETH and YFL/LINK are the two thriving liquidity pools on the AMM, which have now accumulated more than $2 million collaterals making more than half of the total accumulation on the ten liquidity pools. As per the LinkSwap dApp, these two pools provide the highest rewards for YFL tokens and therefore generated considerably increased liquidity for the farmers.
LinkSwap liquidity farming was created to compete with Uniswap, which ended its liquidity farming last month. The LinkSwap liquidity farming AMM offers promising rewards to the community members through its native YFL token. The users would have to stake their liquidity pool tokens for getting the rewards in various altcoins: the rewards from the staking session would be given to the farmers daily
The users would stake their LINK tokens on the reward staking website and several other crypto tokens on the AMM’s ten liquidity pools to earn the YFL token. The rewards would be given to users in YFL, and then the users can retake their LP to get access to the alt rewards as per the blogpost by LinkSwap.
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