Superlend and Etherlink are preparing to launch Apple Farm, an on-chain incentive platform set to distribute $3 million in rewards during its first season. More than 40,000 users have already signed up for the waitlist, and those who join prior to launch will receive an additional rewards boost. Apple Farm operates on an EVM-compatible layer 2 network supported by Tezos smart rollups, offering low transaction costs and short confirmation times.
The platform aims to reward participants who supply liquidity, lend assets, and trade on specific DeFi protocols. Its core set of initial protocols and earning opportunities includes:
- Superlend – A lending and borrowing aggregator on Etherlink. Users can earn incentives by supplying XTZ, among other activities. The aggregator’s features include rate comparisons, position migration, and tools such as liquidation reminders and insurance options.
- xU3o8 – A service that provides direct on-chain access to physical uranium investments without an upfront KYC requirement. Apple Farm users can earn additional incentives simply by holding xU3o8.
- Hanji – A lightning-fast on-chain limit orderbook protocol. Participants will be able to earn rewards by submitting market orders, enabling a straightforward way to accumulate incentives.
- IguanaDEX – A decentralized exchange on Etherlink that supports token swaps. Liquidity providers in the WETH/XTZ pool, among other pairs, can earn incentives for contributing to the platform.
Additional earning opportunities are expected to be announced at launch, with the likelihood of new DeFi protocols being added over time. Etherlink also plans to introduce near-instant, trustless withdrawals from its layer 2 to the Tezos L1, which may further simplify movement of assets between layers.
Etherlink also recently announced that users can now deposit and withdraw XTZ on Etherlink via Gate.io.
Superlend, one of the focal points of Apple Farm, describes itself as a cross-chain lending and borrowing aggregator. By providing users with a unified interface, it allows them to compare rates and manage positions across multiple protocols. The service aims to enhance user experience by offering features such as historical rate analytics, same-chain debt position optimization, and access to various DeFi strategies.
Both Superlend and Etherlink have teams experienced in DeFi, traditional finance, and technology development, having worked on a range of blockchain ventures. Their goal is to create a more streamlined environment for users looking to explore on-chain lending, trading, and earning opportunities.
For further details on Apple Farm and to join the waitlist, individuals can visit the official websites of both Superlend and Etherlink. By signing up early, participants may gain a head start in collecting rewards once Apple Farm is live and distributing its first wave of incentives.
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