Yield Farming Feature Is Now Live On QuipuSwap

by | Mar 30, 2022 | DeFi, Latest

Today Madfish Solutions, the developer of QuipuSwap, announced a new feature that has been added to Quipuswap.

Starting now, yield farming is launched on QuipuSwap.

Disclaimer: DeFi is high risk and the following article contains no financial advice. It is recommended that thorough research is undertaken on any DeFi/blockchain applications, utilizing multiple sources, before participating with any blockchain projects, or tokens in this space. Read our full disclaimer here.

Quipuswap Adds Yield Farming

QuipuSwap is currently the most popular Decentralized Exchange (DEX) on Tezos. QuipuSwap allows anyone to trade any Tezos-based token without the need for third party dependency.

Additionally, anyone can provide liquidity for trading pairs on Quipuswap. (If you consider doing so, make sure you understand all the ins and outs. For example impermanent loss.)  

Today, Madfish Solutions,  the developer of QuipuSwap, announced a new feature that is added on Quipuswap. Starting now, yield farming is launched on QuipuSwap.

It was stated:

“Starting March 30, all QuipuSwap users will be able to participate in yield farming programs with high APRs and earn rewards in the form of QUIPU tokens. QuipuSwap farms will launch with QUIPU and QUIPU/TEZ staking. Farms with other tokens will be added shortly.

Farming features on QuipuSwap are designed for the average DeFi user. To join an active farming program, connect a wallet to the Tezos protocol (we recommend using Temple), select the program, enter the number of tokens (or LP shares) you want to dedicate to a farm, and stake them.

The full review of QuipuSwap farms is available on the MadFish blog.”

QUIPU tokens

The QUIPU token is the governance token of the QuipuSwap dApp and is used in QuipuSwap AMM governance.

Additionally, QUIPU will be used as a means of payment for QuipuSwap’s future services.

After the launch of the cross-chain bridge, cross-chain farming will also become available to QuipuSwap users.

QUIPU has a total fixed supply of 10 000 000 tokens, and full distribution was initially planned to be completed within 4 years. 

QUIPU burning mechanics

Madfish Solutions has developed token burning mechanics, one of which is a “Bakery Reward burning” program.

Bakery Reward burning implies that all baking rewards accumulated in Tez/Token farming pools will be swapped to QUIPU and burned (buyback & burn). 

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