10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Crunchy Showcases Its Core Strength With Self-Service Yield Farm Setup: 50+ Farms Up In A Few Days

Crunchy showcases its core strength with self-service yield farm setup: 50+ farms setup in a few days. Creating a LP yield farm pair on Tezos has just become as simple as filing out a form.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Crunchy Yield Farms

Crunchy Network, the provider of DeFi as a service, just took another giant step for Tezos DeFi (Decentralized Finance). DeFi applications are financial applications that work through smart contracts on a decentralized blockchain without the need for a third party. This way 2 parties can interact according to preset rules without the need to trust each other.

The DeFi fire starter on Tezos was the launch of Quipuswap which gave birth to one of the first crucial components of DeFi that really accelerated Tezos DeFi as a whole.

With Quipuswap live, we have a decentralized exchange where anyone can simply set up trading pairs to enable trading these tokens. Without the possibility to trade tokens, price discovery is impossible and no one will assign value to tokens.

Once Quipuswap was live and enabled trading of any Tezos-based token, a lot of projects launched on Tezos that distributed a large variety of tokens through airdrops, presales, and yield farming distribution. It’s undeniable, with the birth of Quipuswap a vibrant market started to grow swiftly. Very soon after this, yield farms started to launch. SalsaDAO being the first of many.

In yield farms, holders of specific tokens can stake these tokens and earn more tokens. Yield farms are set up for a variety of reasons. Projects can distribute tokens, create incentives for people to provide liquidity, or other creative financial solutions.

For example, holders of token A can stake their tokens and receive more of token A, (or other tokens. For example governance tokens). This way, token A is further distributed as a loyalty reward. Yield farms create a great incentive to hold.

Another common reason to set up a yield farm is the fact that you can use it as an incentive to provide liquidity to trading pairs on decentralized exchanges.

Holders of token A can be required to provide liquidity on Quipuswap for example, and allow the Liquidity Pool (LP) tokens that are obtained by providing liquidity to be staked and earn more of token A. This enables an asset to become more liquid on the decentralized exchange.

Yield farms are currently a big part of the fast-emerging DeFi ecosystem on Tezos. Plenty DeFi farms being one of the biggest, and SalsaDAO the longest-running.

To create a yield farm, you’d either have to be able to launch your own farm smart contract, or be dependent on existing farms to launch your yield farm on their platform.

Crunchy changed that. Creating a LP yield farm pair has just become as simple as filling out a form.

“Anyone can easily create a farm with their Quipuswap pair and reward token. Our farms work with both FA1.2 and FA2 Quipuswap pairs, as well as both FA1.2 and FA2 reward tokens.”

Once the form is filled out, you press “create farm”, sign the transaction with your wallet, and the farm is created. (The wallet that you use, should obviously hold the number of reward tokens that you have submitted in the form for distribution.)

Currently, there are close to sixty yield farms that are live on the Crunchy platform. Some of them with a current yearly yield percentage of over 15,000%. (Before you ape in, make sure you understand the risks of adding liquidity to a trading pair, the risk of rug pulls, the risk of highly volatile young tokens, and the risk of low liquidity pairs, just to name a few.)

DeFi can be rewarding, but it remains a high-risk field to play.

DeFi As A Service

Crunchy Network offers DeFi as a service. And for that service, a fee will be paid by the yield farm creator. To create a farm, you will need CRUNCH, which is the main token of the Crunchy network, and a percentage of the deposited reward tokens will be charged.

This means that for every farm created, a sum of CRUNCH tokens are required and burned by the creation of the farm.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

Upload Article

Complete the submission form, which includes fields for your name, contact information, a short author bio, and the title of your article. Submit your Word document as a word doc file. If you encounter any issues during the submission process, please contact our support team for assistance at [email protected]. We encourage all aspiring contributors to read and understand our submission guidelines and editorial policy before submitting.

Hidden
Hidden
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Banner Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Image
Accepted file types: jpg, jpeg, png, Max. file size: 128 MB.
Image
Accepted file types: pdf, doc, docx, Max. file size: 128 MB.
Submit Article: Suitable Formats = PDF, WORD
By Uploading an article, you are accepting all to all copyright and information that is to the best of your knowledge true and accurate.
Agree(Required)

Other News

View More

Unveiling SpicySwap: Tezos’ Next-Gen DEX

Developed by Genius Contracts, SpicySwap offers users a seamless and efficient trading experience while introducing novel features to the Tezos ecosystem.

Read More

Unveiling tzBTC 2.0: A New Era for Wrapped Bitcoin on Tezos

tzBTC 2.0 will be unveiled for the Tezos blockchain by the end of April 2024. Building upon the success of its predecessor, tzBTC 2.0 offers enhanced accessibility and cost-effectiveness ushering in a new era for the intersection of Bitcoin and Tezos.

Read More

TezFin Launches Full Production Version With The Aim To Sustainably Scale Tezos DeFi

TezFin has officially moved from its beta stage to launch its full production version, initiating a new era in the Tezos blockchain’s decentralized finance (DeFi) lending sector. The announcement was made through TezFin’s official Twitter handle, @TezosFinance.

Read More