Onyx DAO and ApeSwap Celebrate Arbitrum Airdrop with ARB Liquidity Farms and Reward Pools

There has been a lot of excitement in the decentralized finance (DeFi) space over the past week, with a mini-market rally, the launch of ApeSwap and Onyx DAO on Arbitrum, and most exciting of all, Arbitrum finally announcing the storied ARB token airdrop . Current estimates are that over $1 billion worth of ARB will be dropped in total. To make this news even more exciting, Onyx DAO has introduced two new features centered around the ARB token.

Onyx DAO ARB farms and pool

The first product is ARB ApeSwap Yield Farms, which allow users to convert their ARB tokens into a liquidity pair that can be staked to earn OnyxDAO (ONYX) token rewards. This allows users to earn from their ARB tokens, making ARB a highly liquid token to trade on ApeSwap’s decentralized exchange.

The main $ARB farming pair will be $ARB – $ETH.

Additionally, Onyx DAO has created an ARB rewards pool through which users can stake ONYX tokens to earn ARBs. This allows users to create iterative rewards where they can use ARB Liquidity to earn ONYX and then use their ONYX to earn more ARB. Onyx DAO is one of the few places in the entire Arbitrum ecosystem with the utility that allows users to earn ARBs directly!

What else does Onyx DAO offer?

Aside from being able to earn ARB, users can stake ONYX to earn several other major cryptocurrency tokens including Ether (ETH) and USD Coin (USDC)! ONYX is one of the few tokens that offers users instant, rewarding utility.

Onyx DAO also has over a dozen other liquidity farming options for users, including yield farms based on Tether (USDT), Bitcoin (BTC), Chainlink (LINK), and ApeSwap (BANANA). All of these farms allow you to earn ONYX, which you can then use in the reward pools for additional income.

Starting March 28th, Onyx will introduce DAO Treasury Bills via ApeSwap. Treasury Bills allow users to sell their ONYX/ETH liquidity to the protocol to earn ONYX tokens at a discount. This ensures that the ONYX token is more liquid and less volatile, allowing users to earn ONYX at a discount to participate in reward pools.

Find all Onyx DAO product offerings here.

About Onyx DAO

Onyx DAO aims to solve problems associated with yield growing protocols with an experimental, innovative model that puts ONYX growers at the forefront, specifically:

• Use of sustained liquidity mining (e.g. concurrent borrowings, farms and pools)
• Deterring Bad Actors (Farmers Abusing ONYX Emissions) and Rewarding Good Actors (ONYX Farmers, Owners, and Bill Buyers)

Long term, Onyx DAO will focus on creating innovative prediction markets and vault strategies.

The full details of Onyx DAO can be found here.

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