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 any third-party dependency.
In addition, anyone can provide liquidity for trading pairs on Quipuswap. (If you are considering this, make sure you understand all the details. For example impermanent loss.)
Today, Madfish Solutions, the developer of QuipuSwap, announced a new feature to be added to QuipuSwap. Yield farming will be introduced on QuipuSwap with immediate effect.
It was determined:
“Starting March 30th, all QuipuSwap users can participate in yield farming programs with high APRs and earn rewards in the form of QUIPU tokens. QuipuSwap farms are started with QUIPU and QUIPU/TEZ staking. Farms with other tokens will be added soon.
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 use farm and use them.
The full QuipuSwap farms review is available on the MadFish blog.”
QUIPU token
The QUIPU token is the governance token of the QuipuSwap dApp and is used in the QuipuSwap AMM governance.
In addition, 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 be available to QuipuSwap users.
QUIPU has a fixed total inventory of 10,000,000 tokens and the full distribution was originally scheduled to be completed within 4 years.
QUIPU burning mechanics
Madfish Solutions has developed token burning mechanisms, one of which is a Bakery Reward Burning program.
Burning Bakery Rewards implies that all Baking Rewards accumulated in Tez/Token farming pools are exchanged and burned in QUIPU (Buyback & Burn).
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