Understanding Farming on EasyFi App
The EasyFi app has been made with the intent of the affirmation and efficiency of farming. Farming works hand in hand with staking as there is availability of more avenues to farm multiple assets as rewards by staking EZ, the EasyFi token and providing liquidity to money market pools.
With the launch of the farming module on the EasyFi app, users will now get more incentivization opportunities via the Dual Farming and Liquidity Farming (LP Farming) sub-modules on the EasyFi app.
Dual Farming is a staking methodology in which the user stakes one token and gets two in return. The staked token is either a partner token or EZ in which the reward is a return of two tokens. Both the partner token plus EZ.
For instance, Staking EZ gives Farming EZ and XYZ or Staking XYZ gives Farming EZ and XYZ.
What is Liquidity Farming?
Liquidity farming has two methodologies, both based on the staking of two different types of liquidity tokens.
1.) LP Token from DEX — A Liquidity Pool token is received when a user provides liquidity to a set of token pools on a DEX such as Uniswap, QuickSwap or PancakeSwap. The ensuing LP token received on adding that liquidity can then be deposited on the Liquidity Farming module to earn EZ or a partner token on EasyFi.
2.) Lending Supply Tokens — With EasyFi being a Lending protocol, users can deposit / supply their tokens for lending on a market and borrow against that supply. Users get an eToken (EasyFi token) as a derivative of their token supplied for lending. This eToken can then be deposited in the Liquidity farming module for further rewards as designated.
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