Solfarm Blog Updates

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  • Solfarm Blog Updates

     solbot updated 4 days, 6 hours ago 1 Member · 5 Posts
  • solhack

    Organizer
    April 28, 2021 at 9:49 am

    Solfarm Blog Updates

  • solbot

    Member
    April 28, 2021 at 2:41 am

    SolFarm

    The efficient Solana yield aggregator

    Introducing SolFarm

    SolFarm is a decentralized yield aggregator on Solana built ground up, being the first of its kind in the Solana ecosystem.

    The strategies used in our vaults are designed in-house to maximize user’s profitability. Users will be able to deposit their funds into our vaults and sit back while the vaults do the hard work. Auto-compounding will generate the optimal yield with efficient time intervals between harvests.

    With Solana’s low transaction costs, our strategies are able to compound frequently, boosting users earnings.

    Why SolFarm?

    Our platform is designed to streamline the farming experience for our users. Solana can be confusing for new users and it is our goal to reduce friction and allow users to earn yield with ease.

    Our vaults will charge a small fee and in return, we will ensure depositors earn the optimal APY on their assets.

    Compounding (selling rewards and returning them to the LP pair) manually can be tedious . Utilizing our auto-compounding vaults, users are ensured of max-efficiency yield. With the SolFarm protocol, users can expect:

    • Convenience
    • Set and forget
    • Optimal APY due to auto-compound
    • Gas efficiency

    Vaults and Platforms

    To kick-off the launch of Solfarm, we will integrate with Raydium’s farms in order to start earning yield for our users. Our v1 launch will support the following Raydium vaults:

    • RAY-USDT
    • RAY-USDC
    • RAY-SRM
    • RAY-SOL
    • RAY-ETH
    • COPE-USDC
    • STEP-USDC

    Only single asset reward pairs are supported on the v1 launch, but double asset reward pairs are in development as well.

    Coming Soon

    As more projects build on Solana, we are confident that SolFarm will be able to meet the needs of our users with our team. There will be no native token at launch. However, we may reward early participation in our beta further down the road. Stay tuned to learn more about what we have in store for all farmers in the Solana ecosystem with SolFarm.

    About SolFarm

    🌐Website

    🐦Twitter

    💬Discord

    Go to Source
    Author: SolFarm

  • solbot

    Member
    May 3, 2021 at 2:55 pm

    🧑‍🌾 Greetings to all Solana farmers, the wait is over and the farm is now open for harvest. SolFarm v1 vaults have launched and support Raydium LP token deposits for the following vaults:

    • RAY-USDT
    • RAY-USDC
    • RAY-SRM
    • RAY-SOL
    • RAY-ETH
    • STEP-USDC
    • MEDIA-USDC

    Unfortunately, the COPE-USDC vault has been put on hiatus. Due to the token not having decimals, there is an error with rounding that can lead to loss of funds. We have been informed that COPE may be relaunching the token to fix the decimal issue and our team will monitor that closely.

    Farmers only need to deposit LP tokens, and the rest of the work is done by the vault.

    Our compounder currently harvests at an hourly rate but we may adjust this based on vault performance and TVL.

    The fee structure at launch will consist of the following:

    • Controller fee: 0.01%
    • Platform Fee: 0.1%
    • Vault Fees: 0.0%
    • No deposit/withdrawal fees

    The fees are subject to change in the future based on the needs of the platform.

    WARNING: All code on SolFarm is in beta and experimental. Please exercise discretion when using the dApp. Our team is currently in talks with several auditing firms for audit requests.

    Transactions generally take 1 minute to confirm and propagate on the network, please do not spam click requests as it will increase unnecessary server load and cause unwanted transactions.

    What’s Next

    The team is already working on the next update to our vaults, including vaults for the double reward asset pools on Raydium and allowing users to zap in/out (provide/withdraw single asset on our UI).

    Early farmers may also be rewarded in the near future. 😉

    We are very excited to be launching and we look forward to seeing bountiful harvests in the fields of SolFarm!

    About SolFarm

    🌐Website

    🐦Twitter

    💬Discord

    Go to Source
    Author: SolFarm

  • solbot

    Member
    May 3, 2021 at 9:39 pm

    A quick guide on how to add liquidity to SolFarm

    Hello new SolFarmers, this article will detail how to utilize our v1 vaults.

    Firstly, you would have to add liquidity for your desired pair on Raydium.

    Use the module to add the desired amount of liquidity and Raydium will give you LP tokens for that specific pair. You can then navigate to the vault page and click on your desired pair.

    If done correctly, the LP tokens will show up in the “Wallet Balance” column and you will be able to deposit. Once deposited, the funds will appear in the “Deposited” Column. Any rewards accrued will be added to your “Deposited” balance.

    To avoid users hopping in and out of vaults to game rewards, you will be required to keep your funds in the pool for at least 2 hours to avoid any penalties. If you withdraw before this period elapses, you will forfeit any rewards accrued during that time.

    Happy farming!

    About SolFarm

    🌐Website

    🐦Twitter

    💬Discord

    Go to Source
    Author: SolFarm

  • solbot

    Member
    May 4, 2021 at 8:26 pm

    Hello SolFarmers, it’s been a bountiful harvest since our launch 24 hours ago. Our vaults are currently harvesting rewards for 95MM of TVL, thank you for your support!

    A farmer’s harvest.

    Our team has coordinated with Step Finance, Ape Board and Sonar Watch for integrating and you will be able to track your SolFarm harvest on these platforms very soon!

    Moving Forward

    • Our team is currently looking into adding vaults for the double asset reward pools on Raydium
    • Our team is continuing to optimize our code and preparing a backup RPC node
    • Our backend code is being peer reviewed as we wait for an audit

    Until our next update, happy farming SolFarmers!

    _

    About SolFarm

    🌐Website

    🐦Twitter

    💬Discord

    Go to Source
    Author: SolFarm

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