MadFish Solutions, the developer behind QuipuSwap, a decentralized exchange on the Tezos blockchain, proclaimed the commencement of yield farming programs with elevated APRs.
QuipuSwap users can engage in yield farming within the Tezos ecosystem and acquire rewards in QUIPU tokens. QuipuSwap farms will debut with QUIPU and QUIPU/TEZ staking. Farms with alternative tokens will be incorporated shortly.
Yield Farming on QuipuSwap
The QUIPU token is utilized in QuipuSwap AMM governance and as a mode of payment for QuipuSwap’s forthcoming services. Subsequent to the debut of the cross-chain bridge, on which the MadFish and Allbridge teams are collaboratively laboring, cross-chain farming will likewise become accessible to QuipuSwap users.
QUIPU possesses a total fixed supply of 10,000,000 tokens, and full distribution was initially intended to be finalized within four years. Furthermore, the team has devised token burning mechanics, with one being a “Bakery Reward incineration” initiative.
Bakery Reward incineration entails that all baking rewards amassed in Tez/Token farming pools will be exchanged to QUIPU and burned (buyback & burn).
Yield Farming Functionalities
To safeguard QUIPU holders from inflation, farms commence with modest rewards and will steadily augment as the TVL grows. Farming functionalities on QuipuSwap are tailored for the average DeFi user. To participate in an active farming program, link a wallet to the Tezos protocol (we suggest utilizing Temple), pick the program, input the quantity of tokens (or LP shares) you wish to allocate to a farm, and stake them.
What is Tezos?
As insinuated earlier, the fundamental concept behind Tezos is to establish a blockchain governance system that could upgrade itself through XTZ token voting. Consequently, XTZ stakeholders would possess the authority to vote on the regulations of the network, with the software automatically triggering the update. This would significantly diminish the likelihood of creating a scenario of irreconcilable disparities that could subsequently result in a hard fork.
There was no undertaking akin to it in the blockchain ecosystem before, as it initiated the now prevalent differentiation between on-chain governance and off-chain governance. Consequently, Tezos resembles the latest generation of blockchains. It can execute smart contracts while prioritizing being a cryptocurrency primarily.
About MadFish
MadFish Solutions is among the primary Tezos ecosystem enterprises that formulated the QuipuSwap AMM protocol, Temple Wallet, and the Yupana Finance lending protocol. Their products cater to an audience of 200,000 users.
