How to use BYOF?
Step 3) Choose the type of farm you want to create - you can choose between Ecosystem Farms (no vesting), Dual Farms (dual rewards with no vesting), Launch Farms (vested rewards), and Popular Farms (vested rewards with burn rate for early redemption).
Step 4) Fill out the other parameters and click on “Create”. You will be required to fill out the following parameters:
- The Dfyn LP token that you want the users to stake
- The reward tokens and their amounts
- Start Date
- Duration of the farm
- In case of Popular/Launch farms, you will also be required to choose a vesting period (60 days, 120 days or 180 days) and the number of tranches in which you want the rewards to be split (2,4,or 5)
- In Popular farms, you will also have to enter a burn rate, i.e., the percentage of rewards that the user will forfeit in order to opt-out of vesting and redeem their rewards as soon as the farm ends
DFYN provides different types of farming options and each farm has different benefits. Therefore, choosing the right farming strategy is a critical consideration while deploying a farm.
- Ecosystem Farms - If you want to launch a farm with single token rewards which can be claimed at any time, then Ecosystem Farms is the right choice.
- Dual Farms - If you want to provide dual token rewards which will accrue block-by-block (rewards can be claimed at any time), then Dual Farms is the right option for you.
- Popular Farms - This is the right venue to launch farms that require users to stake popular LPs (stablecoin pairs or pairs involving tokens such as wBTC, ETH, UNI, CRV, SOL, etc.). Popular Farms often have high APRs and attract a high TVL. Rewards from Popular Farms will be vested, but the users will also have an option to redeem their rewards earlier in exchange for forfeiting a part of their rewards.
- Launch Farms - If you want to promote a new project, launch farm is the best platform for you. Rewards from launch farms will be vested over a period of time, but there is no notion of early redemption of rewards.