blockchainreporter.net
A BNB Chain-based well-known decentralized exchange PancakeSwap has recently announced releasing Farms on the Polygon-based zkEVM PancakeSwap. On its official web portal, the company published a blog post to provide details of this development. The platform noted that it keeps on enhancing the DeFi activities of the users. As per it, the ongoing move is an exclusive chapter in this respect and the firm is enthusiastic about it.
Release of Farms on Polygon-based zkEVM PancakeSwap Attempts to Enhance Consumer Experience
In addition to this, the DEX added, it intends to offer the impending addition apart from the provision of liquidity and swaps. Moreover, the feature of Farms serves the top trading pairs taking into account WETH-MATIC, USDT-USDC, WETH-USDT, and WETH-USDC on Polygon zkEVM PancakeSwap. According to the decentralized exchange, Farms permit the consumers to stake their LP tokens as well as generate rewards in CAKE tokens.
It added that this will permit them to enhance their holdings in cryptocurrency while keeping a significant position in the case of LP tokens. The platform described yield farming as a form of liquidity mining. PancakeSwap mentioned that yield farming enables users to get rewards parallel to holding a position in the other tokens.
With the provision of liquidity, consumers contribute to the convenient operation of DEXs while generating passive income via extra tokens. The decentralized exchange pointed out that the Farm facility provides several opportunities for the users to obtain rewards while simultaneously taking part in the exciting DeFi ecosystem. The company stated that the clients can stake their coins in the selected liquidity pool to observe the growth of their token holdings.
It moved on to say that the platform will assist the users in their trading experience and the provision of extra coins as a reward for their contribution. PancakeSwap asserted that the consumers actively take part in Farms. This would potentially lead to enhancing their yield, optimizing their capital efficiency, as well as unlocking their crypto holdings.
The Company Welcomes Projects That Intend to Incentivize Liquidity
The platform claimed that it will make more efforts to enhance these incentives over time. It brought to the front that it welcomes projects in pursuit of incentivizing their liquidity through the Farms. The company expects the Farms to offer numerous possibilities. The launch of the Farms is evidence that the platform is endeavouring to follow its commitment concerning innovation, PancakeSwap added.