08 Apr 2021
Galaxy Farms 2 has officially kicked off and IG Gold (IGG), the esports token of IGGalaxy, is featuring! Router Protocol and Polygon (formerly Matic) Network have partnered with Dfyn Exchange to bring this INTERGALACTIC “farm” to the crypto community! Users can now stake liquidity from one pair to earn rewards of 11 different tokens at the same time!
Making this farm even more intergalactic is the fact that it is taking place on the leading layer-2 scaling solution for Ethereum. The use of Polygon will provide extremely cheap and quick transactions compared to Uniswap that currently operates on Ethereum. This will make for a much more enjoyable and affordable swapping/provision of liquidity for everyone participating!
Galaxy Farm 2, by Router Protocol, has launched!
If you wish to participate and take advantage of this amazing opportunity then read on!
For this article, we will walk you through participation with $IGG, but you can do the same for any of the other projects participating in the “farm”.
You will need a MetaMask wallet (app or browse extension) to interact with Ethereum and Polygon network-based applications. You can check out our guide on getting set up with MetaMask here. You can use other web3.0 cryptocurrency wallets too!
Step 1: Purchase Tokens
You can skip this step if you already have IGG and Ethereum on the Polygon Network.
Firstly, you will need to obtain IGG & ETH tokens. This can be done on either Ethereum or directly on Polygon Network. We recommend using the latter to avoid unnecessary fees:
If you have cryptoassets on Ethereum that you wish to deposit to Polygon, you can do so via your IGWallet. You can access our ChainSwap guide here **, but please remember, you must have sufficient ETH to cover the transaction cost.
Step 2: Provided Liquidity
Now you have IGG and ETH, you need to add the tokens as liquidity:
Once you have done this, you will receive Liquidity Pool (LP) tokens to your wallet that represent your ownership of the LP.
Step 3: Stake LP Tokens
Next, go to Router Protocol Galaxy Farms and deposit the LP tokens received into the IGG/ETH farm.
You are now ready to earn 11 tokens over the next 30 days!
There is a total of $300,000 rewards to be distributed over the 30-day period! This will be split over the duration of the farm and will be distributed in equal ratios. For example, 100$ rewards will mean 10$ worth of ROUTE and 10$ worth of Participant A, Participant B, and so on.
Within each pool, the rewards will be distributed based on the amount of LP tokens staked (ie how much liquidity you have provided).
Let’s take a brief look at the participating projects that you will be earning tokens for!
Below, we have provided a brief overview of each project as well as their website and twitter links:
We have to start with the project behind this fantastic farm. Router Protocol is building a suite of cross-chain liquidity infra primitives that aims to seamlessly provide bridging infrastructure between current and emerging Layer 1 and Layer 2 blockchain solutions.
We would hope we would need no introduction. We’re building a new and exciting space to play your favourite online games competitively, earn fair rewards, build your esports team, and socialise within a global gaming ecosystem built for you!
Glitch describes itself as a blockchain agnostic super protocol, purpose-built to facilitate trust-less money markets.
UNION is an insurance based project that combines bundled protection and a liquid secondary market with a multi-token model. DeFi participants can manage their multi-layer risks across smart contracts and protocols in one scalable system. UNION aims to decrease the barriers to entry for retail users and lays the foundation for institutional investors, reducing risks and costs of DeFi.
Razor describe themselves as a secure, decentralized and permissionless Oracle network, providing data to smart contracts using a network of stakers.
Stater are building an open-source lending platform for NFT assets.
Mantra Dao describe themselves as a community-governed DeFi platform that makes Staking, Lending, and Governance more accessible than ever before!
Frontier is a chain agnostic DeFi aggregation layer where users can participate in protocol tracking and management, staking, best-rate asset swapping, liquidity provision, CDP creation & monitoring, and more.
Designed to simplify DeFi investing
A fan-first on-chain fantasy & utility NFT (uNFT) sports platform built on Blockchain Technology
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