Muesliswap launches stablecoin yield farm on Cardano

by
DeFi
Muesliswap launches stablecoin yield farm on Cardano

Muesliswap, a decentralized exchange on Cardano, has announced the launch of a stablecoin yield farm dubbed Organic APR, per a report on December 8.

With this launch, the DEX plans to play a role in DeFi through stablecoin earn programs. The organic yield farm will incentivize liquidity allocation for the synthetic stablecoin IUSD.

Organic APR launched at 21:00 UTC on December 7, 2022, and it will last for 30 days. Accordingly, the scheme will be revised on January 4 based on how the pool and other staking programs like Indigo Staking develop.

Muesliswap said in a tweet:

“We are excited to announce a new yield farm: iUSD/ADA This is the first yield farm for stable coins on Cardano. It will be incentivized with MYield and ADA using Organic APR for the next 30 days.”

Users must deposit iUSD and ADA in the MuesliSwap iUSD liquidity pool to farm. Liquidity provider (LP) tokens can be staked on the MuesliSwap platform. Participants in the form of ADA and MYield can earn rewards.

Muesliswap has partnered with Indigo to get MuesliSwap LP tokens added to the list of assets eligible for staking with INDY. As a result, users ought to have the freedom to decide whether to stake at MuesliSwap or Indigo.

Due to the early release of MuesliSwap staking, there isn’t a lock-up duration for staking, allowing one to initiate with Muesliswap and switch to Indigo later. There won’t be any requirement to relocate liquidity; only the LP tokens must be moved.

The recently added Organic Farming emission schedule will control how the APR of the iUSD/ADA pool is calculated. This generally means that everyone’s APR will rise as total TVL does until Muesliswap arrives at the desired pool liquidity.

Muesliswap doesn’t need to grow further once smooth trading with minimal price impacts is ensured, at about 1 million ADA.

Follow Us on Google News
Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.