TRON DeFi Ecosystem Has a New Participant, YFX
TRON, the leading blockchain-based operating system that aims to build a global digital content entertainment platform, has been making a huge investment in DeFi since 2020. In its effort to solidify its DeFi position in the market, TRON has teamed up with leading platforms like JUST, SUN, BitTorrent, and WINkLink Foundation to launch the much-awaited TRON Century Mining on March 8, 2021. Among its many participants, YFX (Your Future exchange) will be joining TRON Century Mining with the leading LP (liquidity mining) pool YFX-TRX at SUN.io. With YFX’s introduction into the TRON ecosystem, the TRON Century Mining applicants will be rewarded with an increased YFX-TRX LP liquid asset mining pace of around 6.8.
YFX.COM is a cross-chain decentralized contract platform based on Ethereum, Huobi Ecological Chain, Binance Smart Chain, OKEx public chain, TRON, and Polkadot. The platform provides up to 100 times the perpetual contract trading that BTC, ETH, or other similar assets can provide. YFX is quite different from the usual AMM (automatic market maker) model as it adopts the QIC-AMM market maker pool method to provide its users with high liquidity and low trading slippage. The primary goal of YFX.COM is to build a decentralized exchange that can compete with centralized exchanges on the derivatives trading track.
According to reports, the TRON Liquidity Mining campaign will last for 3 months, and TRON will be allocating the $100 million budget that it has reserved for its Developer’s Hackathon to Century Mining. If liquidity mining comes out to be a fruitful endeavor, TRON Foundation will consider providing unlimited subsidies to Century Mining participants to make it the biggest and the most rewarding event in the history of DeFi mining. Accordingly, users who participate in the TRON Century Mining will get rewards in 7 tokens: BTT, JST, TRX, SUN, WIN, YFX, and NFT.
For participating in the TRON mining, users first need to visit JustSwap.org to add liquidity and earn the LP tokens. After they earn LP tokens, they can freely visit Sun.io to stake their tokens. Adding liquidity to JustSwap is simple: users just need to click on the ‘Add Liquidity’ button, select 2 tokens of their choice, add the amount, and then again click on the “Provide “button. After confirming and providing the liquidity, users will get the corresponding LP tokens.
Now for staking LP tokens to Sun.io, users first need to login to Sun and select the corresponding mining pool and enter the amount they wish to supply. Then click on the “Accept” button to confirm the supply.
Each mining rewards batch will be unlocked once a week, with all rewards issued within a maximum of 24 weeks, starting from a week following the participation. A 10% of the entire LP pool mining rewards, equivalent to 33% of the overall SUN incentives, will be open for withdrawal at request. The outstanding rewards, including JST, SUN, TRX, BTT, WIN, YFX, and NFT, will be unlocked once a week, every 24 weeks.