Impermax Launches Leveraged Yield Farming for Solidly on Fantom
It’s done, after many requests Impermax is finally live on Fantom! And it’s launching in big style, enabling leveraged yield farming for the first time for Andre Cronje new DEX: Solidly. Impermax is integrating Solidly boosted rewards through Solidex, a yield optimizer for Solidly.
There are 3 fresh innovations that Impermax is bringing to Fantom:
- Autocompounder for Solidly and Solidex
- Leveraged Yield Farming for Solidly and Solidex
- Single Sided Liquidity Providing to Solidly
Autocompounder for Solidly and Solidex
Solidly is a DEX on Fantom which incentivizes liquidity providing through SOLID token. Solidex is a yield optimizer for Solidly that offers users a boosted SOLID reward and distributes its own token, SEX, on top of it.
We have created an autocopounder for Solidex. This means that by depositing your Solidly LP tokens on Impermax they will be automatically deposited on Solidex and all the SOLID and SEX reward you earn will be compounded to your LP balance. Impermax charges only a 1% fee for the auto compounding service which is used to incentivize permissionless auto compounding by the contract.
By using Impermax as autocompounder you can expect to earn the APR in gray, the one for 1x leverage.
*Notice that in the first few days APRs may be very volatile on Solidly due to market fluctuations and variable boosts.
Leveraged Yield Farming for Solidly and Solidex
Impermax’s main feature is leveraged yield farming. If you’re already a liquidity provider for Solidly who is farming on Solidex, you can leverage your LP tokens on Impermax instead in order to multiply your staking APR!
By leveraging on Impermax you will get all the auto-compounding benefits mentioned above. On top of that, you will be able to use your LPs as collateral to take a loan to increase your position size.
At first, Impermax will support only Solidly volatile pairs. In particular, the following pairs will be supported at first:
Single Sided Liquidity Providing to Solidly
If you still want to benefit from the Solidly APR craze but you don’t feel comfortable with the risks involved and the exposure to impermanent loss, Impermax has the perfect solution for you! By supplying your tokens on Impermax you can earn a return with no risk of impermanent loss. Just select any of the available pairs, go to the lending section and lend your tokens to yield farmers who want to leverage their position in that pair.
Impermax is also partnering with existing yield aggregating protocols on Fantom to help drive liquidity to the lending side.
At first, the tokens available for lending on Fantom will be the following:
Start using Impermax now!
Impermax is already live at the following link
In order to ask for support or discuss strategies with other yield farmers feel free to join our community on Discord and Telegram.