Introducing Varen

Varen is an Ethereum based multi-chain DeFi hub, which soon will launch reward pools on Varen DEX.

Their vision for Varen is to be an Ethereum based multi-chain DeFi hub, with a focus on bringing multi-chain services to retail DeFi users, powered by DEX at varen.exchange.

Varen, or Varenne originally, was considered the dark horse in trotter racing. Always coming up from behind, before eventually going on to become a legendary racing horse.

This is thesis at Varen: build quietly, focus on a long term sustainable ecosystem, and dedicate to building high quality code, an immersive user experience, and provide accessible information to push the defi user experience and user value forward.

🔸Reward pools

To celebrate rebrand they will be launching the following reward pools within the next two weeks:

VRN/ETH

VRN/USDC

ETH/USDC

LINK/USDC

Each pool will have 200 VRN emitted over a period of 6 months. They call these pools the “Oracle batch”, and they are launching liquidity incentives for these pools to ensure the long-term health of DEX’s price oracle, while rewarding liquidity providers with governance token.

VRN can also be staked in the soon to be deployed, new governance vault with staking rewards from volume on Varen DEX. These staking rewards are accrued in Varen DEX LP tokens that are periodically sold for VRN and distributed to stakers, creating buy pressure for VRN. Additional rewards will be distributed to the vault after launch.

🔸Tokenomics

The total supply of $VRN is 88,888. Of that, 49,000 was sent to the migrator contract for 1:1 migration from $YFL.

Additionally, 39,888 $VRN tokens were sent to the treasury to be allocated to the development of the Varen protocol, with the intent to support the growth of the protocol for years to come. The tokens allocated to liquidity mining & staking rewards are for partnerships and strategic liquidity plays as they arise over the foreseeable future, and will only be allocated as such when attached to a clear purpose and always safeguarding the health and resiliency of the protocol.

📰 INFO:

https://blog.varen.finance/introducing-varen-your-ethereum-based-multi-chain-defi-hub-971403e4ada6