Introducing Penguin Compunder-Highest Yield Compounder on Avalanche
A platform powered by Avalanche building an innovative set of decentralized applications, financial products, and documentation for both technologically savvy individuals, Penguin Finance introduce “Penguin Compunder”—The Highest Yielding Compounder on Avalanche.
HOW IT WORKS?
If you are farming in Igloos, you’ll need to withdraw your LP tokens and then re-deposit them in the compounder contracts to get access to the exclusive perks granted by this dApp.
To deposit your LP tokens into the compounder, unlock your wallet and click on the deposit button for your preferred farm. A transaction to approve the contract will take place, and once confirmed it’ll never appear again for the respective pool. Afterwards, you can open the deposit window and stake as many LP tokens as you want. Once that’s done, you’re autocompounding!
Auto-Nesting (Exclusive to Penguin Igloos)
Auto-Nesting is a feature that currently applies to all Penguin Igloos designed to decrease $PEFI sell pressure. This mechanism automatically converts 50% of PEFI net rewards into xPEFI (Penguin Nest). This is a single-asset staking token that grows with no risk of impermanent loss. By compounding your Igloo rewards in our Penguin Compounder, you are also getting access to exclusive dApps and utilities
xPEFI (Penguin Nests) exclusive benefits:
- Penguin Emperor: King-of-the-Hill style game-mode with prizes for the top ranking Penguins.
- Penguin Launchpad (Coming Soon): Exclusive access to token sales of upcoming projects on Avalanche.
- Club Penguin (Coming Soon): Passively earn free tokens from your favorite Avalanche projects (single asset xPEFI staking).
Claiming xPEFI
If you’re staked in a Penguin Igloo, you’ll notice a button next to “Withdraw” that claims xPEFI. When clicked, it sends your accumulated xPEFI rewards from the contract to your wallet. Even if left unclaimed your xPEFI will continue to increase in value since it’s automatically staked. At any time, you can decide to claim the xPEFI accumulated in the contract, allowing you to use it in Emperor, Launchpad, or Club Penguin dApps. It doesn’t matter how often you claim your rewards, it will continue to grow regardless.
“To check how much xPEFI you have in your wallet, claim it from the contract and head over to the Nests page and unlock your wallet; your current PEFI and xPEFI balances will be displayed.”
Current Listed Farms
- All PEFI Igloos
- Pangolin AVAX/PNG
- Pangolin AVAX/ETH
- Pangolin AVAX/LINK
- Gondola ETH/ZETH
- Gondola USDT/ZUSDT
- Lydia AVAX/ETH
- Lydia LYD/USDT
- Lydia LYD/PNG
- Olive DAI/USDT
Nest rewards collected from none igloo pools will be used to market buy $PEFI and then send it to the Nest, this means that as the Compounder grows, $xPEFI holders receive an even higher APY.
ABOUT Penguin Finance
Penguin Finance is a platform powered by Avalanche building an innovative set of decentralized applications, financial products, and documentation for both technologically savvy individuals and those with absolutely no knowledge of cryptocurrency.
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