Impermax Enables Leverage Yield Farming for Solidly

Published on: 26.02.2022

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

Impermax created an autocompounder 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 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:

FTM-TOMB
FTM-FRAX
USDC-OXD
FTM-IB
FTM-HND
FTM-SCREAM
FTM-SEX
USDC-SYN

Impermax

Impermax is a cross-chain, permissionless, decentralized lending protocol where users can participate as lenders or borrowers in isolated lending pools.

Each lending pool represents a pair of 2 tokens of a DEX. Lenders can supply tokens to any lending pool to earn passive yield without impermanent loss. Borrowers can deposit LP tokens in a lending pool to borrow tokens of the token pair. This enables borrowers to leverage their LP tokens and get even more LP tokens, allowing for leveraged yield farming and enhanced LP rewards.

Solidly Exchange

Solidly.exchange is a smart contract protocol in alpha stage of launch, and even though multiple security audits have been completed on the smart contracts.