Loopfi Launch Plan

Published on: 16.07.2022
Loopfi Launch Plan

Loopfi Launch Plan Announcement

Loopfi Launch Plan. Loopfi will be officially launched on Arbitrum with liquidity mining starting from 2:00am (UTC+0), 20 July, 2022.

Loopfi is a non-custodial platform built on top of DeFi protocols featuring the veToken model. It provides a seamless onboarding process to veToken staking from layer2 with much cheaper gas costs, allowing users to keep a liquid position while enjoying boosted staking yield and voting power. Read more about Loopfi in this article.

Stake through Loopfi to earn more

The first DeFi protocol we support is dForce, who launched their veDF tokens earlier this year.

For DF holders, Loopfi makes it easy for them to stake from Arbitrum in exchange for pDF (a tokenized wrapper of veDF) that represents DF token locked up for 4 years (maximum time) in VotingEscrow.

Simply put, the mechanism will work in the following manner:

  1. Users deposit DF tokens to Loopfi;
  2. Users receive pDF tokens in return;
  3. Users stake pDF tokens to unlock access to dForce staking rewards and LPF ewards (step 1~3 will be wrapped into a one-click action for end users);
  4. Under the hood, Loopfi will:
  • bridge pooled DF tokens from Arbitrum to Ethereum;
  • lock up DF tokens in exchange for veDF;
  • bridge DF rewards back to Arbitrum upon request;

5. Users can redeem pDF for DF on supported DEXes.

Loopfi Liquidity Mining

Loopfi liquidity mining will kick start from 2:00am (UTC+0), 20 July, 2022 on Arbitrum with the following schedule:

  • Stake pDF to receive LPF (136,986 LPF/day for the first year)
  • Provide liquidity for LPF/USX on SushiSwap (24,657 LPF/day)
  • Provide liquidity for pDF/DF on Curve (16,438 LPF/day)

Please do remember to stake your pDF and LP tokens in order to receive DF rewards and LPF rewards!

About Loopfi

Loopfi a general liquidity solution for escrowed DeFi governance tokens (i.e., veDF, a tokenized version of dForce governance token participating in lock-up staking) holders.

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