Veno Garden: Unlocking the Full Potential of Veno Finance
Veno Garden is the latest addition to Veno Finance. Users can now grow their yield from LCRO and VNO! Those who provide liquidity for LCRO and VNO in their partner protocols can plant their liquidity tokens into the Veno garden. And with the Garden, providing liquidity has never been easier. And anyone having locked VNO in the fountain or reservoir are in for a treat.
The Garden update on Veno Finance helps users to support the Veno ecosystem and earn VNO rewards from it. Rewarding VNO lockers with boosted yields.
What is Veno Garden?
Veno Garden is a new addition to Veno Finance. The goal of Veno Garden is to enable Veno Users to participate in the Veno ecosystem in an easy and user-friendly manner. Allowing them to earn more rewards from using LCRO and VNO.
Users will be able to deploy their LCRO and VNO in their partner protocols, directly from the Veno App. They can earn additional rewards by planting their LP in the Veno Garden. Users who lock VNO in the Fountain or Reservoir receive a watering boost on their Garden earnings. Providing additional rewards to VNO lockers.
In a later update, users can employ helpers to grow their gardens even further. Increasing their yield by staking NFTs.
How does it work?
Under the Veno Garden, users deposit their liquidity tokens in the corresponding Garden to earn VNO. The VNO yield is based on the user share of the total amount of liquidity of tokens planted in the respective garden.
For example, a user can provide liquidity for LCRO-CRO on Ferro Protocol and the user will deposit liquidity provider token LCRO-CRO-LP into the Ferro Garden. By doing so, the user earns VNO rewards.
To increase the yield that can be harvested from the garden, users can water it. Watering is done by locking VNO in the Fountain or Reservoir. The more VNO locked, and the longer the period, the larger the watering boost a user receives on all their gardens. The goal here is to reward long-term holders.
Helpers (coming soon)
In each Garden, users can employ up to 5 helpers. Meaning, they can stake up to 5 NFTs in a garden. As each helper is tending to the planted tokens, the garden grows and the yield increases. The amount of boost depends on the rarity of the staked NFT. This new boost will be added later.
The combination of liquidity incentives with VNO locking ensures that VNO holders are aligned with the long-term success of the protocol. Users who provide liquidity for Veno are rewarded in VNO. A large portion of these VNO rewards will be locked again in the Fountain or Reservoir, depending on the choice of the user. Deterring opportunistic liquidity providers and rewarding those who are in it for the long run. Likewise, users who have already locked their VNO can look forward to earning boosted rewards from their liquidity tokens.
This is just the beginning! As they build up the Veno Ecosystem, more gardens will be coming, and they love to hear your guess on the “Mystery Garden”.
Its mission for Veno Finance is to provide users with a one-stop solution for staking their $CRO, earning the highest staking yield and allowing for immediate liquidity on their holdings without the hassle of traditional staking methods.
Veno Garden is another milestone that brings them closer to fulfilling this mission.