DAFI and Polygen Partnership

Polygen want to give the its community even more benefits and the most frequent request is the ability to stake on our platform. So they partnered with DAFI to give you just that — for all project tokens listed on Polygen.

Polygen will be working with DAFI to give our users access to their dToken reward mechanism. This cool feature supports Polygen users to keep hold of their project tokens. Rather than utilizing traditional APY mechanisms, they set up pools with realistic business goals and by staking your tokens and helping them meet the goals, they all benefit.

How does it work?

DAFI will be creating Polygen, multiple staking pools. These pools are built using ‘demand pegged algorithms’ which means rather than locking in your tokens for a time period i.e 30 days, you lock in until a goal is reached i.e the price of a project token is $1. So when you buy into a pool you will be given a set APY. When the goal is reached (with the help of you and the community) then the pool will be ‘unlocked’ and rewards plus yield will be distributed.

“We are very excited to be partnering with Dafi, who will play a huge role in maintaining our relationship with our community through their staking program. Staking is a critical element for the success of a launchpad, as it incentivizes users with rewards for staying loyal to a project. $PGEN is our native utility token and one of its core utilities is that it can be staked on our platform to unlock various access rights for our users.”

– Mike Hepburn, CEO of Polygen

Zain Rana, Founder at DAFI Protocol said,

“Our partnership with Polygen is vital for the blockchain industry as a whole. For the first time, protocol founders will have the opportunity to synchronize the relationship between token reward distribution methods and the self-healing capabilities of the network. While Polygen gives entrepreneurs and developers a stage to fund their projects, we give them the tools to build a sustainable rewards economic engine from the get-go.”

About DAFI

DAFI reinvents how every decentralized network is rewarded. By creating synthetics pegged to different decentralized networks, every blockchain and cryptocurrency can create a dToken flavor to reward their early users while still enhancing scarcity when demand is low.

📰 INFO 

https://medium.com/@polygen/dafi-x-polygen-partnership-6f4c67acf3db