Hermes DeFi partners with Algebra Finance on Polygon

Hermes DeFi is extremely pleased to announce partnership with Algebra Finance, a next-generation DEX on the Polygon blockchain. This strategic liquidity movement is meant to benefit their ecosystem by enabling more efficient trades of the $IRIS token on Polygon.

In this partnership, Hermes is seeding liquidity of an $IRIS/$ONE LP pair on alegbra.finance. With this, they are bringing two new tokens to Algebra’s exchange. We believe that as the Harmony ecosystem continues to expand, there will be increased demand for $ONE trades on Polygon. By expanding to this new partner and pairing $ONE with $IRIS, we foresee that $IRIS holders will be able to earn steady returns from trading fees by being the highest liquidity pair to this token. The $IRIS/$ONE pair on Algebra is already live and eligible to trade!

To help reward initial liquidity providers, Hermes and Algebra are providing $16,000 worth of rewards (est. 400% APR at $100K liquidity) in $IRIS and $ALGB tokens in a ‘infinite farming’ farm on Algebra starting on February 7th at 3PM UTC. This means:

• Investors can enter and exit the reward farm at any time.
• Collect rewards without leaving the farm.
• Rewards are distributed every block.
• Liquidity isn’t locked during the duration of the farm.

Additionally, Algebra and Hermes are running a few giveaways related to this new farm! Join our Discord servers (Algebra, Hermes) to be notified when they go live!

SOURCE: https://medium.com/@HermesDefi/hermes-defi-partners-with-algebra-finance-on-polygon-6adffd8af7d6