This has been long overdue, as liquidity providers on Curve had previously no avenue to trade their earned LDO rewards. This partnership trifecta made up of the largest protocols on Moonbeam would allow users to trade LDO as well as auto-compound their LDO liquidity.

The LDO farm will be live on StellaSwap on 22 Aug, 14:00 UTC.

State of LDO on Moonbeam

At the start of June, Lido finance announced the launch of their stDOT-DOT farm on Moonbeam via Curve. Liquidity providers who staked in their pool would earn LDO, the native token of Lido.

Since then, users who’ve earned LDO rewards couldn’t really trade or do anything since an LDO farm didn’t exist.

Here’s a breakdown of LDO on Moonbeam

• Current LDO Supply on Moonbeam: 314,455 LDO (~$600k)
• No. of LDO Holders on Moonbeam: 585 Addresses

The absence of an LDO farm meant that LDO holders on Moonbeam are forced to bridge their LDO token away from Moonbeam or just hold on to it without doing anything.

StellaSwap has been closely working with Beefy and Lido to facilitate LDO trading on Moonbeam. As the largest DEX on Moonbeam, StellaSwap is proud to be able to work with them in actualizing a highly-awaited farm.

The scope of this trilateral partnership manifests in the following way

1. LDO farm launch on StellaSwap
2. Launch of automated LDO farm (StellaSwap LP) on Beefy

Launch of LDO Farm on StellaSwap

StellaSwap will launch a standard LDO farm, with Lido and Beefy providing initial liquidity of $10,000 into the farm. Additionally, Lido will provide an initial $5,000 worth of LDO incentives to attract users to stake into the farm.

Here are the details of the farm:

• Farm Launch: LDO— GLMR
• Farm Type: Dual-Rewards
• Reward Token: STELLA + LDO
• Launch Date: 22 August| 14:00 UTC

Auto-Compounding LDO Farm on Beefy

Shortly after the LDO farm on StellaSwap, Beefy will launch the LDO farm to allow users to auto-compound their rewards into their LP. Beefy will launch the LDO farm using StellaSwap’s LDO LP. Instead of manually compounding their rewards, Beefy provides an automated way for users to optimize their returns.

ABOUT StellaSwap

StellaSwap is the first and leading Moonbeam DEX that offers an integrated gateway to the DeFi world. Users can swap, earn, yield farm, bridge assets, explore new projects, and engage in NFT trading all from a single unified platform. StellaSwap’s products are structured in such a way that facilitates decentralized governance of STELLA holders while continuing to innovate on the collective foundations by design.

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ABOUT LIDO Finance

Lido is a liquid staking solution for ETH backed by industry-leading staking providers. Lido lets users stake their ETH – without locking assets or maintaining infrastructure – whilst participating in on-chain activities, e.g. lending.

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RESOURCES

Medium

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Beefy Finance is a decentralized, multi-chain yield optimizer built on BNB Chain that allows users to earn compound interest on their digital assets through various investment strategies and features. At the time of writing, the platform supports 16 blockchains and has $321M+ in TVL (Total Value Locked).

Auto-Compounding: Liquidity Providing

Users can deposit their BNB on Beefy Finance where 50% is instantly converted into stkBNB. Then used to provide liquidity to PancakeSwap stkBNB/BNB farm. The protocol automatically sells earned rewards and reinvests them into the same pool to auto-compound.

This entire process is executed with a single transaction through the platform’s interface. This way, users can deposit and earn rewards by directly depositing BNB or stkBNB into Beefy’s vault, making everything smooth and seamless.

ABOUT pStake

pSTAKE is a liquid staking protocol that unlocks liquidity for your staked assets. With pSTAKE, you can securely stake your Proof-of-Stake (PoS) assets, participate in protocol improvements and security to earn staking rewards, and receive stake underlying representative tokens (stkASSETs) which can be use to explore additional yield opportunities across DeFi. At present, pSTAKE supports Binance (BNB), Cosmos (ATOM), Persistence (XPRT), and Ethereum (ETH) networks’ native tokens, with a view to supporting more chains and assets in the future (SOL, and AVAX).

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ABOUT Beefy Finance

Beefy is a decentralized, multi-chain yield optimizer that allows its users to earn compound interest on their crypto holdings. Beefy earns high APYs with safety and efficiency in mind. Through a set of investment strategies secured and enforced by smart contracts, Beefy automatically maximizes the user rewards from various liquidity pools (LPs). ‌Automated market-making (AMM) projects,‌ ‌and‌ ‌other yield‌ farming ‌opportunities in the DeFi ecosystem.

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RESOURCES

pStake Finance

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Optimism is an Ethereum Layer 2 blockchain that provides a scaling solution for DApps and transactions. It also uses optimistic rollups where multiple transactions are bundles and settle on the main Ethereum blockchain. As a result, each transaction is automatically assumed to be valid, streamlining the process.

Validators have a week to flag any rollup if they believe it contains invalid transactions. For the user, Optimism reduces gas fees and provides a quicker alternative than dealing directly with Ethereum.

How Optimism governance work

The Optimism Collective and Optimism Foundation work together in funding projects and public goods through Optimism’s governance mechanism. Holders of the ERC-20 OP token gain voting rights on proposals and the token will be airdrop to addresses that have engage in positive community behavior.

The Optimism Collective has two chambers: the Citizens’ House and the Token House. Members of the Citizens’ House have soulbound membership established by a non-transferable NFT. In addition, by becoming a member is determines by the Foundation and Token House (made up of OP token holders).

Beefy will start compounding five Beethoven-X LP vaults on Optimism.

How to bridge funds to Optimism

1. To stake in Beefy’s Optimism Vaults, you’ll need to either purchase Optimism tokens or use the Optimism Bridge. The Optimism Bridge works as an aggregator, combining multiple bridging services. This allows Optimism Bridge to offer the widest range of tokens for bridging if it can’t natively bridge the asset itself.
2. In the “From” section, you can choose the network and token you want to bridge. In this case, we’re bridging ether (ERC-20) to Optimism. Simply enter the amount you want to bridge and then confirm the swap.
3. For networks that Optimism doesn’t support, you’ll need to pick from an alternative bridge. You can see the options below for BNB Smart Chain bridging.

Why Beefy chose Optimism

Beefy considers a good amount of things before deploying on a new chain, and Optimism has a few traits that stand out in particular. The rollup has a strong orientation to build public goods, creating a thriving and valuable ecosystem. It’s also heavily governed by its users due to the OP airdrop that put the blockchain partly in their hands.

ABOUT Beefy Finance
Beefy Finance is a Decentralized, Multichain Yield Optimizer that allows its users to earn compound interest on their crypto holdings. Beefy earns you the highest APYs with safety and efficiency in mind.

Website | Twitter

ABOUT Optimism
Optimism is a low-cost and lightning-fast Ethereum L2 blockchain. The Optimism pledges to uphold the values of Ethereum by producing infrastructure that promotes the growth and sustainability of public goods.

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RESOURCES
Beefy Finance

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