SolFarm Adds New Fusion Vault, Sorting Feature

The yield aggregation platform continues to defy the odds and make a statement in the Solana ecosystem with their consistent upgrades.

By
Utulu Hope
on
June 1, 2021
Category:
Breaking News

Curtain-Raiser

SolFarm has added ALEPH’s Fusion vault to its yield aggregator. The Solana-based platform announced the new development via Twitter on the 31st of May, 2021. Currently the vault will not have $TULIP rewards because of the current fixed inflation schedule, although there is a possibility of the rewards being available at a later date. SolFarm has also added a sorting feature to its website. Users can now sort by Deposits, Annual Percentage Yield (APY), and Total Value Locked (TVL). 


SolFarm Adds Sorting Feature 

As part of the addition of AlEPH-USDC LP to its growing list of supported vaults, SolFarm has made its website easier to navigate. Users can now check vaults’ deposits, APYs, and TVL from highest to lowest or vice versa. In essence, when the “vault ”icon on the left corner is clicked, the page displays vaults’ TVL from top to bottom or the other way round. Similarly, on clicking the “Yearly APY,” the vaults will show from highest to lowest APY. This makes it very easy for users to browse through vaults according to the specific details they are interested in. 


SolFarm Vaults 

SolFarm currently supports the following vaults: 

  • RAY-USDT LP 
  • RAY-USDC LP
  • RAY-SRM LP
  • RAY-SOL LP
  • RAY-ETH LP
  • STEP-USDC LP
  • MEDIA-USDC LP
  • COPE-USDC LP
  • MER-USDC LP
  • ROPE-USDC LP
  • FIDA-RAY LP
  • OXY-RAY LP
  • MAPS-RAY LP
  • KIN-RAY LP
  • ALEPH-USDC LP (Newly Added)

FIDA-RAY, OXY-RAY, MAPS-RAY, and KIN-RAY are double yield pools. Users can deposit their LP tokens into any of the above-listed vaults, and rewards will be harvested automatically. The SolFarm team constantly monitors the decentralized finance (DeFi) space on Solana and will implement more vaults shortly. 

Source: Vaults on SolFarm

Like yield aggregation protocols on the Binance Smart Chain (BSC), Solana-based SolFarm offers huge amounts of APY on certain vaults. For instance, STEP-USDC LP on SolFarm has an APY of up to 15,600%. The new sort feature also places the platform in a similar capacity as its competitors, adding to the appeal of the protocol.


Closing Thoughts

The addition of ALEPH to its growing list of supported vaults indicates that the yield aggregation protocol is constantly looking to expand in terms of vault offerings. As of this writing, SolFarm has a TVL of $127.62M, which is massive for a project that is under six months old. The goal is to keep expanding and adding new vaults and judging by the current situation, immense growth is inevitable for SolFarm and of course, Solana. 


About SolFarm

Source

SolFarm is the first yield aggregation platform built on Solana with auto-compounding vault strategies. The decentralized application (dApp) is designed to leverage Solana’s low-cost, high-efficiency blockchain, ensuring that vault strategies compound frequently. Stakers benefit from high APYs without the need for active management, making SolFarm a highly-desirable investment platform for users with less time on their hands.

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Utulu Hope

UC Hope is a passionate fan of crypto who could weave the latest event into sparks of inspiration and information. He leaves no stone unturned to get to the core of a story. Aside from writing, he spends his hours poring over algorithms and protocols, preparing for a future career as a computer programmer.