Farmix allows users to utilize leverage when opening farm tokens on TON DEXs, thereby increasing user rewards by a multiple
In the TON ecosystem, liquidity providers and farmers enjoy high yield percentages ranging from 30 to 500% APY. ** With Farmix, liquidity providers can increase their yields by 2 to 2.5 times.**
The Farmix protocol operates as follows:
- On one side, there are stakers - users who lend their tokens by staking them in Farmix pools.
- Only tokens with high liquidity on DEXs can be staked on Farmix. For example, TON, USDT, NOT, SCALE, STON.
- On the other side, the protocol involves farmers who take stakers' deposits with leverage up to 3x. Meanwhile, farmers place collateral in the form of TON, USDT, or other tokens available in the protocol.
- To avoid the emergence of bad debt (when farmers cannot cover the debt on the deposits), an oracle intervenes to liquidate the farmer's position if the token price falls below the margin call.
Farmix protocol earns each time a farmer closes a position and takes a 40% protocol fee, which goes towards:
- 50% payment to liquidity providers
- 30% for buying back and burning the protocol token $FARM
- 12.5% to the protocol vault
- 7.5% to the team.
The goals of Farmix are:
- increase TON TVL by $10M by the end of 2024
- 100,000 MAU Q4 2024
TMA link: https://t.me/farmixTonbot
Video presentation: