What is WanFarm?

By tokenization | Cryptopost | 10 Mar 2021


WanFarm is a pledge mining DeFi application initiated by the Wanchain team and deployed on Ethereum.

WanFarm application, which aims to promote a series of mainstream public chain cross-chain tokens such as wanBTC, wanDOT, wanXRP, wanEOS, wanTRX, etc., can be cross-chain converged on Ethereum, which is the AMM DEX application on Ethereum (such as UniSwap, SushiSwap, etc.) Contribute sufficient liquidity to access richer deposit and loan currencies for lending applications (such as Compound, Curve, etc.), allowing cross-chain assets to form a scale effect in the huge and rich Ethereum ecosystem.

At the same time, the increase in the activity of cross-chain assets on Ethereum can in turn further accelerate the construction of Wanchain's cross-chain bridge. Driven by economic interests, the cross-chain node Storeman will continue to broaden the bridge (that is, increase the pledge deposit to ensure a higher amount). The degree of asset cross-chain), a new cross-chain bridge (that is, the integration of Ethereum with the new cross-chain public chain, so that more new assets will be crossed to Ethereum). Therefore, Wanchain's cross-chain mechanism and DeFi applications will develop simultaneously and complement each other.
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Mining reward WAN start time: Ethereum block height 11,837,258 (approximately 4 o'clock in the morning on February 12, Beijing time)

Visit link: farm.wanchain.org

Mining mode : WanFarm+SushiSwap dual mining mode (WanFarm's revenue WAN its opened on February 12, and SushiSwap's revenue will be opened in the near future)

Mining currency pairs: WAN-USDT currency pair, WASP-USDT currency pair

Participation method: Pledge mining through WAN-USDT SLP or WASP-USDT SLP

Reward amount: WAN-USDT SLP pool 30 days reward 40,000WAN , WASP-USDT SLP pool 30 days reward 10,000WAN . Due to the dual mining mechanism, there will be a reward of Sushi tokens in the future.

Reward provider: WAN rewards are provided by Wanchain Foundation, and future Sushi rewards will be provided by SushiSwap platform. Subsequent consideration is to transfer the project to community operation and maintenance.

Wallets involved in asset cross-chain: MetaMask, wanBridge Web (This product is used to cross WAN and wanTokens from Wanchain to Ethereum)

WanFarm's contract address on SushiSwap:

WAN-USDT currency pair contract:

https://www.sushiswap.fi/pair/0x18c12a654f982f68a91e8e6a4170ca1fcb9d60a2

* WASP-USDT currency pair contract:

https://www.sushiswap.fi/pair/0xc2019e004c7c7cbfbb1befbcb6389aa301fb32a8

Brief description of operation steps

Cross-chain operation. The combination of wanBridge Web+WanMask+MetaMask combines WAN and WASP from Wanchain to Ethereum. Users may also use Wanchain desktop wallet + MetaMask to cross-chain assets.

wanBridge Web: https://bridge.wanchain.org/

WanMask: https://wanmask.io/

MetaMask: https://metamask.io/

Generate LP credentials. On SushiSwap, provide liquidity for the WAN-USDT currency pair through the MetaMask wallet, and get the WAN-USDT LP token certificate; in the same way, you can also provide liquidity for the WASP-USDT currency pair and get the WASP-USDT LP token certificate .

SushiSwap: https://sushiswap.fi/

Pledge the LP certificate. On WanFarm, the WAN-USDT LP token certificate can be pledged to the WAN-USDT LP pool through the MetaMask wallet; the WASP-USDT LP token certificate can also be pledged to the WASP-USDT LP pool.

WanFarm: https://farm.wanchain.org/

Withdraw WAN rewards. Staking LP credentials can generate mining rewards WAN in real time, and the rewards can be withdrawn in real time. The WAN-USDT LP pool evenly distributes 40,000 WAN within 30 days, and the WASP-USDT LP pool evenly distributes 10,000 WAN within 30 days.

Withdraw Sushi rewards. When Sushi's mining rewards are activated, in addition to WAN rewards on WanFarm, users can also get Sushi rewards on SushiSwap every day.

Withdraw the pledged LP. The pledged WASP-USDT LP and WASP-USDT LP can be withdrawn from WanFarm at any time.

 

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