In the wake of the rising popularity of the Defi industry, Crow Finance has announced the release of Ellipsis vaults that helps users enjoy the benefits of stablecoin yield farming.
Ellipses Stable Vault
Users can now compound their Ellipses LP positions automatically using the Crow Finance yield farming aggregator. The vaults use smart contracts to execute strategies, making them a passive investment avenue. These vaults create a seamless yield farming process by automatically compounding the most attractive yields.
Why Use Ellipsis?
Crow Finance is using Ellipsis.finance so that their users can swap stablecoins with little fees and low slippage. They are an authorized fork of Curve Finance and have agreed to distribute 25% of supply to veCRV holders over the next 12 months. The Ellipsis token (EPS) receives revenue and allows stakers to earn transaction fees from the exchange. However, EPS stakers and liquidity providers will have to share the trading fees equally.
What’s Unique About Crow Finance?
This DEX attempts to maximize user satisfaction by providing an upgrade to features from successful platforms like Jetfuel, Thugs, and Fryworld. It has a novel dual burn mechanism that combats the CROW token inflation. known as $CROW. Crow Finance also revealed a new addition to their product line called $TALON. $TALON and $CROW are equal; TALON holders who stake in pools of other partner projects can earn tokens from these projects. Currently, Crow Finance’s total value locked has exceeded $10 million (a new milestone that was set three days ago) and will continue to rise. As we all know, the higher the total value locked, the more the potential for growth of any Defi protocol.
Updates on $CROW
This DEX’s team continues to execute various marketing campaigns (including the use of influencers and partners) to boost awareness for $CROW and attract new users.
There are plans by the team to have an ask-me-anything session with the community members to make the $CROW platform better.
What the $CROW Team has Accomplished
Apart from recently releasing the ellipses stable vaults, the $CROW has also ensured that:
LP token stakers can be rewarded with $CROW
$CROW stakers can also earn TALONs
All audits have been completed.
Apart from incorporating vaults into their protocol and despite being an established AMM, Crow Finance continues to modernize current AMM models to make it a force within the Defi ecosystem.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.