Blockchain News

Orkan-FTM Vault Launched on Beefy Finance with 1030% APY

Currently, the liquidity pool is set at 7.59728 $FTM per $ORK with a TVL of $20,681 and an APY of 794.49%.

Boost for Orkan

Beefy Finance introduced their new $ORK-$FTM Vault in their launch pool, which comes with a mouthwatering 1030% Annual Percentage Yield (APY).

Users can earn $ORK-$FTM liquidity tokens by providing liquidity to the ORK-FTM pool, which is currently fixed at 7.59728 $FTM per $ORK. At the time of writing, the liquidity pool has a Total Volume Locked (TVL) of $20,681 and an APY of 794.49%. Moreover, Beefy launched the first 4pool boost on the same day, where users can deposit their mooTokens and earn $ORKAN tokens at 70% boosted APY.  Earlier, Beefy Finance announced the 4pool with the tokens UST/FRAX/fUSDT/USDC at 23% APY. 

The Strudel DAO explains in a February 17 Medium article that Orkan ($ORK) is a meta-governance protocol from Strudel DAO that focuses on bootstrapping liquidity flow on the Fantom Opera blockchain. Orkan issues bonds to acquire governance tokens from projects that use liquidity gauges and lock mechanisms for exchange incentives. Utilizing a portion of the voting power acquired by the Orkan, the protocol seeks to enable deep liquidity within Fantom, as well as the use of wrapped BTC assets. 

Orkan has created the FTM-ORK bond to ensure a healthy market for their farmers and bondholders, allowing them to profit more over time. Orkan's current price is $7.27 with a 24-hour trading volume over $31k. 

Source

Lately, there has been a lot of activity at Beefy Finance since the company is constantly launching new vaults with impressive APYs. At present, the GEL-USDC and USDB-DAI vaults are live, offering APYs of 45% and 18%, respectively. In addition, Beefy Finance has also partnered with Stader Labs to launch the sFTMx-FTM vault with 31% APY.

What is Beefy Finance:

Beefy Finance is a cross-chain yield farming aggregator on Binance Smart Chain, HECO, Polygon, Fantom, and Avalanche blockchain. It helps investors grow their crops automatically through its automated vault strategies.

Where to find Beefy Finance:

Website | Telegram | Twitter | Medium |

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