Cryptocurrency News

Impermax Launches Farming Protocol on Avalanche Platform

Impermax has gone live on the yield farming platform of Avalanche in addition to being available on the IMX incentives that can be utilized for the pairs of Pangolin. Specifically, this means Yield farmers using the services of the Avalanche platform will be able to use LPs from Pangolin as collateral. This will help multiply the revenue coming from their position in the farming domain and provide them with additional incentives in terms of IMX. 

The integration of Impermax will manifest its utility by providing Avalanche users with a variety of tokens that can be used for lending. The options already available in this token domain include AVAX, ETH, USDT, IMX, PNG, and WBTC. 

As one of the prominent decentralized exchanges, Pangolin (from the house of Avalanche) has carved a distinctive place for itself in the segment. PNG can be farmed on the platform (in terms of different pairs) for liquidity providers, which is a very useful feature from the utility perspective.  Further enhancing the convenience is the addition of Impermax to enhance the overall returns associated with the LP tokens. 

All these features will come together to make an ecosystem that will encourage potential users to enter the cryptocurrency domain. This will also have positive implications for decentralized finance as this will help this emerging segment grow at an enviable pace. 

It will be interesting to witness how this new association pans out in the future and what specific benefits it brings to the table. Such collaborations in the crypto domain foster growth in the segment of decentralized finance.

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