Avalanche, an open-source platform for deploying decentralized applications (dApps) and enterprise-grade blockchain initiatives, notes in a blog post that Lydia Finance, an Automated Market Maker (AMM), Yield Farming, and Staking platform, is live on Avalanche.
As mentioned in the announcement, their intuitive UI and comprehensive documentation/tutorials allow “every level of users” to make informed investments in the DeFi space while “maximizing their earnings by taking advantage of Avalanche’s lightning-fast infrastructure with very low gas costs.” The announcement also mentioned that users can trade, stake, pool, and earn $LYD and many other token utilities “all on Lydia Finance.”
As noted in the update, Avalanche is an open-source platform for deploying dApps and enterprise blockchain deployments via an interoperable, “highly-scalable” ecosystem. Avalanche can handle over 4,500 transactions/second and “instantly confirm” transactions. Ethereum (ETH) developers are able to quickly develop on Avalanche as Solidity “works out-of-the-box.”
Lydia Finance, an audited DeFi protocol and decentralized or non-custodial exchange (DEX), is currently running on the Avalanche blockchain.
As explained in the announcement:
“By running on Avalanche, Lydia Finance offers lightning-fast finalization, low gas fees, and a 100% decentralized platform. This allows for a smooth and intuitive user experience on the platform.”
The Lydia Finance platform provides two key features to users:
Earning and Trading.
- Trading: The DEX is an AMM that “allows users to trade using token pairs on Avalanche.”
- Earning: The Yield Farming feature “allows Avalanche users to provide liquidity to AMM pools and earn yield in LYD (Lydia Finance) tokens and others.” These tokens “can then be automatically converted into native platform tokens of your choice, such as AVAX (Avalanche).”
Lydia Finance noted:
“Our team aims to deliver the best financial features, and focuses on achieving the best user experience to bring new users to the Avalanche platform and grow with the ecosystem. Avalanche has the most promising EVM compatible platform to pick for a DeFi startup, that’s why we picked Avalanche as the platform. We believe that the collaboration with the Avalanche team will make an important positive impact on our project and strengthen the relationship.”
The Lydia Finance team will be announcing the launch of Initial Farm Offerings (IFOs), the release noted while adding that this will allow users “to invest in new projects using their AVAX/LYD LP tokens.” At present, this feature is “being tested and is estimated to launch in July 2021.”