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The WEYU Raydium Pool is live, pioneering ecosystem farms

- Article created: 12th Jul 2022

Who likes to Farm? You!? Well then, get your WEYU ready and your overalls and straw hat on because the most advanced and robust Defi Farm has arrived on the WEYU platform. Yes, our Raydium Pool is officially open!


Start Farming here:

https://rewards.weyu.io/


Alongside the recently released WEYU Staking Protocol, which you can find out more about here, the introduction of the WEYU Raydium pool is the next significant component of the WEYU Rewards program - an initiative designed to bring as much benefit to the community as possible. Furthermore, we partnered with leading exchange Raydium to be one of the first projects ever to explore ecosystem farms, which we can’t wait to share more about. Across two blog pieces, we will be exploring what Raydium is, how it works and how to utilize the pool for your advantage (across a dedicated tutorial). To begin, let's take a look at who Raydium is, and the importance of yield farming. 


What is Raydium?


Raydium is a decentralized, automated market maker (AMM) built on the Solana blockchain. Leveraging the central order book of the Serum decentralized exchange (DEX), shared liquidity and lighting-fast trades are enabled, while also allowing people to engage in staking and farming. The Raydium platform is currently the number one decentralized exchange on the Solana network by active users and volume, which is one reason WEYU chose to establish a pool here. 


Explore Raydium here:

https://raydium.io/

 

What are Liquidity pools and yield farming? 

 

Liquidity pools are a central piece of the technology behind Defi. In essence, they are a digital collection of cryptocurrencies locked in a smart contract, which enables decentralized trading, lending, yield generation, and much more. Yield farming relies on automated market makers, such as Raydium, to enable users to earn passive income by depositing crypto into a liquidity pool. You are able to earn trading fees in proportion to your share in the pool, and in addition, are able to claim rewards calculated as APY. Historically, liquidity pools were only available on the Ethereum network, but thanks to the growing popularity of the Solana blockchain, yield farming is no longer reserved for investors choosing to use Ethereum-based services. So, are you ready to earn passive income? 


The WEYU Raydium pool and ecosystem farm


We are super excited to have been one of the first projects to be launched on Raydium’s new ecosystem farm program. From this moment you can add liquidity to the WEYU<>USDC pool on Raydium. In exchange, you can stake your LP tokens in the WEYU Farm and start farming WEYU + WEDAO at a high yield introductory 30 days. 


If you are not fully familiar with Defi, yield farms, liquidity pools and staking, please check out a great informational guide here:

https://www.defipulse.com/blog/what-is-yield-farming-a-beginners-guide-to-passive-income-in-defi


Your benefits to Farm


By adding liquidity to our WEYU token, a healthy environment for larger traders and users is stimulated on the platform. Our Raydium pool enables you to pool USDC and WEYU on the Solana blockchain and receive HIGH Yields. Again, with this option, you don’t only earn WE-DAO tokens but you will also receive up to 600% APR as an introductory offer. There will be many incentives and other tokens added to reward liquidity providers to participate.


Start Farming here:

https://rewards.weyu.io/


As we mentioned earlier, next up we will be sharing a detailed tutorial with information on exactly how you can participate in the WEYU Raydium pool so that you can start farming right away. So, once again, ready your tokens and your fertilizers because farming season is here!


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