Following our integration of Ferro Protocol and its liquidity pools in June, users can now further boost their FER token rewards by using xFER Vault.
What is xFER Vault?
xFER is the yield-bearing token of the Ferro Protocol. Ferro itself is the first stablecoin-only swap protocol on Cronos, optimised to bring users the best rates to swap stablecoins and pegged assets. Because of its low gas usage and traffic efficiency of its token swap mechanism, users enjoy lower fees and slippages when they swap their stablecoins. More details are available in their litepaper.
How to boost earnings via xFER Vault?
There are two ways to receive xFER and further boost FER earnings via the xFER Vault.
1/ Stake FER and receive xFER at the prevailing exchange rate, here’s how:
2/ Provide stablecoin swap liquidity to earn xFER and FER in a set ratio. Here’s how:
- Go to Earn in the Crypto.com DeFi Wallet, select USDC and determine a deposit amount. This is the liquidity that will be supplied to the pool. Users will see their earnings in FER and xFER (with lockup). Read our announcement here for additional details.
- After xFER unlocks, deposit xFER directly via DeFi Earn.
For additional details, refer to the FAQs on the Ferro Protocol.
We are working hard to integrate even more of Ferro Protocol’s features to help users grow their stablecoin assets. Stay tuned!
Ferro is a ‘StableSwap’ automated market maker (AMM) protocol with deep liquidity that aims to provide safe and efficient trades of pegged assets, with the spirit to solidify the Cronos ecosystem.
Ferro’s stable curve pool offers a wide array of utility. It also allows for better composability between protocols in Cronos. Lastly, it creates a more effective way to access stablecoins and other highly correlated assets with lower fees, lower slippages, lower impermanent loss, and better utilisation of liquidity pools. Learn more here.
Cronos is the first Cosmos EVM chain for DeFi, NFTs, and the Metaverse. It aims to massively scale the DeFi and decentralised application (DApp) ecosystem by providing developers with the ability to instantly port apps from Ethereum and EVM-compatible chains. With low cost, high throughput, fast finality, and built-in interoperability, Cronos is poised to bring DApps to the 50M+ user base of the Crypto.com ecosystem and beyond. Learn more here.