Flurry Finance, a leader in cross-chain yield farming aggregation, has announced that it will launch an initial DEX offering (IDO) through the Cardano-based launchpad CardStarter. According to the firm through a press release, the IDO is scheduled on September 3, 2021, at 8:00 AM PST time. Notably, the whitelist registration is scheduled to begin as early as August 27.
“We are thrilled to be launching under the umbrella of CardStarter. Along with cardstarter’s trusted team, and the Cardano-based platform, Flurry will surely earn the momentum and the community support to lead the crypto asset management tools and pursue the mission of “DeFi for all” in our best endeavor,” noted Mike Ting, CEO of Flurry Finance.
Yield farming has emerged as a significant role player in the success of most Defi platforms. Furthermore, yield farming provides users with an alternative means to make a passive income while still holding on to digital assets.
Flurry Finance, backed by notable developers came in to help solve the issue with the scattered yield farming platforms. Additionally, the firm aims to help investors seeking to earn more through yield farming avoid lock-ups.
Launching through the Cardano-based launchpad is strategic by all means. Furthermore, the Cardano ecosystem has experienced notable growth in the past few months with its native token ADA making a new ATH.
“CardStarter is very proud, once again, to be a pioneer in the Cardano ecosystem bringing cutting edge innovation in decentralized finance to the industry. CardStarter is proud to launch this endeavor and would like to invite our community members to be a part of the project by participating in its upcoming IDO on our platform,” noted Aatash Amir, CardStarter CEO.
Notably, Flurry Finance has the rho token that is pegged 1:1 to the underlying stablecoin. Through the rho token, the firm can access the cross-chain Defi yield farming capabilities.
“The Flurry protocol features a novel rebasing mechanism which distributes generated interest to users in the form of rhoTokens (rhoUSDC, rhoUSDT & rhoBUSD), tokens backed by USDC, USDT, and BUSD stablecoins,” the company explained through the press release.
By providing its users with a chance to use the underlying assets and profit at any time, Flurry Finance anticipates to become a one stop yield farming aggregator.