Encoins — VyFinance: New partnership in town

2 min readAug 14, 2023

We’re thrilled to announce our partnership with VyFinance, one of the most important Dexes in the Cardano ecosystem. This partnership is part of the efforts that Encoins is doing to ensure that $ENCS token has liquidity, in order to reduce price impact when trading large orders. Our aim is to establish a smoother experience for the Cardano community engaging with Encoins and increase its adoption.

The following proposal was approved by 91% of positive votes in our DAO:

Farming Incentives — Allocation: 70,000 $ENCS

The amount of $ENCS starts at low quantities and increase as liquidity increases. With 70,000 $ENCS we will have enough tokens for more than 1 year of farming rewards, bootstrapping a high liquidity.

Stake $ENCS, earn $ENCS + $VYFI — Allocation: 20,000 $ENCS

This program aims to compensate our holders. It will end when the available tokens are distributed, or when the protocol is launched on mainnet, whichever comes first. In addition, the VYFI team also gives us a certain number of tokens to distribute among all those who participate in this program.

Stake $VYFI, earn $ENCS — Allocation: 10,000 $ENCS

This program aims to unite both communities, trying to attract users from VYFI to Encoins. Just as they will give us $VYFI for the aforementioned program, it is fair that we give something to their community. In addition to all the above, both teams are committed to working side by side to integrate VYFI into the different solutions that Encoins will offer both in its V1 and its V2.

Total program allocation: 100,000 $ENCS.

Beyond these initiatives, the partnership between Encoins and VyFi extends to a broader collaboration and integration, we’ll keep you updated!

Stay tuned for more news!

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