ShapeShift is introducing their new Evergreen FOX farm, a new smart contract that simplifies liquidity provisioning and eliminates the need for constant migrations between incentivized rounds. Additionally, rewards can be topped up at any time by the DAO to further incentivize liquidity past the standard 6-month plans. Historically, liquidity providers had to manually migrate their positions when liquidity farms were updated, often due to changes in protocol versions like Uniswap.
Evergreen removes this burden by allowing ShapeShift to continuously improve its incentive programs without requiring LPs to move their liquidity.
How Evergreen Works
The Evergreen contract allows ShapeShift to renew liquidity incentive programs without requiring any action from liquidity providers. Instead of launching new smart contracts for each farm update, ShapeShift can deploy new reward structures and programs within the same contract. This ensures that LPs can continue earning rewards in their existing positions, even as new farms and liquidity incentives are introduced. For ShapeShift, Evergreen provides a key advantage in attracting and retaining liquidity.
A Long-Term Solution
Evergreen is a key part of ShapeShift’s long-term strategy for liquidity farming. It removes the hassle of frequent contract updates, enables continuous program renewals, and enhances the overall user experience. This new approach ensures that liquidity providers can confidently participate in ShapeShift’s ecosystem, knowing they can earn rewards in a more stable and consistent manner.
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Learn More
https://medium.com/@ShapeShift.com
https://snapshot.org/#/shapeshiftdao.eth
https://warpcast.com/shapeshift