High APY farms that provide liquidity to the Pangolin exchange.
High APYs on your favorite token pairs while supporting the Avalanche ecosystem with additional liquidity.
Penguin Igloos are the first layer-2 yield farms on Avalanche. These farms allow users to earn PEFI and DEX rewards simultaneously, you simply have to stake your Liquidity Provider (LP) tokens. Many popular token pairs are available on the platform to choose from, such as AVAX-PEFI and AVAX-ETH. By staking LP tokens, you're supporting Pangolin, Trader Joe, Lydia, and other exchanges by providing liquidity, all whilst earning bonus rewards in addition to the original DEX incentives. Check out our How to Use Igloos step-by-step guide to get started with farming.
Thanks to our new reward system, we can ensure most farms that are listed on Penguin Finance will have higher APRs than its counterpart on the biggest Avalanche DEXs.
Since we’re not a DEX, we’re not limited to provide incentives towards liquidity pools of one exchange specifically. You can benefit from the best farms throughout different exchanges on Avalanche and earn their reward tokens whilst farming PEFI simultaneously.
To better illustrate how this works, here’s an example:
Suppose you stake AVAX-ETH.e LP tokens from Pangolin into one of our new Igloos V2. The new Penguin contract then takes your LP tokens and stakes them in the AVAX-ETH.e pool over at Pangolin to earn PNG rewards, and then double-dips those LP tokens on our Igloo to grant you PEFI incentives for providing liquidity. This allows users to earn 100% of what they would on Pangolin, while also earning PEFI on top of that. To spice things up, even more, Penguins are able to auto-nest their rewards to earn PEFI, iPEFI, and PNG simultaneously.
5-10% of non-PEFI rewards are collected as performance fees, depending on the pool. This doesn't affect any PEFI/iPEFI rewards and will not conflict with your Auto-Nesting strategies.
Auto-nesting allows users to choose what percentage of their PEFI rewards are automatically converted to iPEFI. There’s no longer a need to be harvesting and staking into the Nest manually; our new contract will automate the process for you.
Each Penguin can customize their Auto-Nesting at will. The default amount set for every Igloo is 50% of PEFI rewards converted to iPEFI, but you can shift this all the way up to 100% to maximize your yield (or down to 0% for the bird brains out there).
Once you've begun staking LP tokens, your iPEFI will start to accumulate. When you harvest it, it will be sent to your wallet and can be viewed on the Nest page.