Superlend and Etherlink Are Launching Apple Farm, an On-Chain Incentive Platform

Superlend and Etherlink are preparing to launch Apple Farm, an on-chain incentive platform set to distribute $3 million in rewards during its first season.

Superlend and Etherlink are joining forces to launch Apple Farm, an on-chain incentive platform. The platform is set to distribute $3 million in rewards during its first season, and more than 40,000 users have already signed up for the waitlist.

Those who join the waitlist prior to launch will receive an additional rewards boost. Apple Farm operates on an EVM-compatible layer 2 network supported by Tezos smart rollups, ensuring low transaction costs and short confirmation times.

Apple Farm will reward participants for supplying liquidity, lending assets, and trading on a core set of DeFi protocols. These protocols and their earning opportunities include:

* Balancer: Balancer liquidity providers will be rewarded in the respective tokens of the liquidity pools they contribute to.

* BENQI: Users who lend assets on BENQI will earn interest in the form of the protocol’s native token, BENQI.

* dRAGON: Traders who actively participate in dRAGON’s yield optimization protocols will be eligible for rewards.

* Etherlink: Users who trade on Etherlink’s layer 2 exchange will earn a portion of the exchange’s trading fees.

* Superlend: Those who borrow or lend crypto assets via Superlend will benefit from the platform’s lending and borrowing programs.

Additional earning opportunities are expected to be announced at launch, and there is potential for new DeFi protocols to be added over time. Etherlink is also planning to introduce near-instant, trustless withdrawals from its layer 2 to the Tezos L1, which may further simplify movement of assets between layers.

Recently, Etherlink announced that users can now deposit and withdraw XTZ on Etherlink via Gate.io. Creditors can also claim their bankrupt Mango claims in the Apple Farm UI on launch.

Superlend, one of the focal points of Apple Farm, describes itself as a cross-chain lending and borrowing aggregator. It provides users with a unified interface to compare rates and manage positions across multiple protocols.

The service aims to enhance user experience by offering features such as historical rate analytics, same-chain debt position optimization, and access to various DeFi strategies. It will also integrate with major wallets like Metamask and offer users the ability to adjust their preferred slippage tolerance for optimal trades.

Both Superlend and Etherlink have teams experienced in DeFi, traditional finance, and technology development, having worked on a range of blockchain ventures. Their goal is to create a more streamlined environment for users looking to explore on-chain lending, trading, and earning opportunities.

For further details on Apple Farm and to join the waitlist, individuals can visit the official websites of both Superlend and Etherlink. By signing up early, participants may gain a head start in collecting rewards once Apple Farm is live and distributing its first wave of incentives.