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  • Writer's pictureImpermax Team

Impermax Brings Leveraged Yield Farming to Moonriver

Today, November 30th 2021 at 1pm UTC, Impermax is going live on Moonriver, launching leveraged yield farming for Solarbeam pairs. Yield farmers on Moonriver will be able to use their Solarbeam LPs as collateral on Impermax in order to leverage their LP positions. By doing this they can multiply the APR from their farming position.

Impermax will also enable the lending of a large variety of tokens on Moonriver, such as: MOVR, ETH, WBTC, IMX, MIM and many others.

IMX and MOVR Dual Farming Incentives

For the first time we are bringing dual farming incentives to Impermax. 800 MOVR tokens will be used for the initial rollout on Moonriver. These tokens will be distributed to Impermax users as a liquidity mining incentive in order to bootstrap liquidity on Moonriver during the first 30 days. As usual, farming incentives (IMX and MOVR) will be distributed to borrowers on Impermax.

The Moonbeam Foundation has generously provided these MOVR token incentives as part of their support for DeFi growth on the Moonriver ecosystem.

Notice: unlike IMX reward, the MOVR pending reward will be claimed automatically every time that you adjust your leverage. The MOVR reward will be distributed through the WMOVR token which you can unwrap on Solarbeam.

Using Impermax on Moonriver

If you want to start LYF on Moonriver right away you can access the Impermax’s Moonriver app at the following link:

IMX contract address on Moonriver: 0x900f1ec5819fa087d368877cd03b265bf1802667

Leveraged Yield Farming on Solarbeam

Solarbeam is Moonriver’s top DEX. If you are a liquidity provider, on Solarbeam you can farm SOLAR on a large variety of pairs. On Impermax, you will then be able to enhance your returns by using your Solarbeam LP tokens (SLP) as collateral to borrow tokens and leverage your position. In this case Impermax also acts as an autocompounder, so you will keep earning SOLAR tokens that are reinvested in your LP balance when you are using your LP tokens as collateral.

Bridge IMX to Moonriver using Wanchain

You can now transfer IMX to Moonriver from Ethereum or from Avalanche instantly using Wanchain bridge:

About Moonbeam and Moonriver

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network that makes it easy to build natively interoperable applications. This Ethereum compatibility allows developers to deploy existing Solidity smart contracts and DApp frontends to Moonbeam with minimal changes. As a parachain on the Polkadot network, Moonbeam will benefit from the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Currently, in active development by PureStake, Moonbeam is expected to reach MainNet by January 2022. Moonriver is Moonbeam’s sister platform on Kusama and has similar characteristics as Moonbeam. Moonriver will enable interoperability between the protocols deployed on it and other parachains on the Kusama ecosystem.

About Impermax Finance

Impermax is a leveraged yield farming protocol where users can borrow and lend assets using LP tokens as collateral. It creates an efficient liquidity providing environment and it opens up several use cases, such as lending a diverse set of tokens and leveraging LP tokens.

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