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LaCucina Collaborates With MDEX and Beefy.Finance, Gives Flexible Staking

CryptocurrencyJan 14, 2022 07:30AM ET
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LaCucina Collaborates With MDEX and Beefy.Finance, Gives Flexible Staking

  • LaCucina partners with MDEX and Beefy.Finance.
  • LaCucina uses Binance Smart Chain (BSC) technology.

The DeFi space continues to blow the crypto world with its never-ending technology development. This time, LaCucina, a fair DeFi engagement platform, is conquering the center stage as it officially announces its launch this January on the Binance Smart Chain (BSC) network. Through this, network users can enjoy the lowest fees and fastest transactions using the BSC technology.

In addition, the network also released information about its collaboration with MDEX, a leading decentralized cryptocurrency exchange, and Beefy.Finance, a secure and high-APY multi-chain yield optimizer. In detail, this partnership enables LaCucina to boost its users’ rewards on coins staked at those third-party platforms through an engaging and fun benefits program. LaCucina’s Head Chef said,

LaCucina was born out of the necessity for projects to create appealing and attractive ways to incentivize users to engage with and promote participation. None of the existing DEXs and farms out there offer the level of flexibility that LaCucina offers, resulting in biased allocations of rewards, in such a way that the rich get richer and the small players do not stand a chance of properly enjoying DeFi.

LaCucina’s Head Chef added, “LaCucina is planning on being the most impartial launchpad for crypto projects, facilitating direct engagement between projects and users and allowing projects to directly reward users for their engagement with the project. LaCucina’s roadmap for the near future offers a truly special product and aims to set a new standard for launchpads.”

The network will be deploying Ovens to selected liquidity pools on MDEX and Beefy’s Vaults. These Ovens monitor the transactions in the underlying liquidity pools or vaults and reward users based on a multitude of parameters such as liquidity timing or duration. Best of all, users that link their wallets to LaCucina and participate in the target pools over the designated period of time will get additional benefits.

Meanwhile, MDEX will offer a $LAC liquidity pool farm, rewarding $LAC liquidity providers with its $MDEX token. On the other hand, Beefy.Finance will launch a vault for the MDEX farm. This feature will boost the benefits for liquidity providers. Furthermore, the users do not have to move their staked positions or staked anything at LaCucina to claim their rewards. The platform does not feature native staking and operates as an additional reward level on top of third-party decentralized exchanges and farms.

Weso, Head of Strategic Partnerships at Beefy Finance explained,

Our mission is to help users maximize their profits when putting their crypto to use. LaCucina’s vision is geared toward the same goal, which makes it a perfect partner. We are happy to be offering our users even more value from their investments with no additional costs on their end and look forward to welcoming more investors on our platform.

The network is also offering retroactive perks to all its users who provided liquidity pools on MDEX, PancakeSwap, and Sushiswap in the past months. Its network’s flexible engagement or Cooking Pans will ensure accurate processing of stake rewards and prioritize other things such as the staking time, duration and other parameters. This will allow small users to punch above their weight with well-timed and committed engagement.

Moreover, LaCucina introduces a new and innovative way for all its users to increase their rewards through NFTs. In particular, the LAC tokens can be used to get secret ingredients or special NFTs, such as “Space Mushrooms” and “Martian Worms.” These NFTs representing interstellar food ingredients are released on an on-going basis and vary in rarity and nutritional value.

Moreso, LaCucina users can put several ingredients together to “cook” a new NFT of a different type—a Reward Boosting Dish such as pizza, pasta, or zuppa. The Dish will carry a multiplier that its owner can then activate on any Oven to increase their relative share of rewards. The multipliers will range between 1 and 10, depending on the rarity and nutritional value of the ingredients used.

Liquidity providers are a central pillar for any decentralized crypto exchange,” says KIKO, CMO of MDEX. “Without their support, such projects cannot function. Any extra incentive for users to stake their tokens into liquidity pools ultimately works toward enabling the larger crypto ecosystem as such, which makes projects like LaCucina such a crucial piece of the puzzle. We are thrilled to be moving ahead with this partnership.

Continue reading on CoinQuora

LaCucina Collaborates With MDEX and Beefy.Finance, Gives Flexible Staking

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