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xGov-198 - CompX - Auto-Compounding Farms
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id: 197 | ||
period: 4 | ||
title: CompX - Auto-Compounding Farms | ||
author: Kieran Nelson (@xxiled-plastic-cat) | ||
email: kieran@compx.io | ||
discussions-to: https://forum.algorand.org/t/xgov-198-compx-auto-compounding-farms/11850 | ||
company_name: CompX Labs | ||
category: dApps | ||
focus_area: Defi | ||
open_source: No | ||
funding_type: Retroactive | ||
amount_requested: 75000 | ||
delivery_date: 2023-11-20 | ||
status: Final | ||
--- | ||
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## Abstract | ||
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This is a retroactive proposal for impact delivered via CompX auto-compounding farms. These farms went live in 2023, and have been giving Algorand users a new way to earn higher yields from pools that they trust. | ||
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## Team | ||
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Kieran Nelson - CEO/Founder at CompXLabs | ||
Akingbesote Jesulonimi (Nimi) - Founder / Lead smart contract developer | ||
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## Experience with Algorand | ||
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Kieran - 2.5 years working in the Algorand ecosystem across Algogator and CompX. Extensive experience with Algorand SDK and ecosystem APIs. | ||
Nimi - 2 years experience working with xBacked create smart contracts, front end and backend for the platform. | ||
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## Present Proposal | ||
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Auto-compounding farms take advantage of the composability of Algorand smart contracts and allow CompX to add a layer on top of Pact.fi farm contracts. This extra layer allows us to offer users the ability to claim, swap and restake their rewards on a frequent basis. This results in higher yields for the user. | ||
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### Deliverable | ||
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Auto-Compounding farms were delivered and went live on 20th November 2023 and currently hold over $1mm of TVL. | ||
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### Technical specifications | ||
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See forum comments for video outlineing auto-compounding farms. | ||
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## Future Blueprint | ||
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CompX auto-compounding farms will continue to be a core feature of CompX. We will be bringing V2 farms, which are fully independant of Pact.fi but V1 farms as they are now will still be utilised. | ||
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## Benefits for the community | ||
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1. The community can use our auto-compounding farms to gain higher yields while leveraging the proven contracts at Pact.fi. | ||
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## Additional information |