New MM Finance (StableSwap) Pool and Migration Guide

Step-by-Step guide on migrating your current MMF bCRO-CRO LP to the new MMF bCRO-CRO (Stable) LP

MMF bCRO-CRO pool & farm migration to bCRO-CRO (Stable) pool & farm

Farm emissions migration

The current farm emissions on the current MMF’s bCRO-CRO farm will be gradually migrated to the new MMF bCRO-CRO (stableswap) farm. Exact timeline below:

Timeline

18th July: bCRO-CRO (Stableswap) Pool set up on MMF Stableswap
18th July: bCRO-CRO (MMF) farm multiplier to decrease to 2.5x. bCRO-CRO (Stableswap) farm multiplier to increase to 2.5x
21st July: bCRO-CRO (MMF) farm multiplier to decrease to 0x. bCRO-CRO (Stableswap) farm multiplier to increase to 5x

What does it mean for you?

Step by Step Liquidity Migration Guide

Step 1: Go to MM Finance Farm to Unstake your bCRO-CRO LP

Click the minus button on the right hand side to initiate bCRO-CRO LP unstake.
Press Confirm

Step 2: Go to MMF Liquidity page and remove bCRO-CRO LP Liquidity

Remove the old bCRO-CRO LP liquidity

Step 3: Go to MMF Stableswap

Landing page of MM Stable Swap

Step 4: Add bCRO-CRO (Stable) LP Liquidity on MM Stable Swap

Step 5: Head to the new bCRO-CRO (Stable) farm on MM Finance

Step 6: Stake your bCRO-CRO (Stable) LP

— Guide End —

Why is this migration happening?

One key aspect for CRO liquid staking is the creation of a liquid bCRO-CRO pool for users to swap out bCRO as and when they want. While the initial bCRO-CRO has serve this exact purpose, there were some inefficiencies such as high slippage (0.3% on VVS, 0.17% on MMF) during each trade.

1. Users and traders benefit from lower slippage for bCRO<>CRO swaps on MM Stableswap

This bCRO-CRO pool migration to MMF Stableswap will result in an extremely low slippage between CRO<>bCRO swaps (0.04%!). This makes bCRO a more attractive asset to users who wants to buy CRO at a discount (Lower slippage cost) and for users who are running arbitrage strategies between bCRO and CRO.

2. Argo bCRO Liquid Staking is even more attractive now

With a bCRO-CRO Stableswap pool, bCRO liquid staking will become even more attractive with lower slippage swaps. You do not have to worry about high slippage when entering or exiting a bCRO position.

3. Cementing a long-term strategic partnership with MMF

Argo Finance and MMF will be cementing a long-term strategic partnership as both protocols expand deeper into Cronos.

Connect with us, Argonauts.

We are building a family here at Argo. Join our socials, keep up with our latest news, and chat with us, we look forward to answering any doubts and questions.

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