Neo users can beta test Saffron Finance V2 by staking and withdrawing SFI, NEO, and GAS on the N3 TestNet. Saffron is also giving away 30 Neoverse blindboxes to users who provide feedback.
To participate, beta testers must first acquire TestNet NEO and GAS from the Neo N3 TestNet faucet, which can distribute 50 NEO and 50 GAS per IP address every 24 hours. Then, testers need to request SFI TestNet tokens in the Neo Saffron Beta Testing Telegram channel. The NeoLine Chrome extension wallet is required to use Saffron.
The Saffron V2 beta platform currently offers a dashboard displaying the total value locked for each coin and APR rates for rewards (distributed in SFI). Additionally, users can deposit and withdraw NEO, GAS, and SFI from single-sided staking pools.
According to Psykeeper, Saffron founder, initial plans for the platform’s launch on Neo include single-sided staking, followed by adding support for Flamingo. The Saffron development team plans to integrate with Flamingo on the N3 TestNet first, before MainNet.
At the time of press, there is a tentative late-Feb. 2022 timeframe for Saffron’s launch on N3 MainNet.
Saffron is also giving away 30 Neoverse blindbox NFTs. To become eligible, participants need to email firstname.lastname@example.org and share the N3 address they used for testing along with a minimum of one sentence of feedback about their experience.
About Saffron Finance
Saffron is a peer-to-peer risk management platform. It distribute yields according to liquidity deposits in particular tranches and offers an insurance fund that generates yields. Saffron offers its users a selection of risk profiles for its supported liquidity pools.
There are three tranches that depositors can utilize: senior, junior, and fee. If an event requires funds to be covered, such as a mass liquidation event, assets from the junior tranche and insurance fund will cover the senior tranche first, then the junior tranche. Junior tranche deposits receive a higher portion of the platform’s earnings in exchange for their lower coverage priority.
Saffron joined the N3 Early Adoption Program in Oct. 2021, with the intention to launch a liquidity mining service on Flamingo Finance. The Saffron ecosystem utilizes a governance token, SFI, which liquidity providers must stake to gain access to higher-yield tranches. When Saffron V2 launches, SFI stakers will also receive fees from swapping and staking activities on the protocol.
To learn more about beta testing Saffron on N3, visit the Neo Saffron Beta Telegram channel:
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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