Flurry Finance is announcing an exciting development in the world of DeFi, as the successful launch of the rhoToken marks a next level evolution in yield aggregation! Users are now able to freely earn, trade, and spend deposit tokens while farming without restrictions or lockup periods. The future of yield farming has arrived!

The Debut of the rhoToken

rhoTokens are pegged to stablecoins on a 1:1 basis and support 3 kinds of stablecoin deposits. Users can now use the Flurry Finance DApp to convert USDT, USDC, and BUSD stablecoins into the corresponding rhoTokens of rhoUSDT, rhoUSDC, and rhoBUSD in order to earn passive income through the Flurry Protocol’s yield aggregator without the usual hassle, complications, and high gas fees associated with lending tokens to different DeFi lending protocols and exchanges directly.

To fully explain this momentous occasion, it’s important to know how the rhoToken differs from other yield farming deposit tokens. At its most basic form, the rhoToken is a deposit token that operates on the basis of a pegged value and elastic supply. This means that while earning yield, the number of rhoTokens in a user’s wallet changes, with freshly earned rhoTokens rebased into users’ wallets at 8:00am UTC everyday. This differs from most traditional yield farming deposit tokens, whose values change while earning yield, and are therefore subject to lockup periods where they cannot be exchanged, spent or redeemed. Since the
Source…