DeFiFarms — Automatic Liquidity Acquisition, Yield Farming & AMM
Introduction
Decentralized Finance, often known as DeFi, is not new to the crypto world. The cryptocurrency sector has many different operations, including loans, trade and staking activities on blockchain networks using tokens for revenue and collateral. Due to its unpermitted access to worldwide consumers, anonymity, transaction transparency and much cheaper costs than traditional banking, DeFi is projected to be the next trend on the bitcoin market.
Ethereum is the DeFi trend’s starting point, it is also the first place where well-known entrepreneurs have pledged to operate. According to DeFiPulse statistics, TVL on Ethereum is currently worth about $60 billion, more than four times what it was at the start of 2021.
Despite its delayed introduction, Ethereum’s main competitor, Binance Smart Chain, is rapidly becoming regarded as the promised land of DeFi. According to DeFiStation, the current TVL on it is $38 billion.
What is DeFiFarms?
DeFiFarms is the first decentralized finance initiative on Binance Smart Chain to utilize the ERC-721 standard token for yield farming. It is classified as a sophisticated DeFi staking model. DeFi Farms eliminates the need for users to build a hot wallet in order to stake and get rewards. It is the best Automatic Liquidity Acquisition Yield Farm & AMM decentralized exchange on the market with a plenty of innovative and creative features that allows users to earn and win with no central failure spots or programming faults. It is not governed by the government, and users are not exposed to counterparty risk.
Existing Problem
The ability of any currency to act as a medium of exchange, store of value, and unit of account are the primary purposes of any currency. The price of cryptocurrencies must be stable in order for it to be adopted. In comparison to professionally managed fiat currencies, the value of cryptocurrencies can fluctuate dramatically due to inflation. This implies that the cryptocurrency prices for products and services must be adjusted, making it untrustworthy for users. The disparity in projected future bitcoin prices has also impacted trade, with some businesses refusing to take cryptocurrency as payment while other consumers are enthusiastic about the future and hence hesitant to spend.
Most businesses may be prepared to trade their bitcoins for a more reliable asset in order to prevent speculation. Customers may use the spend and replace strategy to compensate for positive sentiment. These measures, however, have a detrimental impact on the low friction benefits of crypto. To summarize, coin value stability is critical for cryptocurrencies to become a reality.
DeFiFarms Solution & Its Key Features
DeFiFarms, a transactional solution that does not rely on a single point of failure. It is simple to use and has the potential to minimize bitcoin volatility, therefore increasing its adoption.
The conventional order book centralized exchange has been supported by market makers (large trading businesses or brokerage houses with a strong grasp of regulatory requirements and financial expertise). They exhibit great liquidity in centralized exchange by profiting from large price discrepancies between buying and selling. The development of Defi and DEXes, on the other hand, has increased the use of Automated Market Makers (AMM), which allows shops to participate in market-making and benefit from trading fees.
The AMM exchange enables market makers to pool their money to form a single massive automated market maker. Traders can trade tokens on these pools using the deterministic method. However, some issues, such as low capital efficiency, impermanent loss, and front running, have an impact on the AMM.
Built on Binance Smart Chain provide DeFiFarms competitive advantage because of its reduced transaction fees and quicker transaction times. The network has improved the DeFi universe, allowing developers all around the world to express their ideas. DeFiFarms aspires to be the staking, trading, and investing engine that connects the Defi world to the blockchain future.
Key Features of DeFiFarms
- Automatic Liquidity
Every transfer conducted with DEFIY must be subject to an 8% transfer tax. The contract will also add a 6% transfer fee to the DEFIY-BNB liquidity pool in order to automatically and continually boost the price floor. The liquidity will be locked and unavailable. Before DEFIY is listed on the AMM DEX, liquidity will be introduced to PancakeSwap and subsequently DeFiFarms.
- Automatic Burning Mechanism
The remaining 2% transfer tax will be burnt immediately. The entire procedure is automated.
Burning Address: 0x000000000000000000000000000000000000dEaD
- Harvest Lockup
Harvest lockup is a one-of-a-kind and inventive farming reward lockup system developed by the DefiFarms development team that is used to control the frequency of harvesting. This method can assist to control the frequency of harvesting in order to avoid farming arbitrage bots from harvesting and dumping.
- Anti Whale
Transfers that exceed 0.5% of total supply will be declined. This ratio will decrease as the overall supply rises. At current ratio, any transfer that exceeds 0.15% of total supply will be denied.
- Deposit Fee Redistribution
When customers begin staking on DeFiFarms, a 5% deposit fee will be levied, however unlike other yield farms, DeFiFarms do not intend to utilize the deposit fee to buy back and burn. It’s a wasting of funds. Instead, DeFiFarms will transfer the 4% deposit fee to DEFIY holders in order to encourage them to hold. Remaining 1% deposit fee will be given to the development team as a development fund.
Why DeFi Farms?
DEX Trading
- To participate, users do not need to fill out a lengthy form or give an ID.
- Transactions on the DEX are instantaneous as long as there is sufficient liquidity.
- Funds do not need to be controlled by a third party.
- Transaction fees are reduced.
- Users can utilize the DeFiFarms platform to reduce the danger of hacking as long as they maintain track of their keys.
Merchant Adoption
DeFiFarms enable merchants to experience currency stability, particularly at a low cost, and to enhance profit while retaining all of the benefits associated with the system. The widespread adoption by retailers will strengthen the ecosystem’s permissionless behaviour.
Demand and Utility for DEFIY Tokens
$DEFIY, the native token of DeFiFarms will be utilized in a variety of trade activities, boosting demand for DEFIY as collateral and directly influencing the long-term health of the peer-to-peer system.
DeFiFarms Ecosystem
Trading
Because of blockchain’s quick development and innovation, commerce management has emerged as a key use case. Users in the centralized financial world can participate in other markets by transferring funds across borders without manually exchanging their fiat currencies to the currency of the specific country. DeFiFarms provides a platform capable of swapping using an automated market maker (AMM) paradigm. The solution is compatible with all blockchain systems. The technology enables users to seamlessly exchange assets between platforms without encountering conversion delays. It enables traders to trade against cross-chain liquidity pools and immediately settle their orders. Similar to other AMM systems, these pools are backed up by the user’s money, which is made available when users supply liquidity in exchange for a percentage of the trading cost.
Yield Farming & Staking
DeFiFarms enables users to stake and lend crypto assets, resulting in massive payouts as additional bitcoin is added to their balance. The yield farming part of the project serves to reward liquidity providers, allowing them to lock up their tokens and profit from the distribution of profits obtained through smart contract effective administration of the liquidity pool. Farming incentives will be based on revenues from bounty reward pools, liquidity pools financed by DeFiFarms finance, or other organizations.
The conventional DeFi staking mechanism is included in the DeFiFarms financial protocol. Users may improve network security by verifying transactions that exist inside the protocol or blockchain involved.
DeFiFarms users will benefit from the proof of stake mechanism, which allows them to borrow assets while maintaining the system’s stability. Stakeholders in the network will get a payout according to their proportionate part of the locked-up crypto assets.
DeFiFarms Wallet
A cross-chain wallet that allows users to access tokens across blockchains, allowing them for easier transactions. The wallet supports a safe and smooth experience while ensuring a seamless experience with the current DeFi worlds. DeFiFarms wallet will be available in a variety of formats, including Android, iOS, and also a Web based application.
Non Fungible Tokens (NFTs)
DeFi platform that will also cater to NFTs, or non-fungible tokens, a rapidly growing field of decentralized finance. DeFiFarms Finance will provide a comprehensive NFT marketplace that will facilitate the trade of non-fungible assets as well as the development of DeFiFarms NFTs.
DeFiFarms ($DEFIY) Tokenomics
Token Name: DeFiFarms Non-Fungible Yearn
Token Ticker: DEFIY
Token Type: Binance Smart Chain (BSC)
Total Supply: 100,000,000 DEFIY
Initial Supply: 9,000,000
Decimals: 18
Mintable Token: Yes
DEFIY Distribution
DeFiFarms Team
Conclusion
DeFiFarms acts as a bridge across all DeFi-capable blockchains, allowing users to reap the benefits of a full decentralized finance protocol without regard for pre-existing community affiliations. DeFiFarms enables anybody to engage in DeFi stake, market, and farm, earning additional coins in the process. It is also a decentralized automated market-making (AMM) exchange available on the Binance Chain. The DeFiFarms ecosystem is comprised of several components. The projects is backed by a group of experienced data scientists, blockchain and database engineers, and software developers. Who are deeply committed to the advancement and scalability of blockchain technology.
For More information about DeFiFarms project:
Author Details:
Bitcointalk Forum Username: auda159
Telegram Username: @auda159
BEP-20 BSC Address: 0x0AFAF9dAcb8FaF9344Ced7254f37CBC7D3f21F52