sponsored
As a result of DeFi protocols, access to finance has been democratized, allowing anyone with an Internet connection to gain access to opportunities and services. However, they only gained popularity after the ‘DeFi summer of 2020’ and the yield farming craze that followed.
The concept of yield farming has changed the way people view savings by becoming the standard means of generating passive income in the cryptosphere. Consequently, numerous DeFi protocols have developed their architecture and functionalities around yield farming. However, yield farming has remained virtually unchanged over the years despite its value.
Introducing Animal Farm
Animal Farm is a DeFi protocol that is modelled after George Orwell’s novel of the same name that criticizes centralized power. Unlike its competitors, it is the first and only decentralized ownership lending and yield aggregation protocol in the DeFi industry.
The platform uses two native tokens, DOGS ($AFD) *live October 18th*, the reward asset, and PIGS ($AFP), the governance token, which represents the platform’s ownership stake.
Dynamic Supply
In contrast to other DeFi platforms, Animal Farm utilizes a dynamic supply control algorithm. By employing this innovative algorithm, the supply of the DOGS ($AFD) token, which will launch on October 18th, and the PIGS token, is determined in a trustless, decentralized manner.
As a result of the supply control algorithm and tokenomics of DOGS ($AFD) and PIGS ($AFP), the supply is designed to remain stable and even become deflationary during times of low demand, thereby allowing for optimal pricing performance in all market conditions.
$AFP Giveaway – Join the Animal Farm Craze
The Animal Farm team will be conducting a giveaway contest in celebration of the full launch of the protocol on October 18th. After completing a series of tasks, one user will be awarded exactly $5,000 worth of BUSD. In order to avoid adding to the circulating supply of tokens, Animal Farm does not pay for promotion or marketing with native tokens. Therefore, the reward will be in BUSD.
Animal Farm Tokenomics & Reward Model
Launching on October 18th, DOGS ($AFD) has a unique vesting model which does not lock users’ tokens. By instead using a variable tax model, it has created an incentive structure that rewards those who secure profit in the form of BUSD and BNB dividends by staking DOGS ($AFD) instead of selling it on the market.
Stakers in Animal Farm’s…
Click Here to Read the Full Original Article at Bitcoin News…
