Introducing DeFiFarms Protocol - Use NFT to hold your stake.

lestmecheck (26)in #defi • 3 years ago

About

The development of society, we always indicate the direction in which we will all move in the next records. These guides display naturally throughout history, regardless of origin and country. However, no matter how hard we try, we only combine one condition and move forward with new technology.
The same is true for one of the most popular artistic variations of our time, Blockchain technology. Of course, many are trying to deny the fact that this technology can qualitatively replace a large number of devices and give them a new, more transparent, secure and reliable life. more reliable. Others, aware of this fact, are trying to adapt this technology to their business, making it better and more accessible around the planet.

Aware of the many difficulties and needs to be eliminated, the project team has come up with a technology that helps to recover all the destructors that the company hides, which is the DeFiFarms Protocol. The first protocol on Binance Smart Chain to use NFT to make productive farming more secure and resilient.

But easy said but extremely difficult to do, so there are many hidden companies that have to go bankrupt when their trading system encounters a lot of problems, such as delay in the wrong work in the model. business. Leads to no one using >>> bankruptcy.

Good news for everyone that I have found a company that has all the necessary requirements for the development topic, DeFiFarms is the first NFT protocol powerful automatic liquidity acquisition yeild farm and AMM decentralized exchange built on the Binance Smart Chain (BSC) without any central failure points or programming flaws. The platform provides benefits to users of it's platform by helping them gain profits or win rewards. The platform is decentralized and free from control of the government or any other central entity or manipulator.

DeFiFarms has incredibly innovative solutions used in DeFi platforms that facilitate transactions from both retail and institutional investors, however, an attribute of the crypto space. is price volatility a problem. This means that merchants cannot accept cryptocurrency payments for a currency that fluctuates in price. To solve this price volatility problem in cryptocurrency prices,

How outstanding is NFT in 2021?

The NFT market still has the problem that the number of transactions has increased but the value per transaction has started to decrease due to the influence of the general situation of the correction of the whole market. During the first 11 days of May, nearly 15 million USD were traded daily. However, soon after, the volume dropped rapidly to less than 6 million USD per day.
Even so, the field still attracts the attention of more and more big names such as Outlier Ventures, Digital Finance Group, Morningstar, Blockhype, Spark Digital Capital, CEO of mobile developer Altitude Games Gabby Dizon and Polygon (Matic) co-founder, Sandeep Nailwal.
Especially with the launch of Binance’s NFT Marketplace in June, NFT will still maintain the heat in the near future, not just a trend that soon blooms and fades.

Role of NFT in DeFiFarms

DeFiFarms is one of the yield farms with NFTs protocol that automatically buys back, mines and creates automatic liquidity, this is also an AMM decentralized exchange running on the Binance Smart Chain platform.
DeFiFarms not only possesses many outstanding advantages over Centralized Exchanges, but also has the potential to bring more attractive profits than current Decentralized Exchanges and Yield Farming platforms.

DeFiFarm’s staking process will be the same as most DEXs today plus a new innovation powered by NFT. By using NFT, DeFiFarms allows stakes to become more dynamic. Instead of stakes fixed in the user’s wallet, it is linked to the attestation document so that the NFT is transferable. Meaning, when you become a Liquidity Provider and reserve your tokens, you not only earn rewards, but also receive NFTs of equal value. This is called NFT Farming.
In other words, DeFiFarms adds a new layer to Liquidity Providers and Yield Farmers earn more by allowing them to “move around” locked values of the Liquidity Providers Token (LP Token).
When you hold a certain amount of DEFIY/BNB liquidity tokens in the DeFiFarms platform, LP tokens are locked in the staking contract, but their value is not superfluous. At the time of staking, the system will generate a new NFT, protecting the digital asset locked inside it.
This asset of yours will be stored on-chain in this NFT’s metadata. You can then enter the market and trade that NFT for the market value of the LP token along with the accumulated rewards. When you or the end user unsubscribe, using NFT as proof of ownership, the NFT will be burned and the deposit plus unconverted rewards will be transferred back to your

Features of DeFiFarms

Automatic Liquidity : For every transaction made on DEFIY there is an 8% tax fee. From that 8%, 6% of it will be sent to the DEFIY-BNB liquidity pool, this leads to an increase in price.
Automated Burning : Since each transaction incurs an 8% tax and after 6% is sent to the liquidity pool, the remaining 2% will be burned up via smart contracts. Burned tokens exit in a black hole address which is 0x000000000000000000000000000000000000dEaD
Harvest Lockup : This feature is to benefit new and old users alike on the platform. It prevents people from quickly harvesting or dumping rewards, which could be done by bots or people. On Defi Farms the harvest lockup of DEFIY-BUSD is 4hours. And so those who stake in the DEFIY-BUSD farm can claim rewards only every 4 hours.
Anti whale strategy : On most block chain project, whales usually use the fact that they own a huge supply of the tokens, to influence the markets through pump and dump schemes. To curb this problem, the Defi Farms platform have implemented a policy which says that the transfer of more than 0.5% of the total supply would not go through. As the total supply grows, this ratio will reduce accordingly.
Deposit Fee Redistribution : A deposit fee of 5% will be charged when users enter staking on Defi Farms. This 5% fee won’t be burned, unlike how it’s done on other platforms. Rather 1% of it would be given to while the remaining 4% would be redistributed to DEFIY holders using Defi factory.

High demand and utility for the DEFIY tokens on the platform :
Holders of the $DEFIY token could experience high returns in terms of higher price of the tokens, due to the token being used for various trade actions. This could result in the tokens rise in price, thus benefitting the holders.

Secured NFT Staking :

Users of the platform won’t need to have a hot wallet to stake and earn. When a user has funds on the platform, a unique NFT is created to wrap what the user has staked. The wrapped NFT serves as a key to unlock the users stake.

Staking pools for users :

Users of the platform would be able to add security to the platform by confirming transactions that occur within the protocol of the block chain involved. Users will also be able to borrow assets off the platform. Those who decide to stake will earn rewards that is equivalent to how much they’ve staked.

Defi Farms Trader Credit (Defi Farms Trader Credit) :

Token Details

The maximum supply for the token is 1 Quadrillion.
Different allocations for the token us as follows :
10% for Defi factory farming.
80% allocated for trading rewards pool.
10% for development funding.

Transfer Tax Fee

7.5% for automatic liquidity acquisition.

Roadmaps For the Team:

For Quarter 2 of 2021 the team planned to

Deploy Contracts
Build Website
Launch Presale

For Quarter 3 of 2021 the team plan to

Launch the Platform
Start IDO/Liquidity Pool
Start Exchange Listings

For Quarter 4 of 2021 the team plan to

Make new Partnerships
Incorporate NFT Art
Bring in Governance

For Quarter 1 of 2022 the team plan to

Update the platform

Meet the founding members!

Conclude:

Above is all the information about the DeFiFarms Protocol project that I have learned day and night about. Hope you will read and feel all the benefits and features of the eco system. Perhaps an article like this isn't enough, but I'm sure there will be many more features of DeFiFarms Protocol to the readers.