Yield-farming can be one of the most lucrative farming methods within DeFi, but it comes at the cost of excessive planning and executing, ensuring you are always farming the best rates DeFi has to offer. This is where rising Moon Farming Platform (MFP), Schnoodle steps in. Having developed a unique proprietary algorithm which gamifies the entire yield-farming process, their team have managed to simplify a process down to how much and for how long decisions. Their algorithm automates pool funding within DeFi, aiming to optimize the yield from each pool. By setting a 4% tax on all sells, which goes directly to their farming fund, the team at Schnoodle are able to continue passing on great returns for all involved.
“Although the algorithm sounds complex, the effect of it is quite simple. The more you deposit and the longer you farm, the greater proportion of the farming fund or gross reward you receive. This is calculated linearly. The longer you lock your deposit for both before withdrawal (vesting blocks) and after withdrawal (unbonding blocks), the greater the multiplier is that will be applied to your gross reward giving you your net reward.” – A spokesperson for Schnoodle.
One of the main problems that come from yield-farming is the constantly variable yields, or APY, in each pool. The team at Schnoodle quickly understood this and the problem it creates for early adopters and subsequent yield-farmers. Within the Schnoodle fund, the APY is impacted in two ways:
- APY increases when selling occurs, due to the 4% tax.
- APY decreases when more farmers join the fund.
By setting a selling tax, the Schnoodle team estimates the APY of their fund to steadily increase and not face massive volatile spikes. Furthermore, to benefit early adopters, Schnoodle is locking the calculated multiplier within a user’s initial deposit. If the fund becomes too volatile for some, the Schnoodle team implemented longer lockup periods for a proportionally higher piece of the fund, to reward loyal yield-farmers.
Ensuring Schnoodle stands out from the crowd is key to their success, which is why the team created memorable and humorous acronyms to describe key protocols operating within their platform.
- BARK: Blockchain Automatic Reward Kickbacks
- ASS: Automated Superyield System
Their ‘ASS’ protocol is the glue holding the fund together, used to add funds into the Schnoodle yield-farm pool and also burn extra rewards received by farmers. To maintain balance is the key for Schnoodles survival and growth, expertly balancing sellers with holders to ensure the funds APY stays healthy and continues to appreciate.
Read up on the Schnoodle’s Moon Farming Platform through their whitepaper and stay up to date on all things Schnoodle by following their social media channels.
In the hyper-competitive cryptocurrency landscape, projects need to be able to stand out from the rest. One way Schnoodle aims to achieve that is through Farm Seeding Events (FSE). Used as a marketing tool to promote the Schnoodle fund and encourage new yield-farmers. FSEs are $SNOOD airdrops, dropped directly into the Schnoodle fund, where anyone participating will benefit. Airdropped on-top of traditional sales tax funds put directly back into the pool, FSEs will be direct benefits to the Schnoodle community. To ensure fairness, each FSE will be heavily announced on the team’s social media platforms, doubling as a great promotion tool.