Hello friends! Today I am going to Review a high quality project Called DeFiFarms.
Now I will describe Some important topic of DeFiFarms.
- What IS DeFiFarms
- NFTs and its outstanding role in the DeFiFarms ecosystem
- Advantages of DeFiFarms Platform
- Use Cases of DeFiFarms
- Roadmap of DeFiFarms
1. What IS DeFiFarms
DEFIFARMS, the first NFTs Protocol Powerful Automatic Liquidity Acquisition Yield Farm and AMM decentralized exchange running on Binance Smart Chain with lots of unique and creative features that let you earn and win. It is a Binance chain-based top Automatic Liquidity Acquisition Yield Farm & AMM without any central failure points or programming flaws. The government does not control it and users do not have to face any counterparty risk.
DEFIY and DFTC are the official tokens of DEFIFARMS that enhance farming, staking, earnings, trade settlements, and huge gains across various blockchains. The DEFIFARMS finance will provide an all-inclusive platform that utilizes the power of the Binance chain to bridge all other top ecosystems thereby interconnecting the Defi world.
DEFIFARMS serves as a medium of bridging all DEFI-capable blockchain thereby allowing users to enjoy all the benefits of a robust decentralized finance protocol without considering pre-existing community loyalties. DEFIFARMS allows everyone to participate in DEFI stake, market, and farm thereby earning more coins in this regard.
DEFIFARMS is an automated market-making (AMM) decentralized exchange that is available on the Binance chain network. The DEFIFARMS ecosystem is made up of various pillars.
2. NFTs and its outstanding role in the DeFiFarms ecosystem
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 wallet.
3. Advantages of DeFiFarms Platform
DEX Trading
• Pseudo-anonymous: Users do not need to fill out a detailed form or provide an ID to participate.
• Automatic: The activities on DEX is instant as long as there is enough liquidity
• Non-custodial: You do not need a third party to control your funds.
• Lower cost: Lower transaction charges
• Users can use the DEFIFARMS platform to curb the risk of hacking as long as they can keep their keys in check.
Merchant Adoption
DEFIFARMS allows merchants to enjoy currency stability especially at a low cost and to increase profit as it also retains all the benefits that are attached to the DEFIFARMS system. The huge adoption by merchants will enhance the permissionless nature of the ecosystem.
Increased demand and utility for DEFIY tokens
In addition to the rise in price pressure, DEFIY will also be used in various trade actions thereby increasing the demand for DEFIY as collateral and directly affecting the long-term viability of the peer-to-peer system. This effect will also be notal in trading against other.
4. Use Cases of DeFiFarms
AMM
The DefiFarms AMM exchange is a complete fork of PancakeSwap, the factory & router smart contracts are the same as Pancake Swap (we only changed "pancake" to "DEFIY" in these two contracts). It means that the contracts where store liquidity (your money) are as safe as PancakeSwap. For each trade, a 1% fee is paid. 0.85% goes to liquidity providers and 0.15% goes to the
Unique Trading Incentive System
For a newly established AMM exchange, the most important question is how we can get enough trading volume in a short period. More volume means more trading fees, and liquidity providers can get more revenue. Here is our solution, our unique trading incentive system: - Traders can get extra token rewards in every trading in specialized trading pairs. • For most trading pairs, traders will receive the DFTC (DefiFarms Trader Credit). Other projects can also provide their tokens as trading rewards for their token's trading pairs.
5. Roadmap of DeFiFarms
The goal of an efficient roadmap is to create an ETA for every task. However, development or coding is not easy and it is always accompanied by some uncertainty. We will try our best to release every feature or product on time.
Launch
- Project Launch - Audits (TBA)
- Apply for Listings on Coinmarketcap, Coingecko, DappRadar, BscScan, etc.
- Lottery • Defi Factory Farming (Stake DEFIY to earn deposit fees) - (TBA)
- Twitter Contests - (TBA)Will start right after launch
- Partnerships - (TBA) Will start right after launch
AMM
- AMM Decentralized Exchange- TBA (8 - 9 days after launch)
- Disable All Cake-LP Farms - (TBA) 1 day after AMM release
- Add DEFIY-LP Farms - (TBA) about 1 day after AMM release
- AMM Trading Mining (Trading on DefiFarms to earn new tokens) - (TBA) AMM About 7 days after AMM release
- Airdrop Platform (Hold DEFIY to claim free new tokens) - TBA About 15 days after AMM release
- IFO - TBA 20 days after AMM release
Other Products
- AMM API-Endpoint
- AMM Analytics
- Voting
- Margin Trading (Trade BSC tokens with leverage on-chain)
- Fixed-Rate Swap Other Products
- Binary Options
For more information Link:
Website: https://defifarms.org/
Whitepaper: https://drive.google.com/file/d/16rlbSp4cd_RpGDuPp7VPBpKeGTJ8_yYb/view?usp=sharing
Telegram Group: https://t.me/DefifarmsNFT
Medium: https://defifarmsnfts.medium.com/
Twitter: https://twitter.com/DeFiFarmsNFTs
LINKEDIN : https://www.linkedin.com/company/defifarms-ltd/
GITHUB: https://github.com/defifarms
Author
Forum Username: maruf01788
Forum Profile Link: https://bitcointalk.org/index.php?action=profile;u=1393213
Telegram Username: @Cryptomaruf
PROOF OF REGISTRATION: https://bitcointalk.org/index.php?topic=5346604.msg57345254#msg57345254
BEP-20 Wallet Address: 0x7b08D99f07E9e33E5eE455216119fAeA7df45371