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Continuing to rocket up the cryptocurrency charts is the newly found Moon Farming Platform (MFP), Schnoodle. Schnoodles' team has managed to gamify the entire yield-farming process, aiming to simplify and automate pool funding for yield farmers. By charging a 4% sell tax rate for all sellers, Schnoodle can ensure its MFP continues to benefit the yield-farmers which use them. Investors no longer need to focus on multiple pools at once as the Schnoodle MFP means yield-farming is as simple as how much and for how long?
"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.
The team at Schnoodle cares about equality within the crypto market, ensuring their platform is fair to early adopters by locking their calculated multiplier within their initial deposit. In doing so, Schnoodle minimizes the effect larger farmers will have on their locked crypto. The Schnoodle fund has two price dynamics constantly working on it, which in turn affects the APY of the entire fund. The APY increases when selling occurs, due to the tax, whilst the APY decreases the more yield-farmers that join the fund. With the tax in place, the team at Schnoodle estimates the funds APY to steadily increase as a natural balance is found. By locking in their funds for extended periods of time, Schnoodle farmers can receive a proportionally larger slice of the fund, being rewarded for their loyalty.
To differentiate themselves from the majority of stale cryptocurrency projects, the team at Schnoodle developed memorable acronyms for their different protocols:
- BARK: Blockchain Automatic Reward Kickbacks
- ASS: Automated Superyield System
ASS is the protocol adding additional tokens to the fund whilst also being their deflationary measure burning a percentage of rewards received by the farmers.
Simply put, the entire Schnoodle farming platform is held up through balance. To ensure APYs in the Schnoodle fund continue to remain stable, perfect balance between sellers and holders must remain.
Read all about Schnoodle’s Moon Farming Platform in their whitepaper and stay up to date on the latest news through their social media channels.
To encourage new farmers and to continue to reward loyal Schnoodle farmers, the team at Schnoodle hosts Farm Seeding Events (FSE) periodically throughout the year. FSE are airdrop events, dropping $SNOOD tokens directly into the Schnoodle fund, where anyone with locked tokens within the pool benefits from. All FSE events will be promoted through the team's social media channels so you know when you are about to gain! FSE airdrops are on-top of the traditional funds put back into the fund after every sale. The Schnoodle team aims to use FSEs as a marketing tool, encouraging new farmers to join the fund!
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.