Last two weeks I was anticipating and really excited for Forex Shark’s new DeFi project: The Animal Farm! Finally, the Animal Farm went live on Thursday 03/02, with 5 hours delay! But like my friend Mikey from Cryptozoa Drip Lounge group said, two things are always late in life, a) Weddings and b)Forex Shark’s launches LOL! Big Shoutout to Mikey. Btw Mikey has a youtube channel where he interviews Drip members. Channel link here
So what exactly is the Animal Farm? Is it really Drip on Steroids? I sure hope so! I quote the below from the Animal Farm website :
The Animal Farm is the first deflationary, fully decentralized ownership yieldfarm/lending protocol where participants earn as an owner of the network. The super wealthy do not build and protect their wealth through selling their assets. They accumulating and then leverage their assets, while living off the dividends. The Animal Farm captures this financial power and puts it in the hands of the platforms participants.
The Animal Farm has two native tokens, DOGS and PIGS. Both are innovative assets that balance each other perfectly and allow for a multitude of options for investors who want to take full advantage of the platform. FARM MECHANICS: Dogs can be earned in all farms and pools as it’s the primary farm reward token.PIGS can be farmed exclusively in the DOGS/BNB, DOGS/BUSD and DRIP/BUSD staking contracts, as well as the DOGS single asset staking pool. Restricting PIGS rewards to these 4 options limits the supply of PIGS tokens and also creates demand for staking DOGS and adding liquidity to DOGS.
Instead of dumping DOGS on the market, farmers can stake DOGS to earn a greater share of the platform through utilizing their PIGS rewards. Our strategic partnership with Drip.Community allows farmers to stake DRIP/BUSD on Layer 2 to earn PIGS, creating a new exclusive use case and new demand for DRIP while removing DRIP from circulation. PIGS are the governance token of the platform. Staking PIGS allows you to be an owner of the farm! DOGS are the native farming token on L2 and are earned in all farms and pools to various degrees.DOGS have a 6% base tax on all transactions and an additional 3% tax on selling.
Let’s break it down how can you earn from the Animal Farm.
Stake Pancakeswap LP tokens to earn (DOGS) in non-core farms and (PIGS) in core farms! Deposit fees get swapped for BUSD and used to both pay out BUSD dividends in the PIG PEN and add liquidity to the DOGS/BUSD pair on Pancakeswap. I am staking DOGS/BUSD and DRIP/BUSD and earning PIGS.
Stake single token assets to earn (DOGS) in non-core pools and (PIGS) in the core pool! Deposit fees get swapped for BUSD and used to both pay out BUSD dividends in the PIG PEN and add liquidity to the DOGS/BUSD pair on Pancakeswap. I am staking DOGS and earning PIGS.
The Pig Pen is our governance staking protocol where holders of the PIGS tokens become owners of the platform by staking their PIGS. As an owner of the platform, you not only earn a high yield BUSD dividend, which is generated from the platform deposit fees, as well as the taxes associated with the underlying assets. You also get a vote on future proposals presented by the development team. I am staking PIGS and earning PIGS.
The DRIP Liberation contract allows farmers to add DRIP/BUSD liquidity to PancakeSwap without paying the 10% transaction tax. Funds sent to the contract be used to buy DRIP for you with half of the BUSD and use the rest of the BUSD to add liquidity on Pancakeswap. Here you can Convert BUSD to DRIP/BUSD LP. You can stake this DRIP/BUSD LP token in farms to earn PIGS or deposit it in the Drip Garden to get a daily 3% return.
The DRIP Garden
The DRIP Garden is a true game where all players start out relatively equal and what determines your payout is how often you plant your seeds(compound) vs. how often you sell them (withdraw). Below is a graph showing the buying power over time and balance compared to other games such as Shrimp Farmer and “Miners”. Existing games give insiders over 100,000% more buying power than players who get in after launch, allowing them to drain the contract and disincentives new capital from coming in.
As Forex Shark mentioned in his AMAs they have literally millions of dollars put aside to start buy backs on DOGS and PIGS. I speculate that this will help a lot with the appreciation in Price of DOGS and PIGS. Simple supply and demand. He also mentioned that they have millions of dollars ready to inject into the PIGPIG. That means if you stake PIGS in the PIG PEN you will receive a nice dividend in BUSD from that injection 😉
I am very excited about this project as it is related to my favorite DeFI project DRIP.
If you want to learn more about DRIP you can read my articles DRIP: A Fixed Deposit In Crypto With an APY Up to 3,678%. and My Amazing DRIP Journey So Far: $406,100 earned!
If you want to join The Animal Farm you can consider adding me as your referrer as it will support the blog. Click here to add me as your referrer.
Recap On How To Invest In Drip
- Set up a metamask wallet
- Buy BNB Binance or Gate.io.
- Go to https://drip.community/fountain and exchange BNB for DRIP.
- Enter a Buddy address in the Referral section. You can use my Buddy ID 0x6dE832116Cd0165A1a58eC6F9Be9873670cA10E0
- Buy at least 1.12 DRIP, as 1 DRIP is the minimum requirement, and the 0.12 takes care of the tax, so you will have 1 DRIP in your account. Deposit your 1.12 DRIP into the DRIP Faucet. (Always have enough BNB on Metamask to pay for the gas fees.)
I am part of the Cryptozoa DRIP team. We are a global community of DRIP enthusiasts who are welcoming and helpful. We converse on our own private Telegram group where we share DRIP tips, strategies, breaking news, and more. If you would like to join in the conversation, please join the Cryptozoa team (by getting into DRIP and using my Buddy address above), and then head over to the Cryptozoa Team Gateway. Make sure you tell them that Demarko is your buddy! They can help you get going with DRIP if you need it, or answer any questions you have as well. But of course, you can contact me directly on telegram if you prefer!
Take care and I hope I will see you on board!
Some useful links
Contact me on Telegram https://t.me/Demarko10
Drip Telegram Group — https://t.me/DRIPtoken_Chat
Cryptozoa Telegram group. https://t.me/joinchat/PbTulqLoCmAzZmQx
DRIP Lightpaper — https://www.docdroid.net/0i3RJTu/drip-lightpaper-pdf
Nothing in this article is to be construed as investment advice. Neither the author nor the publication takes any responsibility or liability for any investments, profits, or losses you may incur as a result of this information. The article may contain affiliate links.