Abstract
Decentralized finance or commonly abbreviated as DeFi is a protocol that provides various applications that will make it easier for users such as swap tokens, stakes, yield farms, and lend/loan. With DeFi, users can exchange their tokens more easily or earn passive income every day. But now the DeFi platform not only provides DeFi features but is also combined with the NFT protocol, which allows users to trade their NFT tokens.
But what about when the NFT protocol is combined with the DeFi protocol? This is DeFiFarms, the First NFTs protocol Automatic Liquidity Acquisition Yield Farm & AMM, which will provide users with a DeFi service they can rely on. What DeFiFarms offers is the DeFi NFT protocol for utilizing ERC-721 tokens for Yield Farming on Binance Smart Chain. This way allows staking to be more dynamic and linked to a transferable NFT.
DeFi NFT Protocol
If you are a crypto user then you understand a little about what the DeFi and NFT protocols are. These two protocols are quite a trend nowadays in the crypto market, where the DeFi protocol allows users to carry out various crypto activities easily and securely, and the NFT protocol allows trading of digital content that is secured with blockchain technology. These two protocols are very helpful for crypto users and make the crypto market more attractive. Seeing the development of these two sectors, DeFiFarms wants to innovate in presenting a DeFi platform that is supported by the NFT protocol. The solution offered by DeFiFarms is the Automatic Liquidity Acquisition Yield Farm & AMM platform which allows stake tokens to be more flexible and linked to a transferable NFT.
DeFiFarms offers users a DeFi platform that allows stakes to be transferred like any other token. This way allows users to be able to stake tokens more flexibly.
DeFiFarms Features
DeFiFarms is an Automatic Liquidity Acquisition Yield Farm & AMM that allows users to stake tokens more flexibly. When a user stakes their token on DeFiFarms, the system will automatically generate an NFT token which will wrap the user's stake. Later this NFT token will be the key for users to be able to unlock their stake. Users can easily unstake their tokens by burning these NFT tokens or trading them in the marketplace with other users. But that's not all, there are several other features of DeFiFarms:
Automated Liquidity: For every transfer with DEFIY will be subject to 8% tax. Later, 6% of the tax will be added to the DEFIY-BNB liquidity pool automatically.
Automated Burning: 2% tax of 8% transfer tax of each transfer with DEFIX will be burned to increase the value of the token.
Harvest Lockup: Unique harvest reward mechanism which will limit the frequency of harvesting. This is to keep the platform free from bots.
Anti Whale: The system will prohibit the transfer of more than 0.5% of the total token supply to prevent Whales from playing the DEFIY token price.
Deposit Fee Redistribution: DeFiFarms will charge a 5% deposit fee for each user who first logs into DeFiFarms. Later DeFiFarms will distribute this fee to the holders and a small portion to the dev team.
DEX Trading: a non-custodial trading platform that makes it easy for users to trade crypto.
Merchant Adoption: Massive adoption of merchants will allow the ecosystem of DeFiFarms to develop for the better.
Yield farming: Users can stake LP tokens to get more token rewards.
Staking: Users can stake tokens to get passive income every day.
DeFiFarms Wallet: Digital wallet developed to make transactions easier.
NFTs: DeFiFarms also supports token NFTs for ease of trading and creating NFTs tokens.
DEFIY Token
DEFIY is a native token launched by DeFiFarms and will serve as a utility and governance token. DEFIY token based on Binance BEP-20 with a total supply of 8,000,000 DEFIY. The use of DEFIY is mainly for utility and governance tokens, where users can use these tokens for various purposes on the platform such as staking, lending, or investment because along with the development of DeFiFarms, the value of the DEFIY token will increase.
DeFiFarms Roadmap
The first time the DeFiFarms team will carry out project launches and audits of the service to be able to assure users that all code written by the team is completely safe. Then the team from DeFiFarms will list in CMC, Coinecko, Dappradar, BSCScan, etc. Then launched DeFi Factory Farming and Lottery, and partnerships with several parties.
Then after that, the team from DeFiFarms will launch AMM DEX, disable All Cake LP-Farms, then add DEFIY-LP Farms, launch AMM Trading Mining, and IFO. Then to ensure that the services offered are really good, the team from DeFiFarms will perform AMM API-Endpoints, AMM Analytics, voting, margin trading, set fixed-rate swaps, and binary options.
To conclude
DeFi and NFT are two innovations in the crypto market which greatly facilitate crypto users and make the crypto market more attractive than before. These two protocols have even become a trend in the crypto market and experts predict that these two sectors are potential sectors in the crypto market. And DeFiFarms is here as a DeFi platform supported by the NFT protocol to create a stake token that is more flexible and linked to transferable NFT. The solution offered by DeFiFarms, allows users to stake tokens more innovatively because once users stake their tokens, DeFiFarms will use NFTs to wrap user stakes. If users want to unstake, then they can burn the token or trade it on the marketplace.
Connect with DeFiFarms
WEB: https://defifarms.org/
TWITTER: https://twitter.com/DeFiFarmsNFTs
MEDIUM: https://medium.com/@DefiFarmsNFTs
