Recently, Blizzard is making the rounds as a leading yield farming platform. Blizzard is experiencing rapid growth and there is no sight of slowing ahead. As such, the platform is set to release a new, more improved v2.
The term “yield farming” is the process of generating rewards from cryptocurrencies. It is also known as liquidity mining; related to staking. There are tons of yield farming projects under the Binance Smart Chain (BSC) framework. We will look at one Blizzard.Money which is growing considerably, gaining massive adoption, and also looking forward to unleashing a new and improved version.
Blizzard Money Explained
Blizzard.Money is a fair launch staking and yield farming platform on BSC that borrows aspects from Goose Finance and PancakeSwap. The platform utilizes PancakeSwap liquidity and doubles as a decentralized exchange (Dex).
The platform has a reliable team of professionals called Yeti. The Yeti team believes in yield farming and have the added advantage of working for several years in the crypto markets. Its native token is known as Blizzard — BLZD, used for liquidity incentives.
The platform is looking to make its protocol even better than what it is now with its intended release of a better-improved version. The question is, why the new update?
Blizzard Money v2
After collating messages from Telegram and Twitter, the yield farming platform has decided to release a new update.
The major problem most new yield farming projects face is price stability and further innovation. As for Blizzard, when it was launched, they had the support of the BSC. The platform was overwhelmed by the amount of growth it accomplished — $70 million in Total Volume Locked (TVL) and a token worth over $150. What more, this accomplishment was the team’s long-term goal on its roadmap.
In a bid to keep its customers amidst the problem of stability, the platform has sought ways to optimize its infrastructure. Therefore, the Blizzard v2 update suggests that the platform wants to keep up with its ambitious plan and revamp its system.
What will Blizzard v2 Bring?
The new update, according to the platform, will tackle inflation. This will be accomplished by using existing strategies but with a slight change. The new update is going to make use of deposited assets rather than them sitting idle in the Masterchef contract. Users LP tokens will be used to earn yield on a 3rd party pool. Using the yield the v2 contract will purchase BLZD and freeze (burn) it. This unique feature incoprates a deflationary mechanism using assets that are idle. This feature aims to offset the inherent inflationary aspects of BLZD.
Uses can still expect the same operation as they will still receive scheduled yield regularly. To further combat inflation, block rewards will be reduced to 1 BLZD as it now comprises team/project emissions. Similarly, user farm emissions will decrease to 0.912 per block. For all this to be achieved, the current Masterchef cannot be used, so an update to a Blizzard version 2 is necessary. Upon migration, Blizzard Money will be more sustainable, stable and the risk of inflation will be curbed. That said, as the new xBLZD becomes deflated, its value should increase due to mass usage. However, the volatility of the crypto market is not one to be too sure of.
In summary, here is what the new update will bring:
New farming and revised staking pools.
New multipliers on the existing pools.
xBLZD emissions will be reduced slightly per block.
0.912 for pools.
0.088 for project development.
Blizzard v2 New Staking Pools
The new staking pools will leverage their existing partnership networks to give high-yield pools within a given period. According to the platform, the pools will be opened within 7 to 14 days to increase participation. In the future, Blizzard will also make attempts to create locked native staking pools for a fixed APY.
Even with all the changes that the new update will bring, some things on the platform will remain unchanged, and they include:
Same front-end design.
BLZD -> xBLZD at a 1:1 conversion.
Same development team.
Same Telegram room and mods.
Same marketing team, pumping out the updates/memes/contests.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.