As a result of the launch, the PIGS token has rallied nearly 10% in the last 24 hours, taking it past the $200 mark yet again.
Multiplier Placed on Stakers Principle
The Animal Farm gets a new product on the platform that enables daily rewards for participants and contributors.
Drip Community’s Twitter account revealed on March 5 that the highly awaited DeFi product, The Piggy Bank, has launched successfully on The Animal Farm. The non-inflationary variable time staking annuity allows users in the BNB ecosystem to stake PIGS/BUSD liquidity provider (LP) tokens in order to earn a return of investment (ROI) of up to 3% every day.
Additionally, below are the key features of The Piggy Bank:
The user’s principal is increased using a time-locking multiplier.
Stake airdropping functions – Enables users to gift stakes to friends and family.
Ability to end stake early: In case of an emergency, users can end their stake early, in which case 100% of the penalty paid goes to other stakers that didn’t end their stake early.
Ability to have multiple stakes from the same wallet to execute convenient lock-up strategies.
Referral Commission Structure: Reward mechanism based on DRIP’s BR34P dependency model with a Fibonacci sequence progression which entails the referral % vs. DOGS tokens staked is from 1% for 2 DOGS and 5% for 13 DOGS.
To unlock the referral bonus, users will need to have DOGS tokens staked in the single asset staking pool. The annuity product’s ROI increases exponentially over time instead of having a linear yield curve. As per the official Animal Farm website, the platform intends to launch 2 new products, namely, Lottery and Vaults, soon.
What is Animal Farm?
Animal Farm is a completely decentralized ownership yield farm/lending protocol in which users are the owners of the network. The protocol is heavily inspired by George Orwell’s renowned satirical novel first released in 1945. The Animal Farm ecosystem has two native tokens, DOGS and PIGS. The former serves as the native farming token of the platform, while the latter is the governance token of the platform. Users can stake PIGS to become an “owner” of the farm, and the token has a 3% tax on sell transactions in order to incentivize users to HODL the token in the long term.
Find more about the Animal Farm here:
Website | Whitepaper | Telegram |
Source : bsc.news
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