Do you like animals? Yes? Nice! Me too. But uhm, tell me… do you like DeFi, and passive income streams? Yes? That's what I thought. Me too! Now you must be thinking what are you talking about? And I will try to explain that in this blog.
Source: The Animal Farm
George Orwell
To explain that, you must first take a look at a book once written by George Orwell. A movie was also made of that book. Several movies to be exact, the first of which is 1954, (Yeah that's an oldie, and well before my time too), but no less interesting. The last one was made in 1999. You can say not the youngest either. But still ... the subject is certainly very topical these days!
And in this day and age, the DeFi days begins the story of;
“The Animal Farm”.
Now I must first tell you something else, rather, ask! Have you heard of @Forex_Shark? If you know him, great! If you don't know who that is yet, I'll explain it briefly.
This Forex_Shark is the founder of Drip. And Drip is a deflationary system on the Binance Smart Chain where you earn 1% every day on what you deposited, up to a maximum of 365% of what you deposited. Keep in mind that you have lost the amount you deposit in the first place! But you do open your own tap with it, and from that tap comes a drop every day worth 1% of your drip total. The minimum amount you can deposit is 1 Drip, which at the time of writing is approximately $134.
In your account you can see what you have deposited, you can see what you have claimed and of course you can see what you have left. If you now make a deposit of say 1 drip for convenience, and then do nothing for 365 days, then after 1 year you will have 3,285 Drip that you can withdraw. Depending on what the price of Drip does, you have a nice profit, or if things go against you (let's be honest), played a draw or made a loss.
You should keep in mind that at Drip every transaction is taxed. And it should be because that's where all Drip payouts come in for everyone today. A deposit will cost you 10%, so if you start with 1 Drip, you will receive 0.900 Drip in your account after paying the tax. And that's where your journey begins. Every day 1% of the 0,900 drip. A claim will also cost you 10%, and if you sell Drip it will cost you 10% as well. The tax is therefore very consistent. But there is an exception to this. If you Hydrate, (Compound), it will not cost you 10%, but only 5%. And what you achieve with this is that your daily drip will increase. But the total amount of drip you can get also grows proportionally. And that's where it gets interesting. Drip also has a referral system that allows you to grow even faster, but to be honest I haven't even dived into that yet. So explaining that might be for a later post. I didn't really want to talk about drip at all. But yeah, trying to explain who Forex_Shark is, I couldn't help it.
To find out everything about the genius system he has set up with DRIP I recommend reading the Whitepaper of DRIP . And if you decide to have your own tap to tap 1% every day, here's a referral link.
Earn like the rich men
But now, now this Forex Shark has set up something new. A way for everyone to earn like the rich on earth, without ever having to sell your underlying assets. At least that is how it is presented. Time to check what The Animal Farm is about.
Where I first go back to the film from so long ago, the book. The animals that have the power. The drunken farmer is forced out of his farm by a real revolution, and the animals take over power on the farm. At the head of all animals, the pigs!
The farm dogs control all other animals and get their orders directly from the pigs. The first rule the farm started with was that all animals were equal, and a little later changed to, all animals are equal, but some animals are more equal than others”. And that brings us to Forex_Shark's new DeFi project.
The Animal Farm
A lot has happened, first the success of Drip, then the run-up to The Animal Farm with preparation for this farm, The Manor Farm and a big Pre-Sale. All successes, and expectations were high for the launch of The Animal Farm. No one really knew what to expect, but it was certain that many people saw themselves getting rich overnight. The disappointment was therefore great for many! Incredibly large, and that resulted in a sell-off of PIGS (the Governance token of The Animal Farm) & DOGS (Native Farm Reward Token from the Animal Farm). But was this disappointment justified?
Let's take a look at how The Animal Farm works!
And here I'm going to keep it short, because I can describe the white paper here. That just doesn't make much sense at the moment. Not now that I just see in the Telegram that Forex_Shark is wrapping up a new Whitepaper! With a new contract for the Pigs, which will also affect the Dogs and eventually the BUSD payouts for anyone who puts their Pigs in the PigsPen.
Pigs & Dogs
But a very short description could be. You enter the farm, with any LP, Native token farms have no deposit fee. Although you do pay a tax when you buy Dogs from PancakeSwap. You put your LP in the farm, and you are rewarded with Pigs, IF you farm in one of the 3 farms that give Pigs as a reward token. Most farms give you Dogs as a reward. And it is precisely the Dogs that you should actually see as the workers who give you Pigs. Because those Pigs, there's something about that. As mentioned, it is the Governance Token of The Animal Farm, every Pigs owner is in fact a part owner of The Animal Farm.
And of course there's the PigsPen, you stake your Pigs there, and get BUSD rewards! That's not all. It seems at first that the PigsPen's APR isn't high at all, but that's where appearances deceive you. Because the PigsPen is Time Weighted! The BUSD vault, which already contains several million dollars, will continue to grow! Because of the ingenious system that Forex_Shark and his team have devised by sending a part of the tax from every sale and purchase to that BUSD vault. And this will eventually grow your BUSD reward. Basically, it's a circle that you can take advantage of if you play the game right.
It's hard to explain now. It's still very new, and maybe it was a bit overhyped too, but it's definitely a play to watch for the long term. Not a get-rich-quick scheme, but a long-term play!
If you're interested in diving into this now, do it now... BEFORE the price rises so high that you can't take it anymore, and each day you spend longer in the PigsPen gives you more BUSD rewards, which you then spend somewhere else otherwise you can use it!
Posted Using LeoFinance Beta
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