Project Overview
An overview of the SnowFlake.Farm Project!
Hello friends, thanks for checking out my project. SnowFlake is a unique take on classic degen farming. I wanted to find a way to create a deflationary farming project that would reward users for holding and farming with the token. The protocol prioritized stakers and the tax discourages selling which helps alleviate selling pressure.
Token
To help offset the emissions I decided to have the farms token have a 5% burn so each time tokens are transferred or bought and sold 5% is removed from the total supply immediately. Another 5% is reflected into our FeeProcessor contract which Resells the token for WAVAX and funds the single sided $FLAKE staking pool. This makes for a total of 10% take on the token which has an added benefit of reducing the selling pressure, here's an illustration that shows how the taxes on $FLAKE operate:
WAVAX Rewards
Using this setup gives us a unique opportunity to let our users single sided stake their $FLAKE and earn $WAVAX. This is a bonus because this also reduces selling pressure by giving users a worthwhile opportunity to utilize and earn from their FLAKE instead of dumping their rewards. The number of WAVAX distributed is directly proportional to the amount of transfers, buys, and sells that are being incurred. The more volume on $FLAKE, the more our users earn from the single sided staking pool.
FLAKE Emissions
In addition we also have both Farms (LP Staking) and Pools (Single Sided Staking) available that earn $FLAKE emissions. This allows us to have some fun and generate some degen APR while also putting more FLAKE in our users hands that can be deposited in and start earning them WAVAX. At present we have two pools, and are keeping the emissions fairly low by choice. In total we're currently minting 2,750 $FLAKE per day. So far we've been burning more FLAKE than we're emitting, making us a deflationary farm! Intrigue. Here's a break down of the current Farms & Pools with FLAKE below
Thanks for taking the time to check out what I've built! It has been a fun project to put together and I look forward to thinking up more interesting ways to further develop the project. If you haven't gotten a chance you can hop in our telegram and visit us at SnowFlake.Farm
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