Decentralized Farming

Hey guys, I have an idea that nobody has thought of yet I dont think and that is Decentralized Yield Farming. The idea would be to make a new token (FARM token) which would represent an equal share of farming in all the popular pools like curve, comp, yfi, shrimp, yams, zzz, etc… The idea is for the person to be able to spread out their risk and save them the headache of having to do all of this themselves. The contract(s) would have to be pretty complicated I guess, but essentially people could buy the ZZZ farm token and a small portion of those proceeds would go to the ZZZ farmers in pool B I guess and the rest would get automagically converted to the appropriate tokens, added to the appropriate pools, and the farmed tokens would all be converted to ETH every day and paid out to each holder in exact proportion to how many FARM tokens the hold.

Any thoughts?
Sylvan

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I have a Question, I understand that one of the main strength of YFI is that It can allow you to stake your tokens in one yield farm, and the platform automatically re-allocate your funds between pools, based on which is more profitable, giving you the max exposure to best yield without doing any effort! my Question am I getting this right? IF yes will ZZZ offer similar mechanism?

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Yes we are reviewing the code, and deploying it soon. We can expect a few farm pools coming to our platform.

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I like this proposal. I don’t know shit about writing smart contracts but if it’s possible I think decentralized yield farming would be a huge value add

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I like the OP’s idea - Yield farming DAO perhaps?

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Which DAO token do you suggest?

I think ZZZ should be our DAO token, and FARM would be the decentralized farming token. This would be a huge service that I think could bring in the masses and we would charge 2-3% of each deposit that would go to the token holders and devs of ZZZ.

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Big congrats to team amd community for this miletone achievement.

I think someone who understand that staking mechanism clearly for all pools , should make a video tutorial on staking process and expected rewards.

Also, it would be good ( from marketing point of view) to clearly mention “Balancer pool” in Pool A.
The other point is that new website link should be provided to old website link saying page has been migrated.

Also, we surely need video tutorial for newcomers on how to stake in each pool along with expected rewards and multiplier explanations

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I’m for this idea. I like it a lot.

One of the things that I hope ZZZ can accomplish is ideas such as this. 1) its a great idea and 2) it will make ZZZ stand out compared to the rest.

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Yes, agree that new tutorial videos will be needed!

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New Video Out!

Decentralised Yield Farming . Thissss

DeYiFa Sounds very appealing and catchyyy!!! Nice!!!

Agreed with idea, but can we not create a new token ? It will only further dillutes the Market Cap of our community (which was already diluted by the creation of NAP)

It’ll be preferable to use NAP or ZZZ as the token you are mentioning.

Otherwise your Decentralized Farming token would completely unrelated to ZZZ, and could well be a coin on it’s own.

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Agreed, 100%.

After further reading through earlier proposal NAP was discussed as a form of currency, currencies and tokens are two seperate Defi products. Keep the currency tokens as currencies, they are exchanged, fees from exchanges are pooled and rewards distributed accordingly.

NAPs as a currency will work to yeild capital from exchange fees, but at the same time we should burn them to start reducing the market cap which will get investors interested in going long in ZZZ, driving up the token value, as access requires increased investment, our liquidity pool grows. Burn NAPs to reduce market share and governance - and re-introduce a purpose built currency tokens later on.

Why on earth would NAP token holders burn NAPs and their gov rights and market share with it? In exchange for something scarce which brings us to the Defi gaming and numismatics markets again - :tipping_hand_woman: NAPS will still yeild pooled liquidity via transaction fees on their way out of the market to the the incinirator :fire:

  • am I understanding you correctly and walking down the same path in terms of the NAP fix issue for ZZZ token holders Lessio?

  • if the Devs would like to avoid this topic on athe public thread why don’t we all head over to the private lounge to discuss further alongside the arguably much needed oine voting governance tool launch and audit.