At present, the DeFi world has returned to a rational and stable period after the exciting and climax of September. In the past time, it was more of the capital Carnival Game of the whale people. Many small retail players, faced with expensive gas fees, could not make their profits cover the gas costs.
After that, many star DeFi projects emerged, such as Sushi, Pickle, Harvest and other star mining projects, which made DeFi a qualitative leap. Many projects have entered a shrinking period after hacker attacks and other reasons.
On August 25, 2020, YFV project staking contract bugs, encountered blackmail incident, no direct loss, but great impact.
On September 30, 2020, the Pickle project broke out a number calculation bug, which did not cause direct loss, but once made the currency price fall.
On October 20, 2020, the harvest project was arbitraged by hackers using flash loans and price fluctuations, resulting in a loss of 34 million US dollars.
On November 15, 2020, valuedefi (formerly YFV) MultiStablesVault pool was attacked by hackers due to the poor price fluctuation in the pool, resulting in a loss of nearly $7.4 million DAI.
On November 22, 2020, pickle project was hacked by hackers to steal nearly 20 million DAI by using a very magical and complex vulnerability, which directly drained the whole DAI pool funds.
There are also many other recent cases. Without listing them one by one, our core team has analyzed the corresponding events one by one.
We summed up a truth: simplicity is perfect, simplicity is safety. The above projects do not deny that innovation is really great, but good innovation often has to pay a very high value, which is worth our thinking. After all, we are carrying the hard-earned money of users and creating high profits for them
On the basis of these excellent projects, we review code security and re-integrate a set of DeFi aggregator protocol belonging to FarmLand. The code inspiration comes from these excellent projects and community suggestions.
🧰 Official resources
🎱 Our faith: Simplicity, Safety, Create high income!
👏 Looking forward to your participation!
In various DeFi mining projects, we provide stable and safe income financing mechanism for farmers by means of aggregation, so as to save more gas expenses for small investors, and let every farmer feel the charm of DeFi easily and freely. At the same time, we should also put the security of funds in the first place, so as to ensure the safety of users’ funds when they are convenient to use.
Simplicity is safety!
With the launch of the project, we issue a governance token $LAND, which mainly provides real income for all users, whether you are a big whale or a small investor. Later, when we start the governance module, we use it as a governance token to have the right to vote, and finally let the project be fully dominated by the community.
Token and emission plan
The total supply of $LAND is: ~ 741063, and it is not allowed to be minted. Token emission in the first week: ~49605
Token emission in the second week: ~38700
Token emission in the third week: ~36533
Start the second week, the linear decrease of 5.6% per week is expected to be completed in about 196 weeks.
75% of the $LAND token: awarded to mining farmers and market makers on UniSwap.
12% of the $LAND token: belongs to the development team to support the team’s sustainable development and iterative products.
10% of the $LAND token: belongs to the Treasury reserve fund management, used for audit, product operation and promotion expenses.
3% of the $LAND token: belongs to the vault to purchase insurance and protect our products.
This is a Community governance projects. has no VC or investors.
Launch time currently TBD, more info to follow
🏊 Investment of vault pool
Through a series of stable investment strategies, our vault pool continuously earns income for farmers and returns 70% of the investment income to users who provide capital. 28% of the investment income will be allocated to users who staked $LAND in the Reward Sharing Pool. The remaining 2% of the investment income will be deposited in a dedicated insurance fund for insurance purposes. We will not charge any other fees for taking and withdrawing assets, nor will we draw a percentage from the mining income.
⚒️ Mining by locked
For the first time, we provide stable currency, BTC and LP pool mortgage. From these pools, you will earn more land. The specific allocation plan is as follows:
The communities of FarmLand have the right to change the parameters of the protocol. Based on the voting system on the chain, the communities discuss and formulate the corresponding development plan, so as to realize the self governance of the community.
Audits: None. FarmLand creators are experienced DeFi and Blockchain developers and have spent a great amount of effort to ensure the security of the contracts, including forking the codebase of well-audited projects as well as soliciting review from experienced friends. As such, there is no formal audit at this time. We STRONGLY urge caution to anyone who engages with these contracts. We shall consider a proper professional audit in the next phase of the project.