Master Farmer’s Crops

Master Farmer’s CROPS

By Ghost Carapace (One of the most important members of the Master Yield Farmer Project)

In decentralized finance, we have seen a large number of projects come and go. The latest craze has been the advent of the sushi clone and the “governance” token. Now, these governance tokens let people vote, but many times they are poorly diguised and follow an old story. They let people stake the native token with eth to provide liquidity. Then, they print an infinite supply of tokens, and the people who arrive last to the party get to have the tokens of the people who arrived first to the party, and the first people to join get all of the ethereum of the last people to join. In short, they are shitcoins, ponzi schemes, and a terrible investment.

However, what if these schemes could be fixed? What if there were some other project that could work with the existing projects to stop dumping, and to instead encourage people to hold their tokens? This would stabilize the various coins… to a degree. Nobody can stop a token from printing itself into the dirt if they want to print with abandon, but for a second, what does such a project look like?

This project would encourage people to stake their tokens with a new token pair OTHER than eth. The token they stake with, would be worth money, and it would be issued freely to people who are already invested in other projects. People are highly defensive in DEFI (and for good reason) there are many scammers and competing projects that try to steal mindshare, but more importantly marketshare from one project to another. Many in crypto treat the entire industry as a zero sum game, with no room for collaboration.

Most important of all, people would invest in this token because the token itself is going to increase in value, and yet…. somehow it needs to mint more tokens. This seems to be contradictory, unless we reexamine what we need to do with the supply. We need to issue tokens, and we need to remain at a steady or decreasing total supply. This sounds like a tall order. But, there are tokens that change their supply. What if we were to destroy 1% of every single token we issued every single day?

So, our hypothetical perfect token would both print new tokens, and readjust its total supply down. But, can we juice this further? As the velocity of the token increases, can we make the supply even lower? I believe we can. There are tokens that burn 2.5% of every single transaction. And with that, we have a token that has the underlying mechanics needed to incentivize farming. This token is called Crops.

But, this is not complete without one last piece of the puzzle. Restaking pools, and growth pools. A restaking pool takes liquidity tokens from a sushi clone style project (for example rottenswap.org) and it lets people stake those tokens with this new project. Then, the new project restakes those tokens with rottenswap. The farming contract then rewards the new tokens along with the old rottenswap tokens, and lets people harvest both tokens.

Now, people have two tokens. Crops tokens, and Rot tokens. They can sell their tokens for eth, or they can toss their new crops tokens in the Crops/Rot growth pool to get MORE crops. Now, crops decays over time. Specifically, the supply of all crops is reduced by 1% per day. What this means is that in terms of rot, the value of the crops token will continue to increase. But, this isn’t just happening with rottenswap’s tokens.

Crop’s goal is to restake against every other sushi clone (and a few projects that mint tokens for liquidity providers, but aren’t sushi clones) The crops project is symbiotic. As we pull tokens out of circulation with other projects, the prices of those projects (and the prices of crops) both go up. At the same time, people who are farming with the project see the value of both their liquidity pools increase as well as the value of their daily dividends. People will also be incentivized to add eth to their underlying pairs like rot/eth, nice/eth, pickle/eth etc. As the value of the tokens that crops restakes rises, they will attract new buyers and investors, and the total marketcap of all tokens will rise. This is how crops will save the defi industry, and the myriad of sushiclones.