Three layers of yield farming possibilities sprinkled with an exclusive airdrop
HoneyFarm Finance is a layered yield farming project on Binance Smart Chain with some unique tokenomics. To celebrate the beginning of its third phase of activity and the launch of its MOON token we invite you to join the DappRadar MOON Airdrop.
Layered farming gives investors more options to diversify their investment strategy through unique tokenomics. Layer 1’s native token, HONEY, stopped emission at the end of block 10033450. Layer 2’s native token, BEAR, started its emission at block 10023280. Now, HONEY will be used to farm BEAR.
While this layered system may at first appear confusing it’s quite a simple premise and has allowed the platform to test out different approaches to token delivery whilst at the same time fending off potential bot issues that arose in the initial layer 1.
Addressing Yield Farm Restrictions
The team at HoneyFarm states that there are limitations to any yield farming project since deflationary mechanisms can’t beat natural inflation. They claim that features and tools only delay the lifespan of a project but there’s a certain time that inflation overwhelms the burning rate. Looking for a suitable solution the team came up with a model of deflationary tokenomics with limited supply using a layered farming mechanism. With the aspects of limited supply, inflation will be limited and deflationary mechanisms will be more effective so that the price of a native token can be more stable.
From the start, the project was upfront about the total supply of the native HONEY token to allow potential investors to plan and build strategies to try and achieve maximum profits. To learn more about the integrations of the first layers you can visit HoneyFarm’s medium channel. This article is all about the upcoming layer 3 and $1000 MOON token giveaway starting on the 6th of September.
Launch of Layer 3, MOON
With the BEAR layer 2 token emission ending around the 4th of September. The launch of HoneyMoon and the MOON token marks the third phase of the journey. MOON, the layer 3 native token emission starts on the same day with the exact block to be announced soon. Importantly, HONEY and BEAR tokens will still be around but users will now be able to farm MOON tokens in several ways, including with HONEY-BNB, HONEY-BUSD, HONEY, BEAR-BNB, BEAR-BUSD, and BEAR. Perhaps more interesting is the mechanic by which the 3rd layer will be delivered.
HoneyFarm is going to host a Pre-IHO (Initial Honey Offering) for the MOON token before the start of HoneyMoon. Whereby users will need to commit HONEY-BNB or BEAR-BNB Liquidity Provider tokens to get the new MOON token.
When delivering layers 1 and 2, as previously mentioned, the platform went through a tough battle with bots that were trying to take unfair profit over normal investors. In order to try and give equal and fair opportunities to all users, especially HONEY and BEAR holders, the idea of a Pre-IHO was conceived. In a nutshell, all users who participate in the Pre-IHO will get MOON tokens at the same price and with the option to pool and instantly start earning an APR.
The idea of an IFO is not new and has been employed on other platforms by other names, such as IAOs (Initial Ape Offerings) on ApeSwap. In a nutshell, it’s a gateway for newly launching projects to get funded and an opportunity for the token holders to invest in new ideas that could become mainstays. Once again, it can sound confusing but it’s quite simple. A new project gets funded. HoneyFarm burns MOON. Users get the new tokens.
Moreover, An Initial Honey Offering (IHO) from HoneyFarm Finance is a fundraising vehicle utilized to launch new tokens and bring liquidity to those tokens. In general, users need MOON-BNB to participate in an IHO on HoneyFarm. Essentially you are trading those LPs for the token being launched. In an IHO, the project gets the BNB, HoneyFarm burns the MOON. Basically, the more you put in, the more you will get. Importantly, you’ll get back anything that doesn’t get spent.
Exclusive DappRadar MOON Token Drop
The exclusive MOON airdrop will start on Monday 6th September here on DappRadar and entries will be collected for one week. After which time 100 lucky winners will be randomly chosen and gifted a share of $1000 in MOON tokens.
Connect with HoneyFarm
Global Telegram Announcements: https://t.me/HoneyFarmAnn
Global Telegram Chat: https://t.me/HoneyFarmChat