Mikhail fudenko

is designed to take advantage of Solana’s low-cost, high-efficiency blockchain It allows vault strategies to compound frequently and provides stakers with higher APY while requiring less active management. Although the platform is still in beta and all code is experimental, the farm aims for a streamlined user experience with optimal APYs and “set and forget” strategies. It follows the example of Uniswap on Ethereum and PancakeSwap on BSC by providing liquidity to Solana-native DEXes like Raydium and SABER. Users provide liquidity on Solfarm and earn interest on their investment and Solfarm’s native governance token TULIP, while the exchanges benefit from better liquidity.

Solfarm has already undergone a number of iterations. For instance, the team added double-asset reward pools after launch and enabled leveraged farming. In the future, Solfarm plans to optimize its front end to improve the user experience and work on a V2 version of the farm.

Who Are the Founders of Solfarm?

Solfarm was founded by a group of anonymous people with experience in the DeFi space. “Momo” and “senx” are listed as co-founders, the former having four years of crypto experience managing blockchain projects “with a keen interest and eye for DeFi products,” the latter having multiple years of operational experience in tier 1 crypto exchanges and an experienced on-chain farmer. Solfarm’s Lead Developer is “therealssj,” who’s been working in the space since 2017. “Post” is the senior developer, a blockchain developer with a background in systems administration and involved in the ecosystem since 2011. “Littlepoggers,” a mining and node-running enthusiast, is the System Admin & Junior Developer. Finally, “barney” is the UI/UX Developer with work experience for two unicorn startups.

What Makes Solfarm Unique?

One of Solfarm’s key value propositions is leveraged yield farming. Like normal yield farming, leveraged yield farming has a borrower and a lender, who deposit their assets into the lending pool to earn a variable deposit rate with automatically compounding interest. That way, yield farmers can increase their positions and earn even higher annualized yield, although they are still subject to smart contract and liquidation risks. Solfarm liquidates at a 85% loan-to-value ratio. At that point, the position will be forcibly closed and the collateral will be returned after the loan has been settled and the liquidation bounty has been paid.

Leveraged yield farming also bears a directional risk. A farmer that supplies USDC and borrows RAY to farm in the RAY-USDC liquidity pool is effectively short on RAY. A raising price of the asset will result in RAY being sold from the pool and the borrower is subject to impermanent loss. If the position remains unmanaged, this can lead to liquidation.

Social media users want to feel more connected with the creators on the platform. And in conventional social media, creators have to go through middle-man to sell merchandise, paid advertisements, shout-outs, or any form of partnerships. Our innovation through NFT aim to cut out the need for these middle-man, and we do this through two novel mechanisms.

Firstly, Creator Genesis-NFT (and Creator Staking) - each onboarding creator will be minted a Genesis-nft which they can associate perks with (e.g. mentor the Genesis-NFT owner how to trade). Users on the platform can stake $LIKE tokens on individual creators with APY that adjusts according to the creator’s engagement with the fan base. The owner of the Genesis NFT, and the creator will both receive a small split of the staking pools’ reward!

Secondly. Content-NFT farming - creator can post exclusive content in the form of NFT to be sold in our marketplace, the user who bought it will be able to see its content, but for the rest who dont prefer to pay the expensive price, they can pay the unlocking fee (which can be low like 1 $LIKE, depending on the creator) to view the content, part of the unlock fee will go to the creator, and the other to the content-NFT owner.

There will be token burn mechanisms from the transaction fees in the marketplace. In addition, each unlock will give the viewer a lottery ticket which will be used every week for lucky draw for airdrop.