Forex’s Interview with Crypto Mike Highlights


On February 20th, Forex_Shark did a YouTube interview with Crypto Mike Player One Signals. Here are the highlights:

The Piggy Bank

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The first thing Forex talked about was the Animal Farm Summary. Most readers of this will have already used the Animal Farm, but here’s the bullets:

  • DOGS is the farm reward, rewarding users for investing their LP tokens
  • PIGS is the governance token, giving investors the chance to earn owner rewards in the form of BUSD
  • The Pigpen pays out 3% daily of the BUSD Vault value. The vault increases at a rate larger than 3%, so BUSD rewards are expected to grow on a regular basis.
  • The Animal Farm has a dynamic emissions system, which has changed as the value of PIGS and DOGS has decreased.

A lot of early adopters to the Animal Farm came as a result of the intense marketing, and don’t follow the Telegram, don’t know Forex, and were expecting quick pumps and profits. They have been the ones selling the DOGS and PIGS. Forex believes the price of DOGS and PIGS have stabilized, due to the core users staying firm and the dynamic emissions doing their job. The telegram went form 25,000 users to 60,000 users in the week of the Animal Farm launch.

Then, Forex went into the mechanics of the Piggy Bank.

First, it’s based on both the DRIP Garden and the HEX protocol. Here’s the breakdown.

  • The devs followed the Shrimp Farmer and BNB Miner when they launched.
  • Both of those platforms follow a similar model, and will use the vocabulary used in the DRIP Garden for reference:
  • Investors purchase plants. The plants, once purchased, are forever owned. In the original sites (BNBMiner, etc), the dev team would make enormous purchases prior to launch, thus allowing the contract to run. However, this meant that even early investors were already late to the game. The devs owned the vast majority of the buying power, had tons of plants, and it was impossible for anyone to catch up. The devs would keep compounding, further strengthening their massive positions. And, when they noticed that the contract balance was starting to decrease, they would begin withdrawing their massive payouts, and the platform would tank.
  • Forex and company wanted to fix this model. There are two significant innovations in the DRIP Garden. 1) The dev team created an artificial initial purchase for the contract. That allowed the contract to begin with balance, but it wasn’t an actual purchase. [I personally wonder at the mechanics of this!] This means that initial investors were not already behind the massive dev team balance. 2) They created a multiplier system that allows for late buys to buy in with the same (essentially) buying power as initial investors.
  • This system is far more fair and far more sustainable.
  • Users have commented in the TG group that their plant value is going down. Forex said this is by design. Essentially, in order to keep up, users must continue to compound regularly, harvesting every once in a while.
  • When the contract balance decreases, which it does at times of new launches, as investors save their assets for other purchases, it soon because more attractive for new buyers due to flattening of buying power curve.

The new endeavor, the Piggy Bank has some innovate features:

  • Users can earn up to 3% ROI on their principal.
  • The principal is increased through a user-selected timelock.
  • The Piggy Bank is a great investment for users who want to be in the ecosystem but not take part in the ownership.
  • In the Piggy Bank, investors use PIGS-BUSD to stake. This increases use for PIGS without selling.
  • Investors can have multiple stakes in the same wallet, each with a different selected time lock.
  • There is an emergency end stake, but there is a reward penalty. If a user uses this emergency unstake, their reward penalty is dispersed amongst all other stakers.
  • The rewards are non-linear, with the bulk of the rewards coming in at the end of the time lock, further incentivizing users from early withdrawal.
  • Users can add PIGS-BUSD LP directly on the Animal Farm right now, but selecting “Liquidity”.
  • There is a referral system for the Piggy Bank, and it uses DOGS as its referral token. The analogy here is the BR34P token used for DRIP. In this case, the more DOGS a user has staked in the single-asset pool on the farm, the higher percentage referral rewards they can get.
  • The Piggy Bank is basically done, with a hinted-at (but not confirmed) launch date of Tuesday, March 1.

Some other mentions of future partnerships and things to come:

  1. There is an upcoming partnership coming where users may be able to user their DRIP as collateral for a loan. They would keep ownership of their DRIP, and use the DRIP 1% rewards to gradually pay off their loan.
  2. There is an upcoming partnership with Loot, an NFT protocol. Using DRIP as the core asset, users can purchase NFTs and the NFT will be cross-chain with the ERC-20 and Binance Smart Chain networks.
  3. A lottery game is coming. Users can purchase tickets using DOGS and/or PIGS, with the dev fees being used as the rewards. There may be possible purchases of tickets using BNB and BUSD, but at a higher cost.
  4. More games may becoming.

The biggest takeaways are that we are still extremely early in the DRIP/DOGS/PIGS ecosystem. There are many more things on the horizon, and when all of these things are in play, things are going to get very exciting for TheAnimal.Farm and Drip.Community!

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Q: Where can I go to learn more about yield farming and The Animal Farm, including APRs, Emission Rates, etc?
A: Check out these great articles below. If you find this article helpful, please consider using my referral link when you use the Animal Farm. Most Animal Farm users have not used a referral link. It’s free, is no risk to you, and can really help me to continue to write helpful articles! Please clap and respond if you have ideas for future articles!

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