Farming

So far investors used to yield on bonds or dividends, but with DeFi’s involvement in crypto finances, yield farming has provided this reward scheme for holding the tokens in specific farms. Thus allowing to use of this token liquidity for further DeFi implementations.

In order to set up a farm, a farmer needs liquidity pools and a liquidity provider

Liquidity Pool

This is the smart contract and It is responsible for powering a DeFi project where users carry out several procedures with their tokens, including borrowing, lending, and exchanging. You've locked up your funds in a pool, you will get fees that have been generated from the underlying DeFi platform or reward tokens.

Liquidity provider

Liquidity providers are those investors or users who provide their funds to a liquidity pool (smart contract), which is responsible for powering a DeFi project where users carry out several procedures with their tokens, including borrowing, lending, and exchanging.

In our system, we will allow farming which initially will be supported over Polygon (Matic) network and further supported to other chains. A mechanism that allows us to bring new, exciting products to the chains which we support. In Barn’s Finance, we will offer a user to bring the tokens from different chains and use them for yield farming within our platform.

However, we are not limited to keeping the tokens pairs available. As there are more factors that need to be considered so support for other farms can be provided through this system. So Barn’s Finance public checkpointing layer supports multiple side chains that can be working under the secured and decentralized layer of checkpoints. Businesses can have their dedicated side chains connected to the public checkpointing layer having full control of their execution environments, while still retaining the immutability, provability, and security of transactions via the checkpointing mechanism.

As users get support from Barn’s Finance so that product teams can focus on development and further the roadmap while we handle creating liquidity exposure for your preferred token and it will be easy to manage.

Following is the list of chains we are going to provide support for in the future.

• BSC

• KCC

• Fantom

• Avax

Advantages of farming with Barn’s finance

Timelock (24 hrs)

The major concern of yield farming is if farm owners can take out all the liquidity at any given time which provides a kind of centralized privilege to one person. Sometimes exploits in the form of bugs within the farm may also result in the attack which allows its attacker to drain the liquidity, Which is bad for a decentralized application like yield farming. We will provide a timelock contract while creating the farm.

This means if the owner asks for access to the vault, he/she will have to provide his key as security before accessing the vault. Once the key is provided after a certain time the owner will get access. Thereafter access will be provided once accessed, the owner tries to take out any liquidity this vault will get locked for a certain period again, and after a certain time transaction will be processed. This type of delayed process provides enough time for the other users to observe the activity and can be alerted if anything suspicious is happening.

Although it has some downsides like the time needed to transfer the liquidity to DeFi applications, to overcome that we have added a reputation algorithm that will allow farm owners to speed up the transactions with positive feedback from the farm users. This will be a unique feature that ensures security without taking any toll on performance.

Antiwhale lock

A crypto whale is a person who owns large amounts of the cryptocurrency and has the power to move the price with a mere swish of their tail -- or, more accurately, with a single trade. Means like with capacity to purchase a cryptocurrency or sell in large amounts may result in market volatility.

This volatility of the market provides an insecure feeling about the market to its small and medium investors. Which further leads to the instability of the project. To avoid these types of issues and provide security to BFP’s investors we will be providing a lock mechanism that will restrict sell and buy orders with certain limits. Thus it will not create FUD amongst the investors.

As of now Any transfer with more than 1% of the total supply will be rejected. As the total supply grows, this ratio will be reduced, so this number will change.