Dear POP! Town,
As per our roadmap article, which you can find here, creating sustainable and effective utility for the POP! Token is vital for the growth of this project. From this, we developed a unique staking feature called Candy Farms.
Given that we’re nearing the launch of these signature Candy Farms, we will be releasing informative articles in order to help our community fully grasp the concept behind Candy Farms, and how they provide a sustainable model for all POP! Ecosystem participants.
In this article, we will elaborate on what a Candy Farm is, how it works, and what’s to come.
What is a Candy Farm?
In simple terms, a Candy Farm is a pool where users will be able to stake their POP! Tokens in exchange for 3rd party tokens, as a reward for staking their POP!. These farms will originate from the inception of an MLP. In other words, when 2 projects create a Mutual Liquidity Pool (MLP), they will also generate a Candy Farm consisting of their native tokens.
How does a Candy Farm work?
Simplicity is key — and therefore, we’ve made sure that it’s as easy as taking candy from a baby. In this case, should a user wish to participate, all they need to do is select a Candy Farm of their choice (i.e., they would like to farm Token A, therefore they choose Candy Farm A), stake your POP! and voilà — you are now earning sweet rewards!
These Candy Farms will run for the duration of the associated MLP. In other words, if MLP AxB is running for 90 days, then the associated Candy Farms will run for the same duration! The quantity of the rewards in each Candy Farm will depend on the amount provided by the projects, however, there will be a minimum requirement defined, in order to ensure it is attractive for POP! Holders.
As you can imagine, this slightly changes the original POP! Farming model. Previously, users would farm POP! Tokens as well as the bonus tokens (3rd party) directly from participating in the MLP. Now, users will only farm POP! Tokens in the MLP, and in order to earn the sweet 3rd party bonus tokens, users will need to stake their POP! Tokens in the Candy Farms.
In our next article, we will elaborate on the math behind this decision, and how this ultimately creates a far more sustainable model for all ecosystem participants, especially the POP! Token holders. So make sure to keep an eye out for our next article on this!
And as always… Keep it Poppin’!
POP! is a platform that allows 2 projects to objectively display mutual trust and commitment to each other, by locking their respective tokens together and creating a trustless Mutual Liquidity Pool (MLP). In addition, it grants POP! users the opportunity to provide single-sided liquidity, in the form of their favourite token, by matching them with another POP! user and adding their joint liquidity into the MLP.
Powered by Faculty Group, POP! aims to set a new golden standard with regards to partnerships, and how they are perceived in the digital asset ecosystem.