Rising upstart coin Schnoodle is continuing its ascent up the crypto charts with an announcement about their Moon Farming Platform (MFP). Yield farming has been a thing for a while now, but Schnoodle has come up with a proprietary algorithm that gamifies the entire process to, and is designed to automate the APY and pool funding to optimise the yield for all farmers. With MFP, investors only need to focus on a single pool and the only decisions they need to make are how much and how long. The basic principle is simple. Because Schnoodle charges a unique 4% sell tax (sow rate) that goes directly to the farming fund, the only way the numbers can go is up.
“Although the algorithm sounds complex, its effect of it is quite simple. The more you deposit and the longer you farm, the greater proportion of the farming fund or gross reward you receive. This is calculated linearly. The longer you lock your deposit for both before withdrawal (vesting blocks) and after withdrawal (unbonding blocks), the greater the multiplier is that will be applied to your gross reward giving you your net reward.” – A spokesperson for Schnoodle.
Schnoodle aims to ensure the platform is fair to early moon farmers by locking the calculated multiplier into their initial deposit. This means it won’t decrease later if subsequent farmers decide to lock in their deposits for longer or drop bigger deposits pushing up the lock product weighted average (LPWA). Because of this feature, early farmers won’t suffer a loss in APY. APY can still be affected by the sheer volume of farmers in the fund, but since more farmers are likely to be attracted by more sellers due to the sow rate, Schnoodle predicts the natural tug between the two will nudge the APY up. In short, the more sellers, the higher the APY and the more farmers the lower the APY. The beauty of the Schnoodle platform is that farmers can compensate for this shift, by locking their deposits in for longer which positively affects the proportion of the fund they can receive. In other words, loyalty breeds reward.
Schnoodle’s entire system can be explained via their nifty acronyms. First up, there’s BARK, or Blockchain Automatic Reward Kickbacks, which fuels the whole process. Next, there’s the colourful ASS, or Automated Superyield System. It’s ASS that tops up the farming fund with new tokens, but it has another function too. The ASS Burner is a clever deflationary measure that essentially burns the difference between the gross and net rewards received by the moon farmers.
The key to Schnoodle’s Moon Farming Platform is balance. As long as everyone does what they’re supposed to and the balance between holders and seller is right, the numbers go up.You can read all about Schnoodle’s Moon Farming Platform in their whitepaper or follow them on Twitter.
