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Highlights
- The Animal Farm (PIGS) crypto is primarily a unique deflationary token that offers an extensive yield farming or lending opportunities to its users.
- Launched by developer Forex SharkSifu, the crypto comes with two native tokens -DOGS and PIGS.
- Operating on Binance Smart Chain protocol, the project has been grabbing the attention of investors ever since its launch on 3 February.
The Animal Farm crypto is primarily a unique deflationary token that offers an extensive yield farming or lending opportunities to its users. Operating on Binance Smart Chain protocol, the project has been grabbing the attention of investors ever since its launch on 3 February.
Launched by developer Forex SharkSifu, the Animal Farm crypto comes with two native tokens DOGS and PIGS. It aims to capture the financial power of the users, which they can utilise for farm yields or other lending protocol purposes. According to the project’s whitepaper, SharkSifu, who is the developer of DRIP protocol, is one of the strong backers of the Animal Farm project.
What is The Animal Farm Crypto?
Through the DRIP Network, the Animal Farm investors can gain exposure to a bigger and wider domain through shared marketing plans. Besides, the farm could also incentivise the farmers to bring the BUSD liquidity to Drip Network.
Also read: Why is Immutable X (IMX) crypto trending today?
The investors who participated in the farm’s Layer-1 token presale were automatically accepted in the Layer-2 presale.
Image credit: © Bychykhin | Megapixl
Key features
The Drip Community partnership provides the opportunity to The Animal Farm crypto users to stake DRIP-BUSD on Layer-2 and in turn get PIGS tokens. The users can farm the PIGS tokens by using their assets as collateral. Through this the users can make the most from the BUSD by opening to a wide range of high-yielding dividends without the need to sell the underlying asset.
The Animal Farm crypto stakers can earn rewards through the deposit fees, which the users have to pay. Besides, the PIGS stakers also get voting rights by future governance of the protocol. In the Layer-2 pool, almost 75% of the deposit fees can be converted to BUSD, which is primarily used as rewards for PIGS staking. Another 15% is utilised by the marketing team, and the rest 10% is allocated as platform fees.
Also read: Why is FORTH crypto making headlines?
The staking of the tokens takes place on PancakeSwap, which allows them to earn additional yields. Besides, the Animal Farm has unique functions, such as decentralised supply control and first-mover advantage.
Is it real?
The project is new on the horizon, but it lacks significant information. Besides, not much is known about the project as of now. But according to dexscreener.com, the token has seen a significant rally of over 117% and was trading at US$2.30 with a market cap of US$48 million.
Image credit: www.dexscreener.com
It remains to be seen how good the token can go from here. But for more investors to drop in, it needs to establish itself on other exchanges.
