What is Yield Farming?
One of the go-to strategies that cryptocurrency investors lean towards has been yield farming. This is due to yield farms offering a means to generate passive income. Crypto yield farming is the process of lending cryptocurrencies to an exchange or protocol in return for high fees, otherwise referred to as yield. Your digital assets are put to work through liquidity mining in a liquidity pool. The yield will typically be paid out in crypto. It requires a liquidity pool as well as a liquidity provider.
With the launch of the PunkPanda Farm, PunkPanda token (PPM) holders now can earn the same passive rewards for staking PPM. The PunkPanda token acts as a share of ownership for the app community and all revenue streams that exist within the protocol. The token has a portion reserved for staking rewards in the early period to encourage holding versus selling, as well as various upgrades inside the system, such as access to encrypted File Sharing, Video Conferencing, and Storage Vault. In addition, the token can also be used as a currency in the upcoming PunkPanda game, where massive amounts of NFTs will be traded and sold.
The punkpandafarm.com website was set up as an avenue for members to earn rewards or interest from DeFi staking instead of selling. The more PPM that is staked for 3 months to 2 years, the less PPM will be in circulation. Users will make deposits into various liquidity pools and earn a return on their money invested, or invest funds themselves for a return. Making deposits into the DeFi pools earns passive interest on the deposits while allowing the investor to withdraw the funds at any time.
How do I swap for PPM?
Investors can now swap Binance Smart Chain BNB for PPM through the PunkPanda Farm’s swapping feature. This paves the way for seamless Binance Smart Chain BNB to PPM exchange services, rather than the often cost-inefficient and time-consuming approach of converting Binance Smart Chain BNB to fiat before subsequently using the fiat to buy PPM.
The mining reward is directly proportional to blocks generated on the BSC (Binance Smart Chain). Mining tokens with PunkPanda is quite easy and hassle-free. Unlike Bitcoin mining where highly expensive hardware miners and energy costs are used to mine the tokens, PunkPanda uses proof of stake.
You can calculate the mining rewards for the PunkPanda token using the following formula:
P = The number of PunkPanda Tokens Staked In Wallet
R = The Block Reward
S = Supply In circulation
Formula = (P*R) / S
Note: The circulating supply changes every 30 minutes from the mining rewards generated.
Who is using the PunkPanda Farm?
The Panda Token Holders “Farm” would be your typical crypto investor. They are the ones to buy tokens at Pancake Swap & want to earn rewards. External Wallets can participate in rewards through PunkPanda Farm’s back-office. By simply moving them to the PunkPanda Farm, the rewards of PunkPanda Tokens will come every 30 minutes. All Panda token holders will see the number of Panda Tokens growing in their PunkPanda Farm staked wallets.
For token numbers to be counted towards the rewards calculated every 30 minutes, the tokens must have been staked in your digital wallet inside the Punk Panda Chat app or in the digital wallet on punkpandafarm.com.
PunkPanda Token Holders “app” & Panda Token Holders “Farm” automatically stake the tokens in the wallets. A smart contract connects with the staked wallets. If you unstake your wallet to withdraw, you will not receive rewards (every 30 minutes) for the next 48 hours. The Smart Contract will skip the delivery of that wallet for 48 hours. When you unstake it will take 48 hours to withdraw. Make sure you do your withdrawal, then stake the remaining tokens and the Smart Contract will start delivering again.
The Smart Contract will deliver a new block of 2100 PunkPanda tokens every 30 minutes for the first year. In the second and third year, the smart contract will deliver a new block of 1050 PunkPanda tokens every 20 minutes. In the 4th-8th year, the smart contract will deliver 525 PunkPanda tokens every 15 minutes. In the 8th-15th year, 263 PunkPanda tokens will be delivered to wallets every 10 minutes. These halving schedules, combined with restricted supply, will help to make the PunkPanda token difficult to mine and more valuable.
The mining schedule will be done via a smart contract and will govern the token allocation of each mining block over the entire 15-year mining schedule. This provides assurance that the token rewards program outlined at the beginning of the project, not only is executed fairly and flawlessly, but remains in place in perpetuity.
Each PunkPanda token mining phase has a halving interval after which the block reward will decrease and the time per block will also decrease.
There are four phases of mining:
Phase 1: The first phase begins at the time of deployment of the smart contract. Mining intervals in this phase span 30 minutes where 2100 PunkPanda tokens are allocated per block.
Phase 2: This phase consists of two years. The reward will be 50% of the reward in phase 1. Therefore, mining intervals in this phase span 20 minutes where 1050 PunkPanda tokens are allocated for each block.
Phase 3: In this phase, the rewards are cut to half to become 485 PunkPanda tokens per mining block at 15-minute intervals. This phase will cover a span of 4 years.
Phase 4: Considered the golden period, 263 PunkPanda tokens are allocated per block at 10-minute intervals. During this period, the mining rewards will be decreased, and total users will increase significantly.
PunkPanda 4 Phase Mining Schedule
Visit punkpanda.io for more information and punkpandafarm.com for information on the upcoming PPM Initial DEX Offering!
Join them community:
Telegram: @PunkPandaApp and @PunkPandaCommunity
Twitter: @punkpandaapp
Facebook: @PunkPanda
Instagram: @punkpandaapp
