Animal Farm Crypto. The Drip Garden.
The Animal Farm Crypto is a decentralized finance project with the main goal being to capture the financial power of users through its DRIP protocol and yield farming.
First and foremost let’s talk about the project’s features and two native tokens, the PIGS AND DOGS, each with different use cases.
The PIGS token is the governance token, while the DOGS token is used for transactions. Stakers of both tokens receive BUSD rewards for deposits made with Animal Farm, and the DRIP is the protocol’s backbone.
The Animal Farm uses a Dynamic Decentralized Supply Control Algorithm (D.D.S.C.A.) to adjust its supply of DOGS and PIGS tokens.
The DDSCA will automatically adjust the supply of DOGS and PIGS tokens when demand dips. This mechanism enables investors to earn high yields even if there is no demand. To maximize profits, investors can stake their PIGS tokens for BUSD.
The Piggy Bank is another way to earn from Animal Farm. PIGS will be released on Thursday, May 5, 2022.
The new version of the Piggy Bank will be an updated version of the Piggy Bank. This new version of the system promises to be more efficient than the first one.
The Drip Garden Defi Project
Now let’s talk about The Drip Garden and the strategy I am using to continue to earn yield on a daily basis.
When I first started with the Drip Garden back in February 2022, my goal was to reach 1000 plants. After just one month of following a simple strategy, I was able to reach the milestone of 1000 plants.
The Drip Garden 20k Plants
My next milestone after achieving 1000 plants was to get to 10k plants but ended up surpassing that and now have grown right around 20k plants.
Now before I move on, please keep in mind that this is only for entertainment purposes and I am not here to brag but to show you my progress in the last 3 months.
So at this point, you might be thinking, how do you even get to 20 thousand plants, and what are 20 thousand plants worth today? You can see in the screenshots above that at 1000 plants in March I was earning around $122 a day which is the equivalent of around 3.8 LP a day and a total value of $3,686. I started with around $2,200 in LP value
My simple personal strategy was to and still is to compound every time I earn 4 to 5 LP. For me, it’s all about long-term passive income and the way that I am going to try to get to that point is by consistently compounding over a period of time, right around a year, and then perhaps start taking profits once or twice a week.
The LP pair for the Drip Garden is DRIP/BUSD so you always have to take impermanent loss into consideration.
If you are reading this today June 2nd, 2022 you know that we are currently going through a crypto market downtrend.
The screenshot above shows a little over 20k plants grown earning around $37 a day in LP which is around 3 LP a day. Now how is this even possible? Shouldn’t I be earning a lot more since now I have grown from 1k plants to 20k plants in about 3 months?
Impermanent loss is what’s taking place at the moment because the price of DRIP has decreased by about 80% in the last 3 months. When I first bought DRIP to pair up with BUSD to create my LPs, DRIP was at $125, today June 2nd, 2022 CoinMarketCap shows DRIP at $10.70
I wanted to share this experience with all of you that are looking at the DRIP garden and defi in general. Things like this will happen so you have to be prepared.
The only reason why I am still compounding to this day is that I personally believe in DRIP and the money I have invested is my risk capital which means that I am ok with losing it if that were to happen.
I believe in the developer and most importantly the community so my strategy moving forward is to keep compounding and hopefully see a recovery in DRIPS price after the market recovers.
If you want to learn more about The Animal Farm, make sure to watch this video