Here’s a little ray of crypto sunshine Schnoodle recently announced the launch of their proprietary Moon Farming Platform. As the headline suggests, Schnoodle’s new DApp is now up and running and despite the odd missile attack, there’s never been a better time to claim your plot on the moon.
The concept, project, and finished product was a result of the Schnoodle ÐAO community, which voted unanimously in favour of the Moon Farming Platform. The platform was then executed on chain in a trustless decentralised fashion before the final vote was finalised via reality.eth’s oracle. In short, everything went exactly to plan, no mean feat in the crypto-sphere, but another feather in the already impressive cap that is Schnoodle.
What is this (MFP) Moon Farming Platform, what does it do, and why should you care?
Well, since you asked…
Moon farming is Schnoodle’s unique take on yield farming. It’s a clever gamified system that rewards yield farmers based on just three simple factors.
Schnoodle’s Moon Farming Platform works thanks to three parameters:
- Deposit: The amount of SNOOD allocated to the farm.
- Vesting blocks: The length of time chosen to farm.
- Unbonding blocks: The period of time tokens are locked in for post farming before they can be sold or transferred.
Nothing unusual there then, but wait, there’s more, with Schnoodle’s new DApp there’s a clever gamified element and if you know anything about Schnoodle you’ll know, that whatever it is, it probably has a quirky acronym.
A piece of ASS for everyone
Introducing Automated Superyield System, or ‘ASS’ for short (we did warn you). ‘ASS’ is basically an algorithm that takes 4% from every Schnoodle sale and whisks the lion’s share into a fund used to reward Schnoodle Farmers. This is in addition to periodic drops from Schnoodle’s reserves that the project will also add to the rewards pool. Keeping it simple, the more SNOOD sold, the higher the rewards for the farmers. In a nutshell, farmers lock in a multiplier based on the length of time they choose to farm and the amount of SNOOD they deposit. The more you lock and the longer you farm the more rewards you’ll receive. This reward is essentially a multiplier between 0 and 1 and this is what’s used to determine a farmer’s net reward.
Now, as Schnoodle is a dynamic DAO, the parameters of the algorithm can shift depending on the farming population, but it won’t affect the APY of existing farmers who have locked in their tokens. Also, being a DAO, any changes would have to be ratified by the community first.
Welcome to the Metamoon
The nice folks at Schnoodle thought it would be fun to recreate each mining pool as a little plot of lunar acreage. The Metamoon is a cool visual representation of all the current active mining pools, each of which is represented by a colourful cylinder. The location is based on your rough wallet location and the size of your farm is based on the amount of SNOOD you have locked in. You can even tell how long a farmer has locked in their token by looking at the ripples each farm emits. And the missiles? These rockets are 100% harmless and the only thing they’ll kill is a few seconds. Launching a missile strike is easy, first hover the cursor over any farm to get more details and then right-click to nuke ’em.
The lunar calendar has started
MFP went live in December and there are already folks farming away, from the Sea of Tranquility to the dark side of the moon. Head to Schnoodle ÐAO’s GitBook for more information on their unique Moon Farming Platform and keep in touch through their social media channels such as Twitter. Are you ready for the first true trustless DAO?