Crypto miner: The Farm House – Up to 7% Daily Return
Up to 7% Daily Return | The Farm House | Baked Beans Fork on Polygon.
The Farm House is a Polygon Network-based imitation of Baked Beans Miner that charges less in taxes and offers a little smaller daily payout.
| Feature | stETH |
|---|---|
| Blockchain | Polygon |
| Coins | Matic |
| Difficulty | Low |
| Risk | High |
| Yield | 7% (daily) – variable |
| Vesting period | No |
| Wallets |
MetaMask
|
| Exchanges | Binance, Kucoin, etc. |
What is it?
The Farm House smart contract is basically a locked staking rewards pool. The cash placed into the dApp is represented as “Seeds,” which are tokens derived from The Farm House smart contract, which is essentially a locked staking rewards pool. Up to seven percent of your daily investment will be paid out by the initiative.
“Harvest” — get the benefits every day
“Replant”, to make multiples of one’s original investment.
An excellent mechanism is included in the smart contract to discourage frequent withdrawals and encourage compounding and reinvesting of daily benefits.
In order to ensure the life of the protocol and your individual reward rate, it is advised in the whitepaper that you follow a 6-day Re-Plant 1-day Harvest Cycle every week.
Keep in mind that if the contract’s Total Value Locked (TVL) is decreasing, so will the incentive percentage, which might be as low as 2% or 3%. Currently, the contract’s TVL is only going up, and the daily reward is staying put at 7%. (May decrease based on the users’ withdrawal habits)
Fees and Taxes
Both the first deposit and subsequent withdrawals will incur a 2% charge.
Simple Calculation
For the sake of this example, let’s pretend we have $1,000 to invest in MATIC and that we’re going to use the whitepaper’s suggested method. To simplify the presentation of the Seeds in the dApp, I’ll do all the math in MATIC.
A return on investment (ROI) of 10.089% is possible after one week if you use the 6 Re-Plant 1 Harvest Strategy outlined in the whitepaper. This strategy also maintains a high reward rate and compounds your original investment. Your weekly return on investment (ROI) percentage will grow exponentially as a result of compounding.
If you’re curious in the theoretical figures, you can check out this handy Google Sheets Calculator right here.
The author of the post suggests “Even though the monthly compounding strategy has the biggest potential earnings, I still like taking winnings on occasion. In the end, the potential is nothing more than a measure of future rewards that have not yet materialized”.
Source: Limitless Insights on Medium.