Introducing KogeFarm: a new auto-compounding utility on Polygon
Farming has become all the rage on Polygon/Matic. We just launched a service that helps you auto-compound the reward tokens from these farms and thereby increase returns through the magic of compound interest.
When you deposit LP tokens into our farms, our smart contract deposits it into the underlying farms (e.g. PolyCat, PolyGaj, Iron Finance) for rewards, which it then automatically harvests and compounds into more LP tokens for you. All of this happens automatically, without any effort from you. We focus on providing this utility for the high APR farms because that’s where auto-compounding can really boost the APY.
Right now, the we are auto-compounding FISH-MATIC from PolyCat, GAJ-USDC + GAJ-MATIC from PolyGaj, and TITAN-MATIC from Iron Finance. Expect to see a lot of additional farms in the near future. Take your degen farming to the next level by using KogeFarm: https://kogefarm.io/!
Furthermore, to encourage adoption we currently charge no fees whatsoever on any of our farms. Furthermore, due to our focus on high APR farms, many of our farms are unique in that you can’t auto-compound FISH-MATIC, GAJ-USDC, or GAJ-MATIC anywhere else on Polygon/Matic.
Compound interest is the most powerful force in the universe. - Albert Einstein
As the table above shows, continuous compounding significantly increases the APY on high APR farms (ie. 1000%+) relative to both the simple annual APR and the APY obtained from daily manual compounding. If you farm high APR tokens, you should use us to auto-compound.
Are your smart contracts audited?
Yes! The smart contracts we use have been audited twice and were battle-tested by two other services. For now, the unique aspects of our service are the farms we offer and the fees we set, not the code.
Should I use KogeFarm?
If you already hold FISH-MATIC, GAJ-USDC, GAJ-MATIC, and/or TITAN-MATIC LP tokens, we think you should indeed move your LP tokens to KogeFarm: right now there are no fees to end users, and the auto-compounding will significantly increase your returns.
On the other hand, if you do not currently hold these LP tokens, then we do not provide investment advice. With high APR comes with high risks of price declines, and it is not for everyone.
How will this benefit KogeCoin token holders?
All revenue generated by KogeFarm will be first used to buy and lock KogeCoin-USDC and KogeCoin-MATIC LP tokens until we reach acceptable levels of liquidity (~50k). After that, they will be used to buy and burn KogeCoins.
KogeFarm currently generates referral revenue from the FISH-MATIC LP farm, which is 1%. We have committed to not charging any fees to end users until at least June 3.
How can I become a KogeCoin token holder?
KogeCoin was launched via airdropping 96% of our supply to all early QuickSwap/Polygon users. This means that no bots were buying at launch, and there are no pre-sale whales. If you’ve used QuickSwap before May 3, 5pm UTC, you can go to our website to claim ~1160 KogeCoins: https://kogecoin.io.
If you want more KogeCoins (which we think you should), and/or missed the airdrop, you can buy some at QuickSwap using our token contract address: 0x13748d548D95D78a3c83fe3F32604B4796CFfa23
All unclaimed tokens by June 3 in our genesis airdrop will be re-distributed to KogeCoin holders in proportion to their holdings. The current plan is to do so using a second airdrop, but we are considering an alternative mechanism where we instead distribute these tokens via staking at KogeFarm.io, with 50% given to KogeCoin stakers and 50% given to KogeCoin-MATIC and KogeCoin-USDC LP providers, starting ~1 week after June 3. This will still re-distribute the leftover KogeCoin to HODLERs, but also creates some more incentive to provide liquidity. We will write a post and hold more discussion on this soon.
Who provided the graphics for KogeFarm?
Hecta Yada in our Telegram group generously provided the graphics for KogeFarm, a version of which were previously shared in the chat. We have sent 5000 KogeCoins to Hecta as a thank you to their generosity. These graphics will be used as placeholders until we conduct our upcoming logo contest.
Gitbook Docs: https://app.gitbook.com/@kogecoin-io/s/kogefarm/
Twitter (same as KogeCoin): https://twitter.com/kogecoin
Telegram (same as KogeCoin): https://t.me/kogecoin
Discord (same as KogeCoin): https://discord.gg/b3SUmKtd
Medium (same as KogeCoin): https://medium.com/@kogecoin