Hey guys! Hello and welcome to Defy farm!
Lets first explain this name. What we felt, is, we, especially our financial lives, are tied down by rules set by banks, loan providing authorities, financial regulatory authorities. You need to do exactly what they ask you to do, even to access your own money! For example, you keep too much money in the bank, you pay for that (taxes), you keep too little there and you pay again (fines). How you can send money abroad, to your family, love or simply to buy something, is again, determined by them. We say, well, to hell with them! Lets DEFY those rules and be the owner of our hard-earned fortune!
That goes for centralised finance, or CeFi. Then we had DeFi, or Decentralised Finance. It came to change the scenario and that it did, to an extent. We saw amazing growth for YFI, Curve and so many of those copies and clones. However, again, these project suffered from multiple issues.
Mindless issuance of tokens: or, a very high emission rate which leads to hyperinflation. This leads to another horrible scenario which burnt many newbies, Impermanent Loss or IL. More on this later.
Dev/Team owning unlocked tokens: and dumping them on the buyer and making it crash. Yikes!
Technical snag: We remember what happened to YAM, no? From $160 to 16 cents within minutes. That’s because the team was too confident of their code and didn’t bother to get this checked.
Scam/Rug: well, if you are even a week old in this market, you know what we are talking about.
Whale manipulation: They buy early, they get special discounted rates and they dump when we the commoners have worked hard as a community to pump the price. They cause a sharp slump, create panic and wait for it to go lower to re-buy and continue this circle. We HATE that!
Influencer Shilling: You must be knowing this by now, none of those ‘influencers’ want you to get rich, they aren’t the proverbial good Samaritans. They will probably shill an outright scam, if they are paid enough. We all know that one guy who promised to eat his own **** on live TV. Going by his tweets, he already have his **** very close to his mouth, in his head.
We say, let’s DEFY all of these. Thus, the name, DEFY, which is, also, a clever wordplay of DeFi, we believe.
OK, Enough about others, lets talk about ourselves.
DEFY is going to address to all those issues as mentioned above. Not too long ago, we were in your place and suffered from the same and decided to do something about these. Lets discuss our plans in short.
Please note, DEFY have V2 and V3 planned well in advance but this article is going to talk about V1, which is launching in 4 days approximately.
Frankly, we love the RFI model, or the deflationary model. BTC is costly because its theoretically non-inflationary and practically deflationary (BTC getting lost). We will follow the RFI model but we are also aware of the inherent drawbacks and thus, we decided to tweak this model to suit us all and, thus, by default, address the issues mentioned above.
1. Mindless issuance of tokens: As we will follow a highly tweaked RFI model, the model is deflationary by default. No new token will ever be issued.
2. Dev/Team owning unlocked tokens: None, nada token kept for team. We all start from equal grounds.
3. Technical Snag: Our codes will be open for public audit. We will share github link just before the launch. As soon as we can afford, we are going for Certik or comparable auditors! Just don’t remind us what happened to icecreamswap even after audit…oops.!
4. Scam/Rug: Hey, don’t trust us! Trust the code. Get it checked by a dev you trust! If you don’t feel confident, don’t enter! Please don’t enter.
5. Whale manipulation: We have the mathematical model ready to combat this. This is coming in V2, we promise. This requires extensive testing and much bigger dev power. Give us a couple of months to get this implemented. For now, there will be no presale or heavily discounted sale to whales, they start on equal footing!
6. Influencer Shilling: We don’t have money for this! That’s it.
And what else we offer?
1. No presale/private sale: Yep, none of that shit!
2. Liquidity locking: All of that coming from our pocket and we will use Cryptex to lock that for 1 year.
3. Fair launch.
BTW, you might wonder, why do we have FARM in our name? Because, yes, you are reading this right, we have found a way to offer farm rewards without issuing or minting new tokens. We will explain this right before the launch.
For now, that’s all boys and babes! Feel free to ask us more, our social media links are as follows
Website: defy.farm (coming up shortly)
Telegram group: https://t.me/defy_farm
Telegram Channel: https://t.me/defy_farm_ann
To the moon and beyond!
(This article is written by a non-native speaker of English. Learn when to ignore SPAG and go for the content!)