Animal Farm Crypto is a unique deflationary token operating on the Binance Smart Chain protocol that provides its users with lending or yield farming opportunities.
Many new crypto projects offer the participant the opportunity to generate passive income released this year. But, Animal Farm Crypto is one of the most intriguing ones that’s been gaining the attention of many investors. And no, it’s not George Orwell’s classic satire “Animal Farm.”
After it launched early this year, investors and experts quickly bit at what the project was offering. However, a sniper bot that threatened to drain the ecosystem almost destroyed the reputation of Animal Farm Crypto.
In response to the threat, the developers fixed the problem, relaunched the project, and called it Animal Farm Crypto 2.0. But, investors are getting skeptical about the prospect of the project after going through a relaunch.
This article will discuss everything you need about the Animal Farm Crypto project. We would explain what it is, how it works, and how to get started on the network.
What is Animal Farm crypto?
Animal Farm Crypto is a unique deflationary token operating on the Binance Smart Chain protocol that provides its users with lending or yield farming opportunities. Forex Shark — who also happens to be the developer of the DRIP protocol — launched the project on 3 February, which since then has garnered the interest of many investors.
Another unique trait of this project is that it comes with two native tokens; “DOGS” and “PIGS .”We’ll talk more about each token later in the article. But for now, know that the purpose of these tokens is to capture the financial power of the users, which they can utilize for farm yields or other lending protocol purposes.
You will find the whitepaper resource useful if you want to know more about the Animal Farm Crypto project.
How does Animal Farm crypto work?
Animal Farm crypto is the second release from the same team behind the DRIP token. According to the developer, the primary aim of this project is to enable investors to make money in the form of a passive income.
The project offers its users several money-making opportunities through staking programs and yield farms. There are two native tokens available on the network — PIGS and DOGS.
To understand the role of both tokens better, see the PIGS token as the governance tool. Holders of these tokens get the right to participate in events that can shape the project’s future. They are like shareholders in the company since they also earn dividends from the project’s money through transaction fees.
That doesn’t mean the DOGS token isn’t important. What you’ll want to do is to accumulate as many PIGS tokens as you can. These tokens are the project’s transaction tool—a similar example of how the DOGS token works are the Ether coin which powers the Ethereum blockchain.
How to earn on Animal Farm crypto
The Animal Farm Crypto offers investors FIVE different options to earn passive income:
On the platform, there’s a “Farming” tab. When you click on it, you find 20 token pairs where you can decide to invest your money. Let me explain how this farming works in theory.
After investing money in a pool, you are given LP tokens representing the pool’s share that you control. You earn interest while your money is there. There’s also an option to delete the liquidity pair and unstake your LP tokens at any time.
Using a real-life scenario, let’s assume you want to put your $2000 in the DRIP/BUSD pool on The Animal Farm. You would spend $1,000 on Drip and $1,000 on BUSD. Then, you’ll add the liquidity (DRIP and BUSD) to Pancakeswap and get back LP Tokens. It’s those LP Tokens you’ll stake on Animal Farm by pressing the Plus button on that associated pool.
The GREAT thing about these pools is that, unlike DRIP, you do not lose your initial deposit. And you can choose to withdraw it at any time.
You’ll need to activate the “Pools” tab to get started. Here, your tokens are essentially staked in pools. For example, when you stake your BUSD in the BUSD pool, you’ll gain DOGS tokens with an APR of 71%. You are also free to remove your initial deposit here.
3. Pig Pen
Like I said earlier, earning PIGS is the ultimate aim of Animal Farm. Owning a PIGS token makes you a partial owner of Animal Farm, a rare feature that most decentralized crypto projects don’t offer to investors.
However, the pig pen feature allows users to earn BUSD by staking PIGS. It’s also good to know that you can always unstake; you do not lose your initial investment.
4. DRIP Garden
You’ll find a lot of similarities between Animal Farm’s DRIP Garden and DRIP if you’ve used both features. Both features offer users daily returns, and you lose what you put in. But the DRIP Garden stands out because it offers a staggering 3% daily returns.
Like DRIP, there’s an option for you to either “Recompound” or “Claim” your returns. Don’t get caught up in the details of the “Seeds” and “Plants” when staking. Also, know that the DRIP Garden will prosper as long as the DRIP token is performing well in the market.
5. Piggy Bank
Piggy Bank is a new feature that the developers added to Animal Farm. This feature offers users a time-lock incentive and a 3% daily ROI.
Shortly after the release of the Piggy Bank feature, The Animal Farm Crypto was attacked by a sniper bot. This attack prompted the developer to pause the network before relaunching it as Animal Farm Crypto 2.0.
Below is everything you need to know about the relaunch.
Animal Farm crypto relaunch: Animal Farm crypto 2.0
Early in March, The Animal Farm Crypto was put on hold, leading to investor worry. The release of the Piggy Bank feature, a user-owned yield farm, was a great success except for a sniper bot that threatened to deplete the ecosystem
Forex Shark decided to address the issue as opposed to letting it continue. The developer proposed a solution, and the team halted PIGS and DOGS. The farm restarted almost six weeks, but the network had certain modifications.
Some of these changes include the update of the PIGS token to PIGS V2. The DOGS tokens weren’t unaffected, but the developers adjusted the tax on the DOGS token in the PigPen platform to provide more rewards to investors.
How to buy Pigs & Dogs
The easiest way to buy Animal Farm tokens is by using CoinMarketCap. You’ll be able to find exchanges that support Animal Farm PIGS on the platform. Follow the below step-by-step guide to buying Animal Farm Pigs:
- Search for Animal Farm Pigs on CoinMarketCap. The result will give a general view of the token.
- Click on the “Market” tab. This view will give a complete list of exchanges supporting the token and the accepted currency (in pairs) for the purchase. For example, if you want to buy Animal Farm Pigs (AFP) with U.S. dollars, you’ll click on the AFP/USD pair.
- Then choose an exchange where you wish to buy the token. Do your research before exchanging because different platforms offer different liquidity, reliability, and security.
- Proceed to buy the token on the platform you’ve chosen.
How to get started with Animal Farm crypto
- Step 1: Set up a Metamask Wallet
- Step 2: Add the BSC network to metamask
- Step 3: Import token addresses to metamask –Coinmarketcap
- Step 4: Send BNB, BUSD, and USDT to your metamask wallet BEP-20 (BSC)
- Step 5: Import token address to Pancake Swap
- Step 6: Swap PIGS & DOGS – leave the same amount you buy in DOGS in BUSD to create an LP token.
- Step 7: Stake PIGS in the PIG PEN
- Step 8: Create a DOGS/BUSD-LP token
- Step 9: Follow the strategy discussed below. Note that this is not intended to be a piece of financial advice and should not be taken as such. (Ensure you do thorough research before investing)
Animal Farm crypto investment strategy
We’ll be considering all the earning categories we talked about earlier as we go on. There’s no perfect strategy in any investment, so you should take the below strategy with a pinch of salt and conduct your research.
Farming is the best place for beginners to get started and yields more than pools. Users can choose between farming for PIGS or DOGS. Please focus on the top three pools (DOGS/BUSD, DOGS/WBNB, DRIP/BUSD), as they produce the highest yields.
Never forget that main goal; amassing the PIGS token. So you can start with three farms that generate DOGS. Then after harvesting rewards from these farms, you stake them over in the Piggy Bank or Pig Pen.
The big idea is for you to earn DOGS to earn PIGS. You must have noticed the cycle here. One pool is generating DOGS for you, and another DOGS pool rewards you in PIGS.
What about the DOGS? Are they only useful for generating PIGS?
No, they are also important. If you’re familiar with the Drip Network, they work the same way as BR34P tokens for referrals.
You need to stake a required amount of DOGS to earn commissions for referrals in the Piggy Bank. However, you can earn a higher percentage of your stake more DOGS.
Also, making a DRIP garden investment is a smart move. You can compound your daily earnings (provided as DRIP/BUSD LP tokens) from farming in the DRIP/BUSD Farm to generate PIGS.
Go to the DRIP Liberation tab on Animal Farm and enter your BUSD to begin with the DRIP Garden. The app will divide the pair for you, so you don’t need to do that here. For instance, if you enter $1000 BUSD, it will split the amount into $500 DRIP and $500 BUSD and provide you LP Tokens.
Next, enter the Drip Garden and select Buy Plants to invest. Again, you can’t recover or withdraw your initial investment, but you receive a daily return of 3% from DRIP/BUSD LP Tokens. You can repeat the process and restate your rewards to keep them piling up.
The animal farm crypto is like a phoenix rising from its flame, and investors can’t ignore its prospect in the future. With a dedicated, development-minded team working hard to make the project a success, the Animal Farm project could break crypto records.
Is the Animal Farm crypto project real and legit?
Animal Farm Crypto is still in its infancy, and there’s little information about the project. But, the fact that Forex Shark backs it speaks volumes about its legibility. Also, the token has performed well in the last few months, with a 117% increase in value.
According to CoinMarketCap, the token is currently trading at $53.20 with a market cap of $19,523,685.29.
Is the Animal Farm crypto ecosystem sustainable?
Yes. And for two good reasons:
First, the developer, Forex Shark, has built a strong reputation from the success of the Drip Network. His projects get the backing of a massive and confident community.
Second, DRIP announced a series of collaborations and updates that will boost the project’s ecosystem. For example, the partnership with HotBit involves listing DOGS and PIGS on the platform. There’s also the collaboration with Chainlink and many more.
Is Animal Farm crypto a good investment?
Yes. Animal Farm Crypto would be a good investment in 2022. The primary reason is that the developers of this project are the same behind the Drip Network program. I’m not saying the Animal Farm project would replicate the success investors saw with the Drip Network, but it’s worth the risk.
In addition, the project runs a token burn program to ensure the DOGS and PIGS tokens will always increase in the future.
Disclaimer: All the information on this website is published for general information purposes only. They are not financial advice and do not represent the opinions of Coindictate to buy or sell any asset. Please do your own research before taking any action.