Crow Finance Project: Taking the Yield Farming Experience one Step Further

This DEX innovates on traditional AMM models introducing its unique day/night burn mechanism. On top of this, the team goes a step further in integrating vaults into their protocol.

By
Abriks
on
February 23, 2021
Category:
Project Insight

Introduction 

Yield Farming, which refers to the process of handing over your crypto assets to a DeFi platform while you earn rewards for doing so, is one of today's most active decentralized finance sectors. The idea of a holder earning rewards on his idle crypto assets has caught on, and more people are committing their assets for yield farming purposes.

Crow Finance aims to innovate the yield farming experience by introducing its ecosystem featuring an AMM and yield optimizer. This protocol attempts to innovate on the traditional models of Dapps seen on the Ethereum Network, such as YFI and SushiSwap.

What is Crow Finance?

Crow Finance is an evolutionary yield farming platform developed on the Binance Smart Chain (BSC) network. It offers a better yield farming experience by leveraging features from other platforms, and adding new never-before-seen features. 

What makes it unique

  1. Crow Finance converges useful features from different successful platforms such as Fryworld, Thugs, and Jetfuel for maximum user satisfaction. 
  2. It has a dual daytime and night time burn-mechanism that ensures super deflation of its native CROW token. 

Tokenomics

Crow Finance has a dual token system, $CROW, and the recently introduced $TALON. 

  • CROW Token. 

CROW will be emitted in two main phases:

Phase1: 150 CROW will be released each day with a block reward of 0.0052083. The emission rate will reduce by 2% daily, leading up to the minting of 3,479.55 CROW after 30 days. 

Phase 2: In this phase, 80.1 CROW tokens will be emitted each day, at a block reward of 0.0027813. Each month the rate will reduce by 15%, with a maximum emission of 19,355.79 CROW after one year.


The total supply of CROW is 20,962.32, of which 8.33% has been set aside as Developer Fund. As for the block rewards, 80% of the rewards per block are allocated to farmers, while the remaining 20% are distributed to TALON holders.

Dual Burn mechanism

During the day from 06:00–18:00 UTC +0, 3% of every CROW transferred will be burned.

At Night from 18:00–06:00 UTC +0, 1% of every CROW transferred will be burned.

Crow farming started on Friday 29 January 2021 in the following pools: CROW/BNB, BTCB/BNB, ETH/BNB, DOT/BNB, LINK/BNB, and BUSD/BNB, and CAKE/BNB. 

  • TALON Token.


TALON is a 1:1 peg of CROW. While each token is earned by farming with the other, holders of Talon can also earn tokens from other partner projects by staking them in pools. More information on Talon can be found here

Security.

As a result of several breaches in the DeFi space, security is a valid concern. CROW smart contract has been audited by Vidar, as seen in this report. A second audit by renowned security firm Certik is also underway. It is vital to note that audits don't ensure a smart contract's integrity as it is possible for auditors to miss unknown vulnerabilities in the code. Comprehensive audits are ample references to verify protocols' legitimacy, but they are far from the holy grail of smart contract security.

RoadMap

Though the project is still in its early stages, the team keeps to its roadmap and progressively builds with innovation in mind. The team is currently working on a few different things, such as their Certik audit, team scaling, website rebranding, marketing, and vaults implementation. Currently, Crow only functions as an AMM, but the team will soon release the protocol's yield optimizer portion, also referred to as vaults.


Vaults

The team at Crow Finance plans to optimize users' yield farming experience through the introduction of vaults. Vaults serve as investment instruments, implementing strategies through smart contracts. These vaults automate the best yield farming opportunities making yield farming seamless. The Crow Finance vaults are yet to be released, but strategies will be released shortly, optimizing the current CROW farming pools.


Concluding Thoughts

DeFi has seen a lot of Yield Farming platforms. Despite being a relatively new entrant into the market, Crow Finance is looking quite promising. This DEX innovates on traditional AMM models introducing its unique day/night burn mechanism. On top of this, the team goes a step further in integrating vaults into their protocol. This creates the Crow Finance ecosystem, allowing users to optimize their yield farming experience all from one Dapp. This AMM model offers innovation to the De-Fi space as it combines traditional AMM models with aspects from yield optimizers such as YFI, BIFI, and FUEL. It is expected that the team will release more updates, and as the project develops, it will carve its unique niche in DeFi. 

For more information, or if you wish to stay up to date on the project, check out project and media pages:

Website

Medium

Telegram

Twitter

Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.

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Abriks

Ahamdi Abarikwu is an Electrical Engineer and a lover of anything crypto. He is also an avid writer, proofreader and editor. He loves to play Scrabble in his spare time.