Welcome to EMOJIs
A decentralised platform harnessing the power of community in exchange for liquidity providence.
Introduction
EMOJIS farm concept rides on several ideas in the Decentralised Finance (Defi) space, particularly in the areas of yield incentivisation and liquidity pools.
Of significance is the concept of active Defi community projects that can benefit from the liquidity providence from EMOJIS farm, and in exchange, provide their energy and network, resulting in a positive cycle of self-propagating growth and adoption.
*All farm contracts deployed. Ownership of contracts transferred. Mint disabled. Team will not be able to mint anymore EMOJI. All newly bred $EMOJI will be done automatically via farm contract for users' reward.
EMOJI TOKEN CONTRACT: 0xcbd380c2d84deafed09f79863705353505764f26
Farm Contracts
Background
EMOJIS Farm is a supplementary product and a complementary brand to the Consentium Ecosystem - a multi-feature chat application built on the blockchain.
EMOJIS Farm was borne out of the need to provide an organic driver to user acquisition for chat communities within the cryptocurrency and blockchain space.
EMOJIS Farm will serve as the catalyst for exponential user growth by providing an active and trending conduit of user incentivisation and participation. EMOJIS Farm will both serve as a fun standalone reward environment as well as to funnel entire communities onto the Consentium Chat Ecosystem.
Consentium Ecosystem
Consentium (www.consentium.net) is a successful chat application launched in April 2018, and is running its own mainnet since Jan 2020. The chat platform has its own functioning economy and also provides wallet functions in-app, allowing anyone to send cryptocurrency directly in-chat using just a phone number or ID.
The Consentium ecosystem is diverse and expansive with a pipeline of commercial plans to growing the ecosystem and providing more value-added services such as e-commerce. Consentium aims to become the premium chat platform and super-app for the blockchain and cryptocurrency space.
Defi / The Liquidity Crisis
DEFI projects are typically short-lived, not having the ability to sustain an economy for an extended duration due in part to an incredible initial APY as well as withdrawn liquidity on a reducing basis with time. These factors make it difficult to build and maintain an economy for Defi communities.
However, without the excitement and buzz generated from insane yield levels, it would be almost impossible to have established those communities and resulting energies in the first place. As such, a balance, or a bridge, needs to be built to ensure that projects are not entirely hype-based, but have a fundamental level of liquidity in the middle to end stage to see through and build their ecosystem to steady-state.
The EMOJI Farms answer
EMOJI Farms provides added liquidity to Defi projects by tapping on users looking at additional yield farming opportunities. It does so by generating much more liquidity for Defi projects listed below. The list is not exhaustive and can change via protocol level voting.
yPLT/EMOJI
CSMx/EMOJI
HAKKA/EMOJI
MGX/EMOJI
MPH/EMOJI
The concept draws on the propensity for users to seek higher yield pools, regardless of project stage. EMOJI Farms would provide incentives in the form of LP tokens to token holders serving as UNISWAP Liquidity Pool (LP) providers for the above pools.
General view
To ensure that EMOJIS Farm does not create the same unsustainable yield incentivisation crisis for itself, the APY for the yield pools will always be fixed at 1000% APY. In order to qualify for the 1000% APY, token holders need to serve as LP providers for the respective pools of their choice, and they can do this by adding liquidity by providing either EMOJI tokens or DEFI token via the Half-Liquidity (HL) function.
Half-Liquidity (HL)
This is a function which allows for users to acquire LP tokens using either of the individual tokens separately on EMOJIS Farm, rather than both tokens equally on UNISWAP.
Methodology and Rebasing
The concept of fixed APY rides on a compounded interest generated by a daily rebase. During rebase, EMOJIS are minted automatically and funnelled through the Half-Liquidity (HL) function to EMOJI pools in order to generate LP tokens. These freshly created LP tokens are then distributed to existing LP token holders as added incentives. All LP token holders who have deposited with EMOJI pools are awarded compounded interest via the above-mentioned methodology of rebasing. The rebasing function can only be called once per day, and will be executed by any transaction sent to the contract.
The Fixed APY
The APY will be always fixed at 1000%, and this incentive can only be changed via a governance vote process on-chain. The 1000% APY is achieved through a daily compounded interest of 0.6592%. Through their LP tokens deposited in the EMOJI Farms, actively staked for 365 days, LP token holders can then look forward to withdrawing 11 times of their LP token deposited. The formula representing this is below:
1.006592^365 = 11.0031791046
Early withdraw fees
There will be a 24 hour time-lock for LP deposits on EMOJIS.FARM, thereafter you can withdraw anytime. EMOJIS Farm aims to actively reward deposits, but not overly penalizing withdrawals of LP tokens. In order to ensure a valued-added economy, there will be a fee of 5% enacted on any withdrawal of LP tokens. These 5% will be redistributed back to the hands of users who continue to stake their LP tokens in the specific pool.
EMOJI Token
Corresponding to the pools supported on EMOJIS Farm, there will be the following pools on UNISWAP at the start:
yPLT/EMOJI
CSMx/EMOJI
HAKKA/EMOJI
MGX/EMOJI
MPH/EMOJI
Liquidity for the ETH/EMOJI pool will begin with a sale on the bounce.finance fixed swap, followed by a liquidity lock of 100%. EMOJI/ETH will only serve as price discovery. The other community pools would draw on community support and the initial token depositors for the pools will be entitled to a share of 70% of the LP tokens. 100% initial liquidity locked for 1 year for EMOJI/ETH and the other 30% LP tokens for other DeFi projects will be locked for 3 months.
The IMPACT of EMOJI
As a decentralised system, EMOJI has the policies required to sustain a extended duration both economically and systematically. The rebasing functions and on-chain governance would give it the autonomy to maintain design specs, yet the flexibility to adapt to new process and protocols. As a funnel for the Consentium ecosystem, there is a huge potential and opportunity to ride on the success of commercial adoption, and also value add as a DEFI layer for Consentium and its perpetually growing ecosystem of communities.
Last updated
