EMOJIS.FARM — The Lingua Franca for DeFi
In 1999, Japanese artist Shigetaka Kurita was tasked to come up with a new pictorial system for Japan’s telecom giant, NTT DoCoMo’s email systems. Using just a 12 by 12 pixel grid, he had to curate images that can be used to not only replace words, but express more information in a succinct manner. And after 5 arduous weeks, Kurita created the first 176 pictographs, which is otherwise now known as emojis.
Today, we have more than 3,000 emojis in our arsenal. From emojis that express your current mood to emojis that reflect an allegiance to a subculture in society, emojis are now a mainstay in our day-to-day conversations. Highly universal and emblematic of the zeitgeist of our 21st Century, emojis have been a unifying force for the world.
EMOJIS.Farm was thus named as such to reflect our vision for tomorrow. Similar to how emojis have enabled us to express solidarity and belonging, we want to create a community that is global, open and friendly.
Through our intuitive interface and improved protocols, EMOJIS.Farm taps on the advantages of a decentralized system and the power of the internet to welcome everyone to join in the fun.
A Universal Ecosystem for All — EMOJIS.Farm
EMOJIS.Farm was borne out of a desire to unite the DeFi community and through providing an active and fun reward environment, catalyze user adoption and create a self-sustaining community who can enjoy greater liquidity and stability.
Being a decentralised system, EMOJI is equipped with the necessary policies required to support the economy and achieve sustainable growth. With our rebasing function and on-chain governance, EMOJI has both the autonomy to maintain design specs and the nimbility to adapt to new processes and protocols, whenever and wherever necessary.
How is EMOJIS different from other DeFi projects out there?
To be crystal clear right from the start, we are not a hype train and will never be.
How many times have we seen projects go live, garner attention and then fade into oblivion within months? The DeFi community has always been supportive of new projects but unfortunately, always end up having to deal with the short-lived projects that typically fail due to a lack of liquidity.
EMOJI seeks to change that. Here, we actively create an environment that can generate organic growth and sustainability for the long term. Through generous yield incentivization policies and an early withdrawal penalty, EMOJIS.Farm ensures a steady pool of liquidity to support the ecosystem for the long haul.
How does EMOJI work?
EMOJIs are minted to act as an intermediary for the following DeFi protocol tokens: 88MPH, yPLT, CSMx, HAKKA and MGX.
EMOJIS.Farm will provide LP tokens to incentivize token holders to serve as the UNISWAP Liquidity Pool (LP) providers for the pools below. The list is not exhaustive and can change via protocol level voting.
yPLT/EMOJI
CSMx/EMOJI
HAKKA/EMOJI
MGX/EMOJI
MPH/EMOJI
Notably, there is a lower barrier to entry for EMOJIS.Farm. Unlike conventional AMMs, you do not have to contribute tokens in fixed ratios, but can acquire LP tokens using either of the individual tokens separately on EMOJIS.Farm.
For those who are interested in how this works, let’s assume that you are depositing $EMOJI tokens into the yPLT/EMOJI. As aforementioned, your deposits of $EMOJI tokens will generate rewards. This initiates the smart contract, which takes in the $EMOJI tokens and internally swaps them for the other token, yPLT. To rebalance the pool, additional $EMOJI tokens are minted by the smart contract. These EMOJI and yPLT tokens are redeposited back into the pool to generate LP tokens as rewards that will be distributed amongst all users.
If I join EMOJI, what’s in it for me?
1.Compounded interest guaranteed by our rebasing function
All LP token holders who have deposited with EMOJI pools are awarded compounded interest via rebasing.
The rebasing function is called once a day and it is during rebase where EMOJIS are minted automatically and funnelled through the Half-Liquidity (HL) function to EMOJI pools in order to generate LP tokens. The rebase function is executed by any transaction sent to the smart contract.
2. Fixed APY
To promote self-sustainable growth, the APY for yield pools will be fixed at 1000% APY. This 1000% APY is achieved through a daily compounded interest of 0.6592%. Through actively staking their LP tokens in the EMOJI Farms for 365 days, LP token holders can withdraw 11 times of their LP token deposited.
The formula representing this is below:
In order to qualify for the 1000% APY, token holders must serve as LP providers for pools of their choice, and they can do this by adding liquidity via our Half-Liquidity (HL) function.
This daily compounded interest is generated by the rebasing function of EMOJIS.Farm.
3.Never get dumped!
At EMOJIS.Farm, developers CANNOT mint new tokens. We are against selfish acts and would disallow anyone to inflate the supply of tokens for their own interests. Additionally, who loves a dumper? We absolutely hate that and will never abandon the project. As we have said, we are not a hype train and we are here to stay for the long haul.
What can I expect for EMOJIS.Farm’s launch?
5 initial pools will be released on UNISWAP:
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% for a year. This pair will only be served as price discovery.
The other EMOJI pools will require voluntary donations from the DeFi community and initial token depositors of these pools will be entitled to a 70% share of the LP tokens. The other EMOJI pools will require voluntary donations from the DeFi community and initial token depositors of these pools will be entitled to a 70% share of the LP tokens. The remaining 30% of liquidity for DeFi token pairing will be locked on Unicrypt for 3 months.
Do note that there will be a 24-hour time lock for LP tokens deposited on EMOJIS.Farm; you can only withdraw your tokens and rewards after the time lock.
Withdrawing liquidity from any of the above pools will incur a 5% fee via a token burn of EMOJIs. This 5% will be redistributed back to the remaining LP token holders as a big thank you for sticking with us!
About EMOJIS.Farm
In line with our broader vision to reach a wider audience in the DeFi space and ensure a fundamental level of liquidity. EMOJIS.Farm is backed by the Consentium ecosystem.
Launched in April 2018, Consentium is a revolutionary platform that bridges the gap between social communication and cryptocurrency. Leveraging the popularity of chat apps as key communication channels for cryptocurrency communities, Consentium has disrupted the chat app economy with its integrated cryptocurrency wallet. The in-app wallet function allows users to send and receive CSM, BTC, USDT and ETH using just a phone number or user ID.
Operating on its own proprietary blockchain, CSM Chain, Consentium has a higher TPS that allows its 100,000-member strong community to enjoy a more seamless transaction experience.
In the near future, Consentium aims to become the premier chat platform and super-app for the DeFi space and has many exciting plans in the pipeline to expand its ecosystem. One of these plans include adopting $EMOJI tokens into the superapp, thus enabling $EMOJI to act as a conduit for users to the Consentium ecosystem.
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Join us on our socials:
Telegram — https://t.me/emojisfarm_chat
Website — https://emojis.farm
Medium — https://medium.com/@emojisfarm
Twitter — https://twitter.com/EmojisFarm
Find out more about Consentium here.
References:
https://edition.cnn.com/style/article/emoji-shigetaka-kurita-standards-manual/index.html
https://www.weforum.org/agenda/2020/09/emoji-numbers-facts-social-media-how-many-twitter-facebook-instagram/#:~:text=2020%20saw%20the%20release%20of,set%20to%20grow%20to%203%2C353.Consentium
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