FARM: A Place Where DeFi Enthusiasts Look for Fertile SOIL To Grow Yields
FARM: A place where DeFi enthusiasts look for fertile SOIL to grow yields. FARM is a new yield farming project built on Tezos, hoping to gain traction in the DeFi space.
Disclaimer: DeFi is high risk and the following article contains no financial advice. It is recommended that thorough research is undertaken on any DeFi/blockchain applications, utilizing multiple sources, before participating with any blockchain projects, or tokens in this space. Read our full disclaimer here.
It Started With SOIL
On April 27, the SOIL airdrop took the Tezos community by storm. The response to their airdrop announcement brought in over 2500 airdrop applicant submissions on their Google form within an 18-hour period.
Their original airdrop Tweet has 2,666 retweets and 1,883 likes. In total, 70,000,000 SOIL were airdropped to 150 lucky people that were able to act fast enough to secure their eligibility.
SOIL will be the basis for the FARM/SOIL ecosystem in which one can provide liquidity to the SOIL/XTZ pair on Quipuswap to earn the FARM token. Once the FARM token is available, holders that provide liquidity to the FARM/XTZ pair will be eligible for prizes that include additional SOIL/FARM tokens, XTZ and “exclusive NFTs”.
Here’s a breakdown of the FARM/SOIL Tokenomics from the FARM/SOIL Medium Page:
SOIL is the utility token and driving factor to earn more FARM.
Contract Address: KT1TtaMcoSx5cZrvaVBWsFoeZ1L15cxo5AEy
Token ID: 0
Circulating / Total Supply = 1,000,000,000
Initial Airdrop = 70,000,000
Initial Quipuswap Liquidity = 550,000,000
Team = 150,000,000
Development Fund = 150,000,000
Marketing / Future Airdrops = 80,000,000
FARM LP tokens are needed to be entered into reoccurring airdrops.
Stay tuned for Contract Address information. Trading is not live of FARM.
Circulating / Total Supply = 1,000,000,000,000
FARM for the Farm = 750,000,000,000
Team/Dev Fund = 250,000,000,000
Introduction To The FARM Interview
The following communication took place on Discord messaging with “OneBaldDude” on April 30th 2021. The questions were sent over to OneBaldDude and the team collaborated on the responses.
I tracked OneBaldDude down on the TezCorp Tezos community Discord channel that is an incredible resource for staying up to date and for discussing almost every type of Tezos project that you could imagine!
First off, thank you so much for taking the time to do this virtual interview! With all the recent activity in the Tezos DeFi space, I thought that it was important to try to learn more about the teams behind the tokens.
“Barry O’Hearn: What is your background and how long have you been involved with Tezos?
“I have been involved in the crypto community since 2015 and participated in the Tezos ICO. I have been through the highs and the lows…and I’m still here and more motivated than ever.
Background: From fixing satellite antennas, building complex networks, and even designing extensive software, I have worked tirelessly to ensure I stay up to date with the continually evolving tech sector. I strive to be the expert on every area of my responsibility and, even more so, to educate others around me.
Some accomplishments include:
– B.A in Cyber Security
– A.S in Computer Networking
– A.S in Electronic Systems
– Comptia Security +
– Tezos Community Monthly Award Winner x3
For the last 4 years I have worked as a full-time product designer with a focus on practicing agile and lean philosophies while ensuring the user’s needs are heard. If you have seen me on Twitter, you know that I’m an opinionated baker and very passionate about #Tezos.”
@mycodcrafting was contracted to build our front end and staking contracts. His Tezos passion is obvious from his experience. He has been a developer for over 15 years and been building on Tezos for the past two. He is currently working on the OpenMinter project and is building out Crunch; another exciting farming service.
“I have 6 years of experience in IT Management and currently hold my Comptia Sec+ certification along with two FCC certifications and a degree in Electronic Systems Technology.
I have led over 100 communications projects and I am currently working towards my Project Management Professional certification. The irony of my story and this project is I started as an actual farmer. I lived and worked on a farm for most of my childhood, eventually finding interest in electronics that brought me into the IT space.
In 2017 I really started looking into the hype of the crypto market, along with my partners and friends One_Bald_Dude and CCfromspace. I didn’t really understand much about crypto at first, I just saw a lot of potential in where it could go.
The first project I fell in love with was, of course, Tezos. From there we have held through the wild ups and downs of the project but knew there was something special about what they were trying to build. So, I held on and now here I am, building on my beloved Tezos.”
“I have a BS in Computer Science and have been working in healthcare since 2012. I currently lead a team of over 100 at a large hospital. I started as a clinical healthcare worker until earning my degree and shifting career paths in 2019 which led me to my current position.
I got involved with Tezos as an ICO participant in 2017 after reading about it and its backing from Tim Draper. I endured through the long wait for the token issuance, the lawsuit, the Tezos Foundation drama, and the 2018 bear market.
This team and I have been here from the start. However, this is the first project I have been involved with. It was something we talked about wanting to do for years, even during the ICO boom but we never had the tools necessary. Now with DEFI tools it’s finally possible and we can’t be more excited.”
Barry O’Hearn: What inspired you to create the SOIL and FARM tokens?
“Truthfully, the Tezos ecosystem inspired us. We were early farmers on Ethereum and loved the experience….until fees exploded. Once we saw Quipuswap come to life and “coinmania” hit, we knew this was an opportunity.
Starting a project has always been a goal of ours for the past 4 years, but the time or tooling wasn’t available. The stars have finally aligned, and we jumped at the opportunity to add an enjoyable farming experience that benefits all community members.
In our eyes, farming is an exciting way to start experimenting with DEFI on Tezos. Users get a basic feel for buying, adding liquidity, and staking coins, which can be useful in almost every aspect of DEFI.”
Barry O’Hearn: Please share some of your plans and goals for SOIL and FARM.
“Being around for a while has shown us the things we like and don’t like in a project, as well as what works and what doesn’t. We have been around to experience the “man I wish someone would create this product, it would be so useful”. We have a lot of big ideas and an even bigger vision.
Right now, we are focused on releasing the farming contracts. Once farming is live and participants start earning $FARM tokens our focus will shift to $FARM token utility. What we can say right now for $FARM is that we plan on making it a Tezos community focused token. We want to partner with other projects outside of just the Tezos DEFI space to further grow the Tezos community as a whole.
Short term that will be in the form of lottery style airdrops from our project as well as others in the Tezos community (not all of them are token projects). Long term we have some pretty big plans that we will be able to talk about more shortly in the future. The main idea is focusing on the Tezos community and attracting others to join that community.
We want to grow and educate the community, build a project that brings positive light to Tezos, and give everyone a chance to experience the fun and excitement of being a part of the Tezos ecosystem.”
Barry O’Hearn: How do you make decisions regarding future airdrops or development?
“Our team is in constant communication daily and discusses all proposals until a team consensus is achieved. We are on Discord literally all day discussing future plans. We are all close friends that have known each other for years, motivated, and on the same page with future development.
We are planning on airdropping often to $FARMers, individuals that write helpful how-tos, and even winners of future meme competitions. Currently, we are in the middle of completing our roadmap for this year. Once that is shared out, token holders should have a much better grasp on future airdrops and development.“
Barry O’Hearn: You have made your initial airdrop. Do you have any advice for other developers that are planning token airdrops that might help them with the process?
“As you know our airdrop was fully executed on Twitter. It spread quickly as our team has connections in the Tezos Twitter community.
Using a Google Form is a key move. It allows you to output all of the information into a spreadsheet to easily work with as opposed to asking for XTZ addresses in a tweet.
Once in a spreadsheet a contract can be written to send all of the airdrops to addresses. Unfortunately, we had to go through and manually verify addresses as a lot were not active, duplicates or other blockchain addresses (mainly ETH) and this took some time. A tip would be to include parameters that restrain input to only unique XTZ addresses.”
Barry O’Hearn: Will you be doing additional airdrops soon?
“Once farming contracts are completed and $FARM token rewards start, we will be completing lottery style airdrops to $FARM/$XTZ liquidity pool token holders. Airdrops will vary from $SOIL/$FARM/$XTZ to other things like product codes and NFTs from real artists. Lots of things are being planned!”
Barry O’Hearn: Where do you see the SOIL/FARM ecosystem in five years?
“The long-term plan for us is and always has been community growth. Being in the early stages, we already see the endless potential to benefit and grow the Tezos ecosystem. Five years is a long time in crypto, just look what it did to our dear friend One_Bald_Dude’s hairline!
The pure growth of the market just in the years we have been here is unfathomable. The five-year mark will depend on a lot of factors, but we plan to be there. We want to be the project new users come to first on Tezos.
The changes in technology and applications will spur us to expand our use case to meet those needs. We want to be a catalyst to the integration of multiple platforms that already exist on Tezos and lead to a joint effort of mainstream adoption and utility.”
That is fantastic! Thank you so much for taking the time to answer these questions! I’m really looking forward to watch as the SOIL/FARM saga unfolds. Please keep us posted of any new or upcoming events so we can pass them along!
Any content found on this website named xtz.news is an opinion of the author who produced the content and is for information purposes only. Any information, or content found within the website xtz.news is not intended to be investment or financial advice. Find our full disclaimer here.