Introduction To Investing on the Animal Farm
Disclaimer: None of what is written in this article constitutes financial advice. Investing in cryptocurrencies, and in particular decentralised finance, is high risk. What I write is not a recommendation to invest in the projects I discuss. I am not aware of your personal circumstances. Only invest what you can afford to lose. Make sure to do your own research rather than relying solely on my content.
Quick Note: The actual token name for DOGS is AFD and for PIGS is AFD. The term DOGS and PIGS are used throughout the article.
The basic strategy to participate in the Animal Farm is to invest in the pools and farms like a person would on Pancake Swap. Instead of receiving CAKE tokens, the investor receives their staking rewards in the DOGS token. DOGS can be staked through the single asset staking pool or by pairing it with BUSD or BNB to stake the LP in one of the core farms. Holding on to DOGS ultimately allows stakers to earn PIGS. PIGS tokens are then staked in the Pig Pen to receive BUSD. This set up means that users don’t need to sell DOGS or PIGS and can set up perpetual rewards.
The ultimate goal of anyone entering the Animal Farm should be to accumulate as many PIGS tokens as possible to become a part owner in the Animal Farm. This allows the investor to live off the BUSD dividends paid to Pig Pen stakers.
This article will give a quick overview of the 4 goals of investing in the Animal Farm. In my next article I will give a specific low-risk strategy that you can use to get started in the Animal Farm. Before that, you first need to understand what your goals should be.
The 4 Goals of Investing in the Animal Farm
Before considering an investment strategy for the Animal Farm, it is vital to understand what I call the 4 Goals of the investing in the Animal Farm.
- Accumulate as many PIGS tokens as possible.
Accumulating PIGS tokens allows you to stake them in the Pig Pen to earn BUSD dividends. You can do whatever you want with the BUSD you receive and never need to sell PIGS to keep receiving passive income.
2. Accumulate as many DOGS tokens as possible.
This aim can easily be forgotten if the first goal is not considered more broadly. You can earn BNB dividends by staking DOGS in the Dog Pound, but by staking DOGS in the auto compounding pool, you convert your BNB into the DOGS/BNB LP so that you can earn more PIGS in the farm. Additionally, you can pair up your DOGS with fresh BUSD or BNB to create LP that can be staked to earn PIGS. The point is that accumulating more DOGS allows you to earn more PIGS.
3. Accumulate as many DRIP tokens as possible.
The Animal Farm also aims to provide more utility for the DRIP token. On the Animal Farm you can stake the DRIP/BUSD LP to earn more PIGS. This is one example of a use case for DRIP and Forex Shark has a roadmap that will look to provide additional utility for DRIP in the future.
4. Don’t Forget the First Goal
Regardless of what you do with DOGS and DRIP, don’t forget that the goal should be to accumulate as much PIGS as possible in the long term. It is better to hold on to your DOGS and DRIP in order to accumulate more PIGS without having to buy on the market. The position in the three tokens should be balanced with all of this in mind. This can also include buying PIGS.
Final Thoughts
With the recent price action in PIGS it could be tempting to load up on PIGS. However, over the long term it will be beneficial to hold DOGS and DRIP so that you can accumulate more PIGS in the future. A long term mindset is needed to benefit the most from investing in the Animal Farm.
Animal Farm Links
Animal Farm Home Page: https://defi.animalfarm.app/
Drip Garden Referral Link: https://defi.animalfarm.app/garden/0xDa805dBC6530c9ed1360b7c61624613c4Fe380a9
Piggy Bank Referral Link: https://defi.animalfarm.app/piggy-bank/0xDa805dBC6530c9ed1360b7c61624613c4Fe380a9
Drip Network Link
You need a buddy address to deposit DRIP into the Faucet. If you would like to deposit DRIP into the Faucet you need a buddy address. If you would like to use my address please feel free to do so. There are other bigger players that may be able to promise more airdrops.
Drip Faucet Buddy Link: drip.community/faucet?buddy=0xa7AC3Ea7D8dEC039F459934Cb0d0152a2e2B28f1
Drip Buddy Address: 0xa7AC3Ea7D8dEC039F459934Cb0d0152a2e2B28f1