The DeFi 3.0 world is, like any young industry, a fast-moving one. Every week we discover exciting news in the sector and, among these, today we will talk about one that has attracted our attention. The cooperation between yield farming and cross-chain technologies represents the main challenge of a new project: Cross Chain Farming.
This article will introduce the main aspects that Cross Chain Farming is raising. The project started a few months ago and plans to complete the first development phase by Q3 2022.
The review we provide is impartial, and we will focus on the key aspects for investors of this ongoing project.
How Cross Chain Farming plans to gain your trust
First of all, we believe it is essential to specify the three pillars that CCF intends to use to earn your trust:
- Fair start-up: unlike other competitors, this project relies on a fair sale of tokens. Therefore, no group with privileged access to the market are created
- Fighting rug pulls: too often, we see cases of criminals creating a coin and then disappearing with the investors’ money. Cross Chain Farming forces token creators to lock their coins until 2025 in order to avoid such an unpleasant situation
- Low fees: the entire system works on Binance Smart Chain (BSC) and, in this way, offers low costs to everyone
The project has its own native token, named $CCF. The following section will provide more details about the tokenomics behind this system.
The $CCF token is available on DexTools, Poocoin, and PancakeSwap. Before proceeding with the investment, we indicate below some crucial aspects that you should consider:
- The token comes with a maximum supply of two trillion samples
- The system has an automatic deflationary mechanism. A part of the transaction fee is burned, consequently reducing the number of tokens around
- When the project began, 300 billion tokens were instantaneously sent to a burn wallet
Any purchase or sale operation is liable to a 12% tax, as described below:
- 3% price maintenance: to help the system preserve itself, 2% of the coins are burned, and 1% goes to the liquidity pool
- 3% reflection for holders: as a passive income, a part of the tax is converted in coin reflections. $CCF holders receive these reflections
- 3% farming: asset management and farming is also important, with a part of the tax reserved for this purpose
- 3% marketing: in order to promote the project, a part of the tax serves the purpose of helping CCF grow
A practical example
Beyond the theoretical premises, it may be useful to provide you with a practical example of negotiating with this DAO. First, you can find relevant information on the project by visiting the official website, the Telegram channel, or the Twitter profile.
There are several exchanges through which one can buy $CCF. By connecting to PancakeSwap, for example, it will be possible to find this new token and insert it into your virtual cryptocurrency wallet.
As already mentioned, each purchase (and sale) of $CCF comes with a 12% tax. You can find more information about the purpose of the fee above, but we add some details below:
- The system wishes to reward the long term holders of the project
- Farming operations produce profits that the DAO uses to support token price action and liquidity
- We have already mentioned the creation of a burn wallet. Furthermore, the DAO has a spot portfolio in order to airdrop the farming profits to the holders
- Profits are distributed as $BNB
Why use a third party for yield farming
The way yield farming works is, apparently, relatively straightforward. Each online review explains that essentially all you need to do is freeze your cryptos to earn more tokens. However, it is useful to understand that this description may appear too simple.
Carrying out yield farming in an optimal manner is a complex operation. Quarter after quarter, the possibilities for farming have grown, creating a vast range of services on the market. The average investor could be confused by the abundance of alternatives and make assessment errors.
The cross-chain mechanism (which allows independent blockchains to communicate) may significantly boost yield farming. This technology allows the application of complex strategies to have good profits without losing opportunities to whale investors.
For this reason, projects such as Cross Chain Farming can bring attractive investment opportunities to small traders.
Our conclusions on the project
Projects like Cross Chain Farming make the world of DeFi 3.0 more and more interesting every day. Crypto enthusiasts are conducting a series of industry experiments searching for an excellent blockchain product.
Cross Chain Farming is leading the way in terms of security and transparency. This is also why we consider CCF one of the blockchain sphere projects to keep an eye on in the coming months.
Disclosure: This is a sponsored post. Readers are encouraged to conduct further research before taking any action. Furthermore, Crypto Adventure does not endorse any crypto projects cryptocurrencies listed, mentioned, or linked to on our site.