Animal — Piggy Bank — High time-locked bonus ahead
Animal Farm article overview
- Next Defi Destination — Animal Farm
- Animal Farm — Pig Pen Introduction — A great profit opportunity?
- Animal Farm Launch Giveaway — 5’000 USD price to win
- Animal Farm — Dog Pound — Reduce your tax costs
Today we will have a closer look at the Piggy Bank. The Piggy Bank allows you to stake PIGS and BUSD LP tokens and provides you with a daily profit of up to 3%. The specialty of the Piggy Bank is the Timelock Bonus: The longer you lock your deposit, the higher your reward. What does that mean?
If you lock your deposit for 4 weeks, you will earn 10%, for 52 weeks, so roughly a year, you will earn 3'813%, and if you lock it for 2 years, you will get 49'767%.
You can also choose to not lock your deposit at all, but based on my current understanding there will be no interest at all. So not quite sure yet on what the add value for the investor is in that case.
How does this multiplier work for the Piggy Bank? The multiplier will be applied to the principal stake deposit and not the claimable divs at the end of the staking period. This is to ensure a powerful exponentially bonus reward as the stake compound increases the ROI generated from the bonus multiplied principal.
The bonus is not fully applied to the principal on Day 1 of the time locked stake. It is instead applied to the principal amount using the below displayed distribution curve.
- 30% of the multiplier bonus being added to the principal in the first 75% of the stake’s length
- The rest being added exponentially to the principal in the remaining 25% of the time lock up period
The Animal Farm supports also a referral system, similar to what Drip offers already (please see my links below, thanks for your support). Instead of the BR34P tokens used in Drip, the Animal Farm uses a dependency model with a Fibonacci Sequential Progression Model. In other words, the referral bonus you get depends on how many DOGS you have staked in the Dog Pound. The idea is to incentivize DOGS staking and preventing self referrals, which happened a lot in Drip and also other similar systems.
How many Dogs you do need to own?
Here is an important point to know about the Piggy Bank. To quote from the Whitepaper: “US Dollars have no value in the game”. We remember, you have to stake PIGS (AFP) and BUSD LP tokens in the Piggy Bank. They will be swapped immediately to PIGLETS. And PIGLETS produce TRUFFLES and these can be sold again for AFP/BUSD LP’s and reinvested again.
A Piglet produces a roughly every 30 day a new Piglet. That’s how this works:
In other words: 86.400 truffles * 30 days = 2'592'000 truffles = 1 PIGLET
On the Piggy Bank the following transactions are taxed:
- Pair AFP/BUSD LP on an external DEX (exception for Pancake Swap)
- Deposit AFP/BUSD LP
- Claim AFP/BUSD LP
*Once AFP/BUSD LP is deposited, they are permanently added to the contract pool and cannot be withdrawn.
Interesting for the Pig Pen investors: The PIGGY BANK 5% deposit and withdrawal fees are collected in the form of AFP/BUSD LP pairs:
- the AFP part goes to the Pig Pen dividend vault
- the BUSD part pays for Dev fees and marketing.
Team / Referral links / Support
Would you like to be part of the Animal Farm? Please use my referral link to support my work. Thank you.
Drip: If you are not yet part of the Drip Network, please feel free to join my team here: