Today, we are going to tell you about a new project that is likely to cause a sensation. For what? If you know the principle of copy-trading with sites like Etoro ou Diabolo, then you will understand the issues of the platform more quickly.
If you are not familiar with copy trading, tell yourself that it is the act of copying the strategies used by traders. Thus, we open exactly the same positions (and close them at the same time) as the trader. The principle is to do the same operations as winning traders, without having any trading knowledge. In absolute terms, therefore, we make profits thanks to this copy and paste which requires no technical knowledge.
Well, as far as Donkey Finance, it is exactly the same principle, except that it is not trading operations that we imitate, but rather Yield Farming.
Again, for those who don't know the Yield farming (Yield Farming on DeFi), understand that it is the act of “cultivating” (usually staking) newly launched tokens. This is, in short, what Yield Farming is. This allows us to generate very attractive returns depending on the farms and tokens we grow.
However, on paper, we tend to speak only in positive terms about Yield Farming, emphasizing the fact that it allows you to generate passive income. This is a fact, of course, but you still need to know about this field full of thorns and useless tokens. You should also not cultivate tokens that are only in name (as they say "degens"). So, making profits with Yield Farming, in a simple way, is the ultimate promise of Donkey Finance. This is also why this platform is eagerly awaited in the community of apprentice and expert farmers.
In short, now that the theoretical explanations have been given, let's take a closer look at what the project is. Donkey Finance. Naturally, by analyzing the fundamentals, we will be better able to decide whether to invest in this project or not.
Presentation of Donkey Finance
As mentioned above, Donkey Finance wants to democratize farming among DeFi users. Indeed, it is still a new discipline and there are ultimately few followers as it requires a certain knowledge (theoretical and somewhat technical) of the thing. Basically, this will make farming easier for many people.
? So, by simply offering to copy the best DeFi farmers, the promise is enticing, even for a beginner. He will be able to record the same results and pocket the same profits as the most successful farmers, in just a few clicks.
Let us also remember that Yield Farming is certainly still a new discipline, but it is also a vast and varied discipline. There are several types of farms, different mechanisms involved and it is not easy to navigate among all the offers (even for the most experienced among us).
Likewise, we must also clarify that Yield Farming is not a risk-free activity. It’s not easy to be profitable either. IYou have to know how to select the right farm, the right token, understand the risks of impermanent losses, slippage losses, etc. You also have to be quick in your decisions: knowing how to enter quickly and knowing how to exit just as quickly. You also need to know how to develop good strategies. Borrow a certain amount here and make it grow there. A successful farmer uses many protocols at the same time! It's not as simple as we would like to believe, it must be said.
Farming is suitable for the most courageous in DeFi, those who like to take risks and who assume them. Of course, we can win a lot but we can also lose.
Also, let's emphasize that the platform wants to be simple in the arrangement of strategies. Even though the strategies can be complex, they can be easily understood on a clear and straightforward interface that works with the drag-and-drop principle.
This is why copying the best farmers proves to be the ultimate boon. A windfall made possible thanks to Donkey Finance.
How will it work in practice?
There will be two ways to participate in Donkey Finance:
- Be a farmer and propose your strategy to others. Each time a user follows the farmer, then he will earn part of the transaction fees in DON token.
- Be a participant and follow farmers' strategies.
Likewise, here is what we can do on the platform:
- Strategy Builder : The simple interface will allow you to develop strategies and plan them according to the different protocols in a simple way.
- Farmer's Reputation: Farmers will be ranked and rated according to their performance to better choose them.
- Investor Reputation: the best participants will be able to unlock levels and access exclusive opportunities.
- Rewards: the best farmers and liquidity providers will receive rewards in the form of DON tokens.
- Non-depository pool: We can save costs by grouping investments in common pools.
Also, we are talking about farming, of course, but there will also be liquidity providers. There will also be pools to allow all Don token holders to earn more.
How to obtain and invest in the DON token?
If you think you are going to use the Donkey Finance platform or if you simply believe in the project, then you will want to invest in the DON token.
You should know that you had to register for a whitelist beforehand to participate in theIDO (Initial Dex Offering) launched on the launchpad Superfarm.
Registration on the whitelist ended on May 9.
The sale via the IDO will be effective on May 14 (the time is not known, for this, the ideal is to register on the Don-key Finance Telegram group).
If you were unable to register, to purchase the Don token before its listing, you will therefore need to be patient.
That said, it's still not too late, don't forget that the platform is not yet public. That said, of course, if you had purchased donation during the sale on the IDO, then, yes, most certainly, you will have made a very good deal (if we assume that the platform will be very successful) .
Therefore, it will be necessary to monitor in particular pancake swap (to avoid buying it with gas fees too high).
The Don token will also be usable on Ethereum, Binance Smart chain and Polkadot.
Should you invest in the Donkey Finance project?
What gives a very good signal to invest in DonkeyFinance is in particular the excellent private financing that the company has managed to raise. More than $2,2 million was invested directly in the company for the first round. The investment funds that participated are some of the most reputable and strongest funds in the field (Black Edge Capital, AU21. Genesis Block Ventures, Spark Digital, Solidity Ventures, MoonWhale and Morningstar Ventures).
The elite of investment funds have invested in this project. This shows you the potential of Donkey Finance, from a professional perspective.
Gil Shpirman is the co-founder and CEO of Donkey Finance. The team is rather present on Twitter and the origins are multiple: Israel, Ukraine, Cyprus and India. We have not yet found a page on Linkedin for example but given that the public sale has not yet been launched, this is understandable.
We will talk to you again about this project in any case, as soon as it is released, we will certainly make a tutorial!
Note: This is not financial advice of any kind. Do your own research for all projects in the crypto universe. Only invest amounts you can afford to lose. Zonebitcoin cannot be held responsible for your investments.
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