Frequently Asked QuestionsWhat is the FTM Crops Farmers?
The FTM Crops Farmer is a decentralized application built on the Fantom Chain. The object of the game is to hire more farmers sooner and more often than other farmers. This in turn earns you more FTM faster. These Farmers work for you tirelessly, giving you a daily average of 6% of your farmers' value.
The daily percentage return depends on farmers' actions that are taken within the platform that impact the farmers's efficiency rate. The farming efficiency rate rises and falls as users buy Farmers, re-hire your earnings and sell your Crops for FTM.
Once Farmers are Bought, they cannot be sold, and the investment made to re-hire them (either through hire or re-hiring) cannot be taken back. However, once bought, Farmers will not stop producing yield.
What makes it different from
other similar platforms?
The FTM Crops Farmer has several anti-dumping and anti-whale measures in place to ensure the longevity of the project. These measures include maximum deposits, as well as a cutoff time AND a cooldown time for withdrawals.
The cutoff time is the amount of time it will take for your "cart" to be full of rewards. Once the bag is full, it will stop filling until you've taken some action in the game. This is to prevent whales from letting their rewards accumulate for a long time, and removes the false impression the contract value is going up when most of it is rewards the whale is waiting to withdraw at once.
The withdraw cooldown time is the amount of time one has to wait before they can make another withdrawal. This also prevents the contract balance from decreasing in value too fast. If the team decides it's necessary to protect the contract balance, this time period can be adjusted to slow down the rate of withdrawals, but it can only be set to a value less than or equal to 24 hours (per contract rules).
The compound count is the number of times the user has compounded. By default, the required compound count by the platform is 10, meaning the user will have to compound 10 times(compound once every 12 hours) before they can withdraw without the feedback tax of 80%. This feature in essense will ensure the longevity and stability of the project.
To reward users who compound, there is a bonus when you re-hire your daily crops earnings instead of selling them. The bonus increases 2% every 12 hours that you compound without withdrawing (20% max after 5 days). This incentivizes the user to compound more often, which will help boost the farms efficiency rate in the long run. To be able to utilize the re-hire bonus feature, the player must not compound before the provided timer reaches 00:00:00.
For the farmers who choose to not play the game and only sell, there will be a 80% tax on those sells that will stay in the contract. If the player makes two or more consecutive sells, this tax will be applied. The only way for the user to not pay the 80% tax is to compound 10 times before making another withdrawal.
FTM Crops Farmer also has a very unique feature that has never been done before which effectively decreases the amount of farmers inflation that occurs over a long period of time. Every sell action will only add 50% of the amount sold to the total supply. Older miner add 100% of what is sold to the total supply. This means the contract will have a lower inflation rate, keeping the farmers supply more scarce and more valuable than other miner platforms.
How does this platform work?
This platform work similarly to a financial market, where an asset has intrinsic value that is relative to the supply or demand of said asset. Farmers are purchased with a pre-determined currency at a price relative to the Farmers's current farming efficiency rate. After the Farmers are purchased, they go to work for you right away to give you the best yield on your investment possible, for as long as possible. Just as any other asset bought and sold on an open market, the price of a Farmers will fluctuate over time, as will the farming efficiency rate, as you and other farmers recruit Farmers, compound earnings and sell earnings. To put it plainly, the more demand for the Farmers, the more they will increase in value and the more yield they will produce. Inversely, when the demand decreases, so will the value of the Farmers and their daily return on investment.
The main difference between a this game and a traditional financial market is that a recruited Farmers cannot be sold, only the value they provide can be sold. As the farmers of the game as a whole compound their earnings and make new deposits, the game efficiency rate will stay relatively constant, but the moment farmers start to sell more than they are compounding, the efficiency rate will begin to drop as to preserve the TVL and longevity of the game.
What is the recommended
The best strategy that the team can recommend is to re-hire/compound for 6 days and harvest 1 day a week. This will increase the users investment at the same time increasing the daily yield earnings. This strategy has already been tried and tested by several project and is proven effective both for the short and long term.