Yield Farming meta-level solution : altcoin

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Yield farming is:

A) a whale game where you need to figure when to dump before the others
B) causing small projects to be dumped close to zero

The classic ‘they come, they eat, they leave’. Naturally, it is a good thing when a project is not anything special — bad projects don’t deserve long-term price appreciation. Yet, we’ve seen projects with extremely high-quality development and technology being dumped in the beginning and then rise from the ashes. They are now solving these problems even if the token price during early days dumped to close to $300K market cap.

Here we go, let’s fix the problems:

Tokens represent governance. One governance token governs one ecosystem, right? For example, SushiSwap governance happens through SUSHI tokens. If you want to be part of several communities and make your vote matter, you need many different tokens…

But what if you could own a governance token that was governing 10 or 100 projects at the time? As farming gives you governance token rewards, you will dump that token on the market for ETH.

What if there was a platform that would:

A) reward you in ETH
B) execute governance token to be bought from the market and distributed to you, IF you chose to take your rewards in the governance token instead of ETH?
C) Incentivized no dumping of the governance token, and was built only on solid ‘pumpamentals’.

Dracula Protocol does this. When you have different LP-tokens from several other farming projects Dracula gives you the option to stake them on its native platform. It then farms your tokens and automatically sells the “victim” governance tokens to the market for ETH, keeping just a tiny portion of the “victims” governance token in Dracula’s vault — we will come back to the vault part in a moment.

V2 Scheme

r/altcoin - Yield Farming meta-level solution

V1 Scheme

Now, the ETH rewards then get automatically compounded with ETH staking on a trusted platform such as AAVE, so the rewards get another boost. In plain English: Growth for everybody instead of just the whales. When you decide to harvest your rewards, you either choose to receive all that ETH, or if you choose to receive it in Dracula governance token DRC, the code automatically buys DRC from the market and distributes DRC to you.

But why would you want to receive the governance token?

The vault now holds governance tokens from other protocols. Let’s say Dracula would have 2% of all circulating tokens of SUSHI in its vault. If you then hold DRC, you are holding tokens with 2% voting power in SUSHI governance. Dracula will delegate the voting power from its partners to DRC holders. While you stake your DRC on Dracula, you will also be receiving a small portion of all ETH rewards piled on the platform. Like a structured note.

Dracula save you money on gas fees by harvesting and selling underlying rewards into ETH for you automatically. These fees are paid using a portion of the revenue from everyone’s yields so that it is essentially crowdfunding the costs and lowering the overall average cost per user. In staking, users save money through the automation of compounding yields and crowdfunding gas costs. The entire protocol is governed by the DRC token, which can also be staked to earn a percentage of all yields from underlying platforms.

V2 launches this April. V1 already exists for 6+ months.

Sub r/Draculaprotocol
CMC: https://coinmarketcap.com/currencies/dracula-token/ratings
Website: Dracula.finance or Dracula.sucks (both are legit)
DAO: https://snapshot.org/#/dracula



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