DOGEFARM Review
DOGEFARM
dogefarm.dog
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Their Official site text:
| Welcome to DogeFarm!
Being built with the belief in the innovation of ZK rollups and Optimistic rollups, DogeFarm is the pioneering decentralized Real Yield platform on zkSync.
Don’t just save your money. Learn, Invest and Earn More!
#DogeFarm is a Decentralized Real Yield platform built on zkSync that empowers "farmers" to transform their idle assets into a steady stream of passive income with higher APY, lower gas fees, and no active management required.
#DogeFarm provides our users with a diverse choice of investment opportunities through the integration of multiple Liquidity Pools (LPs) and Automated Market Makers (AMMs), controlled by rigorously audited smart contracts. We prioritize the security of our users' investments, so our investors can rest easy knowing their assets are in good hands.
At #DogeFarm, we also believe in the power of financial autonomy. That's why we offer users complete control over their digital assets, giving them the flexibility to invest in the opportunities that align with their goals and aspirations. With a user-friendly interface, DogeFarm users can easily manage their portfolio and focus on growing their wealth.
But we're not content to rest on our laurels. Our ultimate vision is to build a bridge between zkSync and DOGE coin network, unlocking new avenues for growth and prosperity. And with our passion for innovation, we believe that #DogeFarm users can rest assured that we'll continue to stay ahead of the curve in the rapidly-evolving DeFi landscape.
Why ZK Roll-up?
ZK Roll-up is a layer 2 scaling solution for blockchain networks that seeks to improve scalability, transaction throughput, and reduce costs. It does this by bundling many off-chain transactions into a single transaction that is submitted to the main blockchain, thus reducing the burden on the main chain and increasing its capacity.
One of the key advantages of ZK Roll-up is its use of zero-knowledge proofs (ZKPs) to ensure the validity of transactions. ZKPs are cryptographic protocols that enable a verifier to confirm the authenticity of a statement without requiring any knowledge of the statement itself. In the context of ZK Roll-up, ZKPs are used to prove that the off-chain transactions that are being bundled into a single transaction are valid and that the resulting state changes are legitimate.
ZK Roll-up has several benefits over other scaling solutions, such as:
Security: ZK Roll-up uses ZKPs to prove that the transactions being bundled into a single transaction are valid, ensuring that the state changes are legitimate. This means that ZK Roll-up is highly secure, and users can have confidence in the integrity of their transactions.
Scalability: By bundling many off-chain transactions into a single transaction, ZK Roll-up increases the capacity of the main blockchain, enabling it to handle more transactions per second. This makes ZK Roll-up a highly scalable solution for blockchain networks.
Cost-effectiveness: By reducing the burden on the main blockchain, ZK Roll-up reduces the cost of processing transactions. This makes it a cost-effective solution for users who want to transact on the blockchain.
zkSync Era: The Optimal Destination for DogeFarm
What is zkSync?
ZkSync is a layer-2 scaling solution for Ethereum that uses zero-knowledge proofs to enable fast and low-cost transactions without sacrificing security.
Learn more about zkSync at:
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zkSync is the ideal destination for DogeFarm due to its fast, cheap, and secure transaction processing, support for smart contracts, and other features that improve the user experience. By migrating to zkSync, DogeFarm can enhance its platform and offer users a more efficient and cost-effective way to interact with DeFi applications.
Firstly, zkSync is a layer 2 scaling solution that uses zero-knowledge proofs to batch and compress transactions off-chain before committing them to the Ethereum network. This approach significantly reduces gas costs and increases transaction throughput while maintaining the security and decentralization of Ethereum.
By using zkSync, DogeFarm can offer its users fast and cheap transactions with a high level of security. The platform can take advantage of zkSync's rollup architecture to handle large volumes of transactions without congesting the Ethereum mainnet.
Additionally, zkSync supports the execution of smart contracts, which allows DogeFarm to implement complex financial applications such as real yield and staking. These features were previously limited on Ethereum due to high gas fees, but with zkSync, DogeFarm can now offer users a seamless and efficient experience.
Last but not least, zkSync offers several benefits over other layer 2 solutions such as Optimism and Arbitrum. For example, zkSync provides instant finality for transactions, meaning that users don't have to wait for confirmations before their transactions are considered valid. This feature is particularly important for DeFi applications where time is of the essence.
Real Yield
Instead of just having DOF/ETH stored in a wallet, users can effectively earn more $DOF through Real Yield. With transaction fees, token rewards, interest, and price appreciation all contributing to earnings, DogeFarm farmers can maximize their profits at DogeFarm.
DogeFarm offers a high-yield interest rate that fluctuates based on demand, enabling users to earn interest on their investments daily and with boundless earning possibilities.
The accrues daily, and you get paid in:
$DOF: 30% Locked & 70% Unlocked
Real Yield Points - based Revenue Sharing
Users can claim unlocked $DOF rewards at any time. Once compounding, unlocked $DOF and locked $DOF have the same value.
Staking
Staking on DogeFarm is a top-notch feature that allows users to stake any amount of ETH or DOF for DOF rewards, with no minimum deposit restrictions or transfer/redemption costs.
With a consistently high APY rate, staking on DogeFarm presents an opportunity for users to maximize their earning potential while maintaining complete control over the expected returns.
The staking are made up of 50% locked $DOF and 50% unlocked $DOF, providing users with a balance of short-term and long-term gains.
In addition to the $DOF awards, DogeFarm stakers can expect to receive real yield points-based revenue sharing as well. This demonstrates the platform's commitment to recognizing and rewarding their contributions.
Users can claim unlocked $DOF rewards at any time. Once compounding, unlocked $DOF and locked $DOF have the same value.
DogeFarm Bridge (In R&D)
DogeFarm is building a Bridge that allows users to move tokens, assets, and data from zkSync to the DOGE chain in real time. This cross-chain feature enables a more connected and accessible environment, opening up new and novel application possibilities.
Another significant element of DogeFarm is scalability, which enables dApps to use the power of different blockchains, hence boosting their capabilities. This capability allows dApps to grow effortlessly, eliminating the need for complex and costly infrastructure.
Moreover, with this bridge, DogeFarm can even handle a larger number of transactions, improving network overall speed and performance.
Rewards
Real Yield and Staking are two yield-bearing features that offer users limitless earning potentials. Staked ETH, DOF or Farmed DOF/ETH receive 3 types of rewards:
Unlocked DOF: Claim at any time
Locked DOF: Claim every 90 days.
Real Yield Points: Share ETH Vault Proportionally.
Determinants of Rewards
The percentage of locked/unlocked $DOF depends on each feature the user participates in.
Real Yield Points reward long-term farmers and stakers without inflation. These points will be determined directly based on Stake/Farm Value and Timestamp, ensuring that rewards are allocated fairly and accurately.
For more information, please see & pages.
Real Yield Points can be staked for revenue sharing from the . As a project that promotes transparency and fairness, DogeFarm will integrate an exclusive Leaderboard for calculating and tracking Real Yield Points within the entire platform. The higher the rank, the greater the reward shared.
However, it's important to note that if DOF, ETH or DOF/ETH pairs are unstaked, the corresponding Real Yield Points will be automatically burnt.