Rolling out Farming 2.0
Tinyman is planning on a series of updates to the Farming (Staking) programs. These updates will include new Farming methods and updates to our interface to enhance your Farming experience.
Did everybody get their Tinygotchis? Awesome!
Our main update is the NFT-enabled farming pools. What does NFT-enabled mean? Let’s discover it together.
However, before telling you about this feature, it’s best to revisit the events following the January hacks. In those attacks, 4 pools/ASAs were hit much more heavily than the other pools. Those were goBtc/Algo pool, goEth/Algo pool, Yieldly pools, and Opulous pools. In the aftermath, Tinyman poolers were compensated for all the losses they suffered along with Tinygotchi NFTs.
For the past few months, our community has been asking many questions about these Tinygotchis. There were many ideas and suggestions for its possible utilities. We even observed some trading of Tinygotchis in NFT marketplaces, depending on how it looks and the expectation of a future use case.
Lucky for those who held on to theirs, the time has finally come to put Tinygotchis to use!
We have devised a new and final package within the compensation program that will give Tinyman poolers an additional opportunity to gain more rewards. This package involves four pools for farming that you will only be able to participate in using your Tinygotchi. This unique feature will give exclusive access solely to Tinyman poolers that suffered the hacks. So, if you haven’t done it already, claim your Tinygotchi and head over to our farming page!
Starting from Monday, new farms on Tinyman will distribute daily rewards for four pools. As explained above, you will only be able to begin farming if you have your Tinygotchi NFTs in your wallets. The farms will last for 40 days, and the fixed rewards will be given proportional to the participants’ Pool Token amounts. This is also a new approach as we have given rewards with only fixed APRs until now. These new types of farms will help us measure our users’ enthusiasm and behavior with different mechanisms.
Last but not least, we want to extend our appreciation to the Algomint and Yieldly teams for their additional commitments to these farms for a total of 500k goMINT and 5M YLDY. When we reached out to them and asked if they’d like to pitch in, they didn’t think twice about supporting the cause. Such solid commitments will always inspire us and make us believe more in the strong bind we have in our Algofam. Thank you very much for your support, Algomint, and Yieldly!
Here are the details for our new farms:
Total duration: 40 days
Dates: 20/06/2022 – 29/07/2022
Conditions: Having Tinygotchi NFT (ASA ID: 671977571) in user wallet and committing at least 0.1 Pool Token
Farming Type: Daily Fixed Reward
Reward Amounts per day:
goBtc/Algo: 1250 Algo + 6250 goMINT (ASA ID: 441139422)
goEth/Algo: 1250 Algo + 6250 goMINT
YLDY/Algo: 1250 Algo + 125k YLDY
OPUL/Algo: 1250 Algo
Your time to shape our future
New features, partnerships, and developments are all for our beloved Tinyman and Algorand community. Whether you will be a part of these new initiatives or not, we always look forward to hearing from you. We hope to see you on our channels!