Wow. This has been a wild ride. So much so that it is breathtakingly difficult to explain just what kind of history we have achieved here. As some say, “few know, even fewer understand.”
As a core group of three people with a vision to bring the first truly decentralized, deflationary passive yield farming protocol, we never imagined to get to this level of growth. This is truly something to celebrate! We want to congratulate everyone who participated in our “ACE” (“Absorber Creation Event”) because without you, we wouldn’t be decentralized, and we likely wouldn’t even exist. Before we get to the cool stuff, and the cooler stuff, let’s reflect on what we exactly are.
What we are — a quick and easy summary
Whether you’re a newcomer to cryptocurrencies, DeFi (decentralized finance), or our project itself, we want you to know that we’re different. The first thing that makes us different is that our token does something that many other tokens do not: we ensure that there’s liquidity in the pool, there’s a burn, and there are passive yield farming rewards. Let’s break it all down.
- Deflationary. The supply is ever-decreasing. Decreased supply means increased scarcity which leads to the compacting of the market cap and a higher price.
- Passive staking rewards. You’re in control of your tokens. Distribution is directly to your wallet. No need to pay any gas to claim anything.
- Continual liquidity harvesting. Every buy, sell, and transfer is harvested by the contract to provide liquidity for all holders of the token.
- Completely decentralized. At the core, no one entity controls the protocol. Anyone can build on it; anyone can integrate it.
If you’re a buyer and a holder, here’s how it works:
- 1 : You buy $100 worth of $Angler
- 2: If the harvesting fees are 4% to liquidity and 4% to yield farming, you will receive 92 $Angler from the purchase with a little bonus (explained below).
3: First part: one tokens are swapped for BSC and are kept as tokens (a pre-requisite for generating an LP token). (Note: this swap causes a part of the tokens to also go to a burn address.)
4:Second part: what’s left of the above is then added to the lifetime (permanent) liquidity pool.
5:Third part: after the contract receives an LP token, the remaining 4 tokens are distributed between all holders. This is why you get a bonus even on sells, and this is a weight-based mechanic (simply put, the larger the wallet in relation to the supply, the more reward is assigned to it).
- The best part is saved for last: as a buyer, you now have access to the token’s reward scheme by simply holding it. That’s not all, though. By having $Angler , you now also have the ability to participate in governance, allowing you to decide how the protocol functions and what its direction should be.
- What exactly does that mean for you, you may wonder? It means that development can continue to give the token even more utility than it already has such as future vaults, arbitrage schemes, loan programs, project integrations, and other future changes. How it’s funded and what can be done with it all depends on the community. We did say this is decentralized earlier, didn’t we? :)……….