Article Summary, Automatically Generated By AI
Summary of Goose Finance (EGG)
Key Points
- Launched in February 2021
- Second-generation yield farming mechanism
- Unique burning mechanism: 4% burn when users stake (3% for Golden Egg token, 1% for platform development)
- Layered farming incubator: new farms every 14 days, perpetual entry
- IDO (Initial DEX Offering) and conversion rate of 1:3
- Omega lottery burning mechanism: 4% burning fee per stake, 3% for Golden Egg, 20% of lottery pool burnt
- Circulating supply: 1,089,885 EGG (as of
About Goose Finance: Empowering the Future of Decentralized Finance
Introducing Goose Finance (EGG): A Comprehensive Overview
Introducing Goose Finance (EGG), a pioneering second-generation yield farming mechanism designed to facilitate perpetual price appreciation, while ensuring a sustainable and lucrative farming yield, bolstered by a secure timelock contract. Launched in February 2021, this innovative platform has been revolutionizing the yield farming landscape.
Goose Finance is tackling the pressing issue of substantial market volatility in decentralized finance (DeFi), triggered by users’ large-scale entries and exits. The platform’s innovative burning mechanism operates as follows: every farm is subject to a 4% burn when users stake. This burn is then allocated, with 3% utilized to acquire the coveted Golden Egg token, which is subsequently deposited into the lottery pool, and 1% dedicated to fueling the ongoing development of the platform.
To mitigate the risk of rug pulling, Goose Finance has deliberately excised the migrator code inherited from PancakeSwap, and a timelock mechanism was implemented at the time of launch.
The Visionary Founders Behind Goose Finance
As of March 2021, the masterminds behind Goose Finance have chosen to maintain their anonymity.
Unveiling the Unparalleled Excellence of Goose Finance
Goose Finance (EGG) is a pioneering layered farming incubator. Every 14 days, Goose Finance introduces new farms, offering users perpetual entry opportunities, thereby mitigating the inflation conundrum. This innovative approach gives rise to a novel layer token, dubbed Layer “X” Goose, which emerges every 14 days, unfolding in two distinct ways.
The Initial DEX Offering (IDO) takes place one to three days prior to the commencement of layer farming, with a conversion ratio of 1:3. Subsequently, all pledged Layer 0 eggs are burned. The initial liquidity price of the layers is set at approximately twice the price of the IDO.
Alternatively, one can opt to pledge Layer 0 eggs into a nest that is irretrievable and perpetually yields a Layer “X” Goose.
Additionally, there is the omega lottery burning mechanism, wherein all farms incur a 4% burning fee per stake, with 3% of this amount allocated towards purchasing Golden Eggs, which are subsequently injected into the lottery pool. Notably, 20% of the lottery pool, referred to as the burning fee, as well as the costs associated with lottery tickets, are subsequently destroyed.
The EGG token is a BEP-20 token, seamlessly operating on the Binance Smart Chain, a cutting-edge blockchain infrastructure.
What Is the Circulating Supply of Goose Finance (EGG) Coins?
As of March 2021, Goose Finance (EGG) boasts a circulating supply of 1,089,885 EGG, with no maximum supply data available.
The Security Architecture of the Goose Finance Network
Goose Finance strives to cultivate a pristine environment for yield farming, distinguished by the removal of the migrator backdoor, a vulnerability prevalent in prominent platforms such as PancakeSwap and SushiSwap (SUSHI).
The development team is inherently restricted from manipulating assets by the code itself, thereby guaranteeing the security of the funds. Furthermore, a timelock mechanism was integrated into the contract from its inception, providing an additional layer of protection.
Where to Acquire Goose Finance (EGG): A Comprehensive Guide
Goose Finance (EGG) is currently listed and actively traded on a variety of prominent cryptocurrency exchanges, providing users with multiple avenues for buying and selling this digital asset.
- In the realm of decentralized exchanges, PancakeSwap stands out as a prominent player.
- OpenOcean, a pioneering aggregator, has revolutionized the way we navigate the vast expanse of cryptocurrency markets.
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