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About Tulip Protocol
Key Points
- Solfarm is a decentralized yield aggregator on Solana blockchain with auto-compounding vault strategies.
- It allows vault strategies to compound frequently and provides stakers with higher APY while requiring less active management.
- Solfarm has undergone iterations, adding double-asset reward pools and leveraged farming.
- Founders are a group of anonymous individuals with experience in DeFi space.
Unique Features
- Leveraged yield farming with borrower and lender, earning variable deposit rate with automatically compounding interest.
- Leveraged yield farming bears directional risk and liquidation risks.
- Solfarm offers
Introducing Tulip Protocol: A Revolutionary DeFi Solution
Introducing Tulip Protocol: A Revolutionary DeFi Solution
Solfarm pioneers the decentralized yield aggregator landscape on the Solana blockchain, boasting auto-compounding vault strategies. By leveraging Solana’s low-cost, high-efficiency blockchain, the platform enables vault strategies to compound frequently, thereby providing stakers with elevated APYs while minimizing the need for active management. Although still in its beta phase, with all code being experimental, Solfarm strives to deliver a seamless user experience, optimized for maximum APYs and “set and forget” strategies. Drawing inspiration from Uniswap on Ethereum and PancakeSwap on BSC, Solfarm furnishes liquidity to Solana-native DEXes, such as Raydium and SABER. By providing liquidity on Solfarm, users can earn interest on their investments and receive the platform’s native governance token, TULIP, while the exchanges benefit from enhanced liquidity.
Solfarm has undergone a series of transformative iterations. Notably, the team has introduced double-asset reward pools post-launch and enabled leveraged farming capabilities. Looking ahead, Solfarm is poised to refine its frontend, thereby elevating the user experience, and is set to unveil a revamped V2 version of the farm.
The Visionaries Behind Solfarm: Meet the Founders
Solfarm was established by a group of anonymous individuals with a strong background in the DeFi space. The co-founders, “Momo” and “senx”, bring a wealth of experience to the table. “Momo” boasts four years of experience in managing blockchain projects, with a particular focus on DeFi products, while “senx” has accumulated multiple years of operational expertise in top-tier crypto exchanges and is an accomplished on-chain farmer. The Lead Developer, “therealssj”, has been active in the space since 2017. “Post”, the senior developer, has a strong foundation in systems administration and has been involved in the ecosystem since 2011, with a specialization in blockchain development. “Littlepoggers”, an enthusiast of mining and node-running, serves as the System Admin & Junior Developer. Rounding out the team is “barney”, the UI/UX Developer, who brings valuable experience from two unicorn startups.
Unveiling the Unparalleled Excellence of Solfarm
One of Solfarm’s key value propositions lies in its leveraged yield farming capabilities. Similar to traditional yield farming, leveraged yield farming involves a borrower and a lender, who deposit their assets into a lending pool to earn a variable deposit rate with automatically compounding interest. This enables yield farmers to amplify their positions and reap even higher annualized yields, although they remain susceptible to smart contract and liquidation risks. Notably, Solfarm’s liquidation threshold is set at an 85% loan-to-value ratio, at which point the position will be forcibly closed, and the collateral will be returned after the loan has been settled and the liquidation bounty has been paid.
Leveraged yield farming also entails a directional risk. A farmer who supplies USDC and borrows RAY to farm in the RAY-USDC liquidity pool is, in effect, taking a short position on RAY. Should the asset’s price appreciate, RAY will be sold from the pool, exposing the borrower to impermanent loss. If left unmanaged, this scenario can culminate in liquidation.
Solfarm boasts competitively low vault fees, providing farmers with the following structures:
Raydium Vault Fees: A Comprehensive Breakdown
- The controller’s commission is set at 0.1%.
- A platform fee of 1.4% is applicable.
- Vault fees are waived, with a rate of 0.0%.
- We do not charge any deposit or withdrawal fees.
SABER Vault Fees Structure
- The controller’s commission is set at 0.1%.
- A platform fee of 1.4% is applicable.
- Vault fees are waived, with a rate of 0.0%.
- We do not charge any deposit or withdrawal fees.
What Is the Circulating Supply of Solfarm (TULIP) Coins?
TULIP boasts a total supply of 10 million tokens, with the allocation divided into the following ratios:
The Team – 20% Allocation
Advisors – A dedicated 2% allocation
Treasury Allocation – 12%
Liquidity Provision – A 5% Allocation
Strategic Growth: 12%
Liquidity Mining and Ecosystem Development: 48%
All team tokens are subject to on-chain vesting, featuring a six-month cliff and a three-year linear vesting schedule. Similarly, advisor tokens are bound by comparable vesting periods. The treasury bootstrap will be allocated for future protocol maintenance and potential protocol incentives, including buybacks and token burns. Furthermore, liquidity provision will be reserved for AMM liquidity, if necessary, and possible Fusion pool rewards.
The Solfarm Network’s Robust Security Framework
Solfarm pioneers the yield farming landscape on the Solana blockchain, a platform renowned for its lightning-fast transaction times and negligible transaction fees, thereby emerging as a formidable rival to Ethereum.
Solana is a layer one blockchain that leverages a proof-of-stake consensus mechanism, bolstered by partial Byzantine Fault Tolerance. With a global network of 200 nodes, it is capable of processing an impressive 50,000 transactions per second at peak performance. By implementing a suite of carefully orchestrated optimizations, Solana achieves unparalleled speed, distinguishing itself from slower blockchains through its innovative multi-threaded transaction processing capabilities.
When Will Solfarm (TULIP) Trading Commence?
Solfarm debuted in late April 2021, with TULIP being unveiled two weeks later, following the conclusion of the public beta phase. As a gesture of appreciation, farmers who participated in the public beta period were retroactively rewarded for their contributions.
Where to Acquire Solfarm (TULIP) Tokens
TULIP is proudly listed on esteemed exchanges, including Serum, Gate.io, and Raydium, further expanding its market presence.
Associated Resources:
Discover Solana (SOL), the cutting-edge, high-velocity blockchain that underpins Solfarm’s innovative infrastructure.
Discover Raydium (RAY), the pioneering decentralized exchange built on the Solana blockchain, revolutionizing the digital asset landscape.
Delve into the world of decentralized finance and discover the intricacies of yield farming in our comprehensive beginner’s guide.
Stay ahead of the curve with the latest cryptocurrency news and expert trading insights, all in one place, on the CoinMarketCap blog.