Alien's Farm — DeFi Alien Base for Swaps And Farming in The Tezos Ecosystem

2021-12-13 03:56:00 · 857 views · 5 min read

Alien's Farm is an open-source project on the Tezos blockchain from the Degen Tech team. The project is at the stage of active development and implementation of new features, however, a dozen active farming programs, liquidity mining and DEX are available on the platform with TVL over $1,000,000. In this article, we will take a closer look at each of the platform's products.

 

Alien’s DEX Section

Alien's decentralized exchange protocol is powered by token-to-token smart contracts of QuipuSwap — the largest DEX in the Tezos ecosystem. This AMM supports FA1.2-FA2 tokens, based on the Tezos blockchain. Almost 30 popular tokens in the Tezos ecosystem are already available for trading on Alien's AMM.

 

In addition to the classic DEX features, this protocol has a number of additional advantages:

 

  • Users can create any token-to-token pools without limitations. 

  • Optimized routing. Alien’s DEX chooses the most lucrative route for trading automatically.

  • 0.25% trading fee from each trading operation in the pool is distributed among all liquidity providers.

  • Any developer may integrate Alien’s smart contracts and earn a 0.05% referral fee from each trading operation that was conducted via their interfaces. 

  • Users will earn 1% of the staking rewards in the Farm section from each person who followed their referral link.

 

Alien’s Farming Section

Farming is where the story of Alien's Farm began. Built on open-source contracts, farms allow users to earn tokens by staking, yield farming, and in the future, vaulting PAUL tokens.

 

By adding their LP tokens to Alien's farms smart contracts, users earn PAUL tokens. At the moment, Alien's Farm has over 10 running farming programs, with APR from 50% to 500%.

 

 

How to yield farm on the Alien’s Farm:
 

  • Select the farm you’re interested in;

  • Add liquidity to the selected pair on Alien’s DEX or QuipuSwap;

  • Stake the LP tokens received and farm them on our website to get the rewards.

 

Users can also earn combo rewards by staking PAULs in the Mining section. By adding tokens to the selected pool, PAUL holders will receive up to 0.05% from each trade on this pair. And the rewards will be credited not in PAUL, but in tokens that form this selected pool.

 

 

Referral program

Good news awaits for bloggers, influencers and people with strong ties in the DeFi community. Alien's Farm has its own referral program available for everyone. By sending your personal link to new users, you will receive bonuses equal to 1% of their staking rewards in farming programs.

 

Tokenomics

The core element of the platform's economy is the PAUL token, which can be earned by participating in yield-farming programs or exchanged for other tokens via Alien's or QuipuSwap DEXs.

PAUL token address in Tezos blockchain: KT19DUSZw7mfeEATrbWVPHRrWNVbNnmfFAE6

 

At the moment, Aliens Farm uses the same tokenomy model that is used in PancakeSwap. The emission of the PAUL token is unlimited: new tokens for yield farming rewards are generated with each new block in the Tezos network. To regulate the emission and maintain token's value, the team applies deflationary mechanisms in three directions:

  • Decrease emission of new PAUL tokens.

  • Create more PAUL use cases.

  • Develop versatile PAUL buyback and burning mechanics.

 

Each of the farming programs has its own PAUL token emission coefficient. Initially high ratios (to attract more liquidity) decline over time, decreasing the PAUL emission in sync with increasing its value.

 

From a utility point of view, PAUL tokens can now be used to provide liquidity, staking in mining programs or for yield farming. Over time, there will be more PAUL’s use cases.

 

The burning mechanism implies a commission for withdrawing liquidity tokens from some programs. These fees are used to redeem and burn tokens. Backers' rewards are used for the same purpose: the team buys PAULs from the market for their subsequent burning.

 

In addition, Alien's DEX also plays an important role in reducing PAUL emissions:

 

  • A 10% commission is applied when the user withdraws PAUL from the mining pool less than 36 hours after the start of staking.

  • 0.05% commission from each swap is used to buy back and burn PAUL tokens

 

Ultimately, the team plans to achieve negative emission of PAUL tokens using current and future deflationary strategies.

 

Conclusions and plans

Aliens' Farm is an attractive dApp in the growing ecosystem of decentralized finance on the Tezos blockchain. Open-source protocols for decentralized exchange of tokens, farming and liquidity mining cover a significant part of the needs of DeFi users.

 

After the release of the NFT and Vault sections (which are presented on the official Alien's website but have not yet been launched) the value of the platform in the eyes of users, as well as for promoting the Tezos blockchain, will become much higher.

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