Intro to Fry.world — Yield Aggregator + Farming on Binance Smart Chain🍟
Make optimal yields on Binance Smart Chain 💰
Fries will be one of the first projects to build the infrastructure required for yield optimizing strategies on the Binance Smart Chain. Similar to projects like yearn.finance, pickle.finance, and harvest.finance on Ethereum, we have started building out a community led foundation for yield optimizing strategies on BSC.
Binance Smart Chain will give all users the benefit of making profits across various community-voted yield strategies without the extreme gas fee’s and delayed congestion on the Eth network, this gives fries of all sizes the chance to make profits, not just large fries. We love our small fries too 🍟.
BSC provides the best opportunity for yield optimizing platforms to built on top of — where Ethereum yield schemas are limited by the gas costs by the number of transactions and contract functions, Binance Smart chain does not. An example of this is pooling funds together to act as a single entity, combined with auto harvesting, this is a temporary solution limited by Ethereum’s network. This will give rise to new types of strategies which will be impossible to build on other blockchains.
Community led yield strategies ($FRIES + $KHP) 🗳️
$FRIES 🍟holders will share in all rewards and fees accrued on the platform. Fries token holders will also have the option to participate in governance through staking $FRIES to get Ketchup 🍅($KHP) with a portion of how many fries you will stake. Ketchup holders will not only have governance ability, but will allow users to earn extra $FRIES by participating as a “strong fry”, more details on this below.
Ketchup holders will be able to vote on all community led proposals for yield optimizing strategies, and all other governance related activities. The result of this will be a completely democratized community wanting the best for all fryers. The team themselves will have to submit proposals and vote on them with their own Ketchup. The ability to earn ketchup tokens will start after 420,000 blocks (~2 weeks) of farming $FRIES. More details to come about Fry Baskets and pools in the next few days. Through collaboration, we can achieve far more than any of us can achieve alone!
Tokenomics — Deflationary Supply Frying! 🥔
After very thorough discussion and research about various distribution strategies, the Fries team has decided to go with frying as a means of distribution. This will allow the community to vote on additional pools to earn Fries, giving them added liquidity and exposure for future collaborations with us. $FRIES will be a limited supply token, more on the tokenomics:
Burnt Fries 💣
Selling or transferring fries is not a strong fry move. Weak fries will incur a 2% fee on every transaction. Half of this amount (1%) will be burned forever to keep fries deflationary. The other 1% will go to the Strong Fry Reserve , and distributed to the strong fries staking for ketchup.
Dev Fund💱
On every mint from farming fries, the dev fund will receive 2.5% on top of the minted amount. This will give the team the ability to sustain the ecosystem as it grows for development, marketing, liquidity provision, and partnerships. There is no pre-mine or VC funding, and the team will have to gradually receive this full amount over the course of 11 months rather than pre-minting the entire dev fund at once.
Frying and Distribution 🌻
The release schedule will be based on “x” Fries per block until the maximum supply is reached. This will be based on liquidity pools having respective multipliers. To start off, there will be three pools to start frying:
🍔 BURGER: 3x
📈 WBNB: 2x
💸 BUSD: 2x
We here love having our Fries🍟 with Burgers🍔. This is why we have chosen BurgerSwap as the first democratized AMM on Binance Smart Chain to list on. It is one of the most innovative community led projects currently on BSC, this is why we will reward Burger holders with the largest multiplier to start. BNB and BUSD will be the other two major pools to start. As frying begins, we will work closely with the BurgerSwap team to provide benefits to liquidity providers for Fries pools!
Fries will be distributed in two phases: Month 1 (900,000 blocks), and Months 2–11 (9,900,000 blocks). We have chosen a strategy where it is advantageous for early fryoneers, yet still gives a chance for late fryers to come in as they find out about the project. Somewhere in the middle of halving (where way too much advantage is given to the early miners) vs linear (where there is no significant benefit to being an early risk taker).
Starting at block 1,023,000 there will be 825 FRIES farmed total in 30,000 blocks Day 1, after this the rewards will drop daily by ~21 fries every day 30,000 blocks. Therefore Day 2 will have about 804 FRIES, and so on until 900,000 blocks (~1 Month) are complete. After this period, there will be 10 more months of FRIES where the daily reward of 21 fries only drops each subsequent month. This means all of month 2 there will be ~ 221 FRIES farmed daily for the entire month, month 3 will have ~200 FRIES per day, and so on until the maximum is reached. Including the initial 1% burn rate on each mint and 2.5% dev fund, there will be a maximum supply of ~50,600 FRIES 🍟 ever created. This number will end up being lower when the total supply is reached because of the deflationary design of FRIES.
A lot more detailed info to come about further plans, including NFTs for Fry Combos! Please start by joining our community over at:
Telegram: https://t.me/FryWorldFinance
Discord: https://discord.gg/3YANtNr
Twitter: https://twitter.com/fry_world
Website: https://fry.world/
