✨🧨Reaper☠ V1 $FRIES🍟 vault initial release + Next Steps
How does it work?
The first reaper vault ☠ will start with users depositing $CAKE, and stakes the cake directly on PancakeSwap. Every time a harvest happens, the $CAKE is auto-compounded with the following fee structure:
* 5% of cake is sold for $FRIES and sent directly to $KHP Holders
* 5% of cake is sold for $FRIES as a performance fee
* 2% of cake is sold for $BNB and sent to function caller as gas fee
This means 88% of the cake is auto-compounded.
Note, there will be no withdrawal fee on this first vault. Users can withdraw anytime they wish without getting charged a strict withdrawal fee.
The UI will show the $ profit amount a user has made in real time. Everytime a withdrawal happens, the user get a portion back of their original amount (all of it if they withdrawAll), + the $ profit amount is used to market buy fries and pays out the user in fries.
The basic process is to deposit $CAKE to stake > wait for $ profits to go up > withdraw shares to earn back original $CAKE and $FRIES as profit.
You deposit $CAKE🥞 to the reaper vault. The CAKE is then staked on pancakeswap. It then auto harvests and converts all profits into $FRIES🍟 at market price.
This means moving forward you can contribute to the movement of the market price of $FRIES🍟 by depositing $CAKE🥞. Your $CAKE🥞 tokens will never decrease we only use the profits to market buy $FRIES🍟 for you.
Will we add more reaper ☠ vaults?
Yes! There are multiple reaper vaults being worked on for various projects on the Binance smart chain. After getting more feedback from the community on the reaper fee structures, we will start to deploy more reaper vaults. The majority of reaper vaults will be based on high-tvl farming opportunities on BSC. We encourage any community members to share their strategies with us on telegram or discord for new BSC farming projects.
What’s next for $FRIES🍟?
The next major updates alongside reaper vaults will be vaults dedicated to long term projects which benefit the Binance smart chain. The first project we chose to make vaults exclusive for was Pancakeswap as one of the leading AMMs on BSC which also gave opportunities to users for farming. We have finalized the next project to give vaults for and will be announcing this on telegram by next week. We have been busy the last week working on multiple vault strategies for them. We are also going to follow major yield optimizing projects on Ethereum by eliminating our set withdrawal fee for v2 vaults, and charging a performance (harvest) fee instead. A detailed fee structure for main vaults
The $FRIES🍟 team is working tirelessly to consistently bring out new features and updates to the $FRIES🍟 ecosystem.
We will be bringing NFT’s🎴 to our $FRIES🍟 / $KETCHUP🍅 holders through various methods.
Partnership discussions are in the works on the BSC and will be announced when they are official!
✅Chinese Community: https://t.me/FryWorldFinance_CN
✅Portuguese Community: https://t.me/MundoFry