DAO Farmer: A review of the past, present, and future.
I. DAO Farmer Milestones
2021 September — Foundation and Selection of the Team Members.
2021 October — Developed In-Game Economics and Game Model was Confirmed.
2021 November — The game website (www.daofarmer.com) was officially launched.
2021 December — The Website launched the Resource section, many Youtubers uploaded an in-depth video analysis.
2022 January — DAO Farmer formally opened the IGO whitelist campaign with more than 6,000 participating users.
2022 January — DAO Farmer conducted its IGO at Galaxy and co-hosted an online AMA. Project Galaxy is credited with plug-and-play NFT modules and invested by well-known institutions such as Multicoin Capital, and Binance Labs.
2022 January — Created an NFT collection at Element and opens trading. Element Market is a multi-chain NFT trading platform.
2022 February — Smart Contract audit by CertiK. CertiK is a pioneer in blockchain security, utilizing best-in-class Formal Verification.
2022, February 22nd — DAO Farmer was officially LAUNCHED (Newborn Phase V1).
2022, March 5th — Certik finished the preliminary audit with the Result: No Critical Vulnerability. Now, we will work on optimizing the contract code based on the preliminary results!
2022, March 6th — DAO Farmer established the DAO Farmer Eco-Development Fund， It will be used for Game promotions, Event rewards, and Other actions that benefit DAO Farmer and the community
II. About Launching so far
DAO Farmer is a Play-to-Earn Metaverse GameFi that combines blockchain technology with traditional gaming connotations. DAO Farmer is divided into three phases: Newborn, Rising, and Arrival.
In the Newborn phase(Launching), DAO Farmer is designed as a Play-to-Earn farm simulation game where players can complete the game process with simple actions to earn great rewards.
In the Rising phase(Developing), players are no longer limited to their farms but will compete with all players across the continent. In this stage, players need to have enough time to upgrade and operate their farms and expand them into their city-state.
In the Arrival phase(Long-term plan), players will no longer use the mouse and keyboard to play the game but can use VR and physical devices for an immersive gaming experience.
DAO Farmer officially launched the Newborn phase V1 version on February 22, 2022, opening the first DAO+GameFi farming metaverse game on the Binance Smart Chain. All funds from the IGO sale are pumped into the DAO vault and added into the Liquidity pool of in-game tokens.
In just 3 weeks from our launch, more than 500 NFT tools have been minted in the game, and the total value of the game vault has exceeded $1.4 million. In today’s relatively unheated GameFi circuit, DAOFarmer’s numbers and data are not an easy feat to achieve.
III. Introduction to the core mechanism
DAO Farmer’s numbers shown above are not an easy feat, but it is made possible when we launched the two core mechanisms of the game: Protocol Owned Liquidity (POL) and Property as a Service (PaaS)
In January 2022, approximately 260,000 BUSD from the blind box sale on the Galaxy platform became the first funds in the DAO vault and the majority of the funds were used to create liquidity for the three tokens under the POL mechanism. Later, upon a community proposal, DAO Farmer locked in the initial liquidity of the three tokens for three years, and the value of the locked liquidity is currently estimated at 650,000 BUSD. The full amount of funds in the DAO vault will serve the project in the future. These two mechanisms are being used to add liquidity, maintain the coin price, and other development costs of the game.
To prevent the token price from rapidly rising due to the influx of a large number of players in the early market with weak liquidity, DAO Farmer adopts the PaaS mechanism, where early incoming funds flow into the DAO vault through PaaS instead of going directly into the secondary market, maintaining the relative stability of the coin price and promoting the long-term healthy development of the game.
Considering the risk of on-chain flash loan attacks, instead of simply capturing the real-time price of tokens on Pancakeswap, PaaS captures the weighted result of the moving average price over time and the real-time price as the index price and multiplies it by the number of tokens required for NFT tools to calculate the current selling price of NFT tools, currently with an additional 5% discount and benefits.
Based on the pricing model of PaaS above, we can see that when the token price rises, the PaaS price is lower than the estimated total price of forged materials using the in-game currencies/tokens, and considering the fee and slippage factor of purchasing tokens, the price advantage of PaaS will be more prominent. In this case, players will prioritize buying NFT props from PaaS to get a more favorable price. At this time, the demand for tokens in the market will weaken, which can effectively suppress the sharp rise of the coin price.
When the token price falls, the PaaS price is likely to be higher than the synthesis price, then players will buy material tokens directly from the secondary market to synthesize NFT tools, at this time the market demand for tokens will increase, which can effectively promote the token price to pull up.
The funds are heavily deposited in the DAO vault, and 50% of the platform’s farm tax revenue will also flow into the DAO vault through the protocol. The DAO vault will enable the addition of liquidity and the long-term maintenance of the coin price through POL.
The steady operation of the POL and PaaS modules under the DAO model has built a mature and rigorous decentralized financial system for DAO Farmer, and strong support for the long-term development of the game.
To summarize, the operating principle of DAO Vault is similar to OHM’s Bond module, through the macro regulation of POL and PaaS contract, to achieve a steady increase of token price and protect the rights and interests of players entering the game in all time periods.
IV. Recent Development Plan
DAO Farmer will gradually grow the project in the future around two main lines: new user growth and product iteration. At the same time, we are a supporter of the DAO concept and hope to build a truly decentralized autonomous organization on DAO Farmer. Players are important participants in the future development of the game, and we hope that more people will join us. We also hope to receive suggestions from the community, and we are open to any ideas you may have.
On March 6, 2022, DAO Farmer established a $150,000 early-stage eco-fund at the initiative of the community. The fund will be used entirely for the project’s brand marketing, as well as the expansion of new users. We will then start mutually beneficial cooperation with many industry KOLs and organizations so that more players will pay attention to DAO Farmer and join the DAO Farmer ecosystem.
Here, we reveal early plans for the near-term product iteration. In mid-March 2022, DAO Farmer will add a new feature module: AutoFarm and mini NFT tools. AutoFarm will be considered friendly to new users so that they can join the game more easily. At the same time, AutoFarm will introduce a new mechanism that will better enable the spread of the project and give the project’s backers more ways to earn. After the automation farm is launched, DAO Farmer will have more game strategy combinations and game participation methods to further enhance the playability of the game, let’s look forward to it together!
In mid to late April 2022, DAO Farmer plans to go live with the token reactor feature (DAO Reactor), which will be the most anticipated feature of DAO Farmer.
The DAO Reactor shadows the economic model of the OHM Olympus DAO and related mechanisms, which will build a Game+DeFi+DAO trinity product environment, defining a new paradigm for GameFi.
After the token reactor feature (DAO Reactor) launches, DAO Farmer may spawn a new ecosystem role: the DAO Fund.
On the contrary, with a large number of 3A GameFi projects coming online in mid-2022, the GameFi track is bound to explode again in 2022.
Meanwhile, there is no successful OHM model in the BSC ecosystem. Based on this, DAO Farmer is expected to be the first “OHM” inspired GameFi model in the BSC ecosystem.
V. Beginnings and Vision
DAO Farmer’s initial goal is to integrate DAO into the GameFi space and build a relatively fair gaming scene with a rigorous DAO financial system. We value community input and believe strongly that the community is an important part of the project, now and in the future.
Since the birth of Bitcoin in 2009, the blockchain industry has witnessed many drastic changes in the past 13 years, including technical level, cognitive level, policy level, and so on. At the same time, we found that this dramatic change cycle is gradually shortening, and the blockchain industry will enter a high-speed development stage. During this period, the only constant in the industry is changing, and for DAO Farmer, the only constant is the original intention.
Amidst the backdrop of the industry’s rapid development, DAO Farmer will also see robust and efficient product iterations. Thinking about the future, what is DAO Farmer likely to evolve into.
Strategy-based GameFi platform?
GameDAO Smart Fund?
Algorithmic game Stable Coin?
The final shape of the DAO Farmer will be decided by you and me.
VI. Contact Us
Telegram group: https://t.me/daofarmer_com
Telegram ann: https://t.me/daofarmer_ann
Foreword: Currently the average DAOFarmer NFT tool ROI is about 20 days, we hope this tutorial can help you.
1. Enter the game (both PC and mobile)
Open the official website of DAOFarmer (https://daofarmer.com/) and enter the game from the top right corner of the website “Play Game”.
2. Connect your Wallet (BSC Chain)
Enter the game interface, display the “ connect wallet” prompt. Click the “ Connect Wallet” button in the upper right corner and then approve the connection with your Metamask wallet.
3. Get the NFT tool
After connecting the wallet, the balance of three kinds of tokens in the wallet will be read automatically at the top of the game, these represent meat resources DFM, wood resources DFW, and gold resources DFG. The lightning icon represents the energy value, which is now 0.
There are three mining pools in the home screen, which represent hunting, logging and mining respectively, corresponding to the meat resources, wood resources and gold resources that can be mined.
Click on the corresponding mining pool, 3 card slots appear, each card slot can have NFT tools. In other words, for a single account, each pool allows up to 3 NFT tools to be mined at the same time.
Click “+”, new players will be prompted that there is no NFT tool, and the “ Forge “ and “ Buy “ buttons will appear. Click the “ Forge “ button to jump to the “ Smithy “ interface. Click “Buy” to jump to the “PaaS” interface to buy. Whether you cast or buy from PaaS, the platform will give you the amount of energy needed to make the NFT tool work once. However, if you buy the NFT tool from PaaS interface, you can enjoy a 5% discount and get 1 to 5 DAOF tokens as a bonus. Therefore, it is recommended that new players go to the PaaS interface to purchase NFT props.
In the PaaS interface, you can see the price of each NFT tool, the remaining quantity and the number of bonus DAOF. NFT tools in PaaS are available for purchase using BUSD with a 5% discount and are available on a first-come, first-served basis.
When the PaaS NFT tool is sold out, players can choose to go to the “Smithy” interface and spend DFW and DFG to synthesize NFT tools. Players who are synthesizing for the first time will need to approve both tokens separately.
After purchasing the NFT tool we can come to the appropriate mining pool for mining, select a slot to place the NFT into, select the NFT tool, and then click “ confirm “.
After placing the NFT, the NFT will appear on the card slot, but at this time, is not yet mining. You have to click on the “Approve” button first, and then click on “Use”.
After completing the operation, a pop-up window will show the revenue gained from this mining, and the resources mined will also appear in the balance display above, and the mining will be completed. At this point, the energy value above will also show the deduction.
5. Repair tools
After completing a mining session, the NFT tool will enter a cooldown time, and the NFT can only be removed from the slot after completing the cooldown time. Click the “Repair” button, you need to spend gold to repair and restore the durability of the NFT tool. The durability will be repaired successfully after successful confirmation.
6. Restore energy
An exception to meat tools, wood and gold NFT tools requires energy consumption to mine. Click on the “+” next to the energy value, the interface of using meat resources to restore energy value will appear. If you are using meat resources for the first time, you need to “Approve “, enter the energy value to be restored, and then click “Use” to confirm the restoration of energy value.
When you click finish, you can see the energy value above will be restored according to the consumed meat resources.
7. Increase revenue
The DAO interface first shows real-time data from the DAO vault, which is the core of the DAOFarmer financial system, supporting the healthy cycle of the DAOFarmer economy and ensuring long-term stable returns for farmers.
The DAO interface also includes “Farm Tycoon”, a functional module to improve mining efficiency. There are three types of pools, choosing the corresponding pool to stake 50 DAOF can increase the mining efficiency of the corresponding pool by 6%.
8. Sell NFT
Select the NFT tool you want to sell in the “Warehouse” and click “Sell” to go to the Element platform and place an order to sell the NFT tool.