DeFiFarms Uses the NFT Protocol to Make Yield Farming More Secure and Flexible.

7 min readJul 2, 2021

Decentralized finance, often known as DeFi, is a system that enables users to effortlessly trade tokens, stakes, yield farms, and lend/loan. DeFi users may easily exchange their tokens or get passive revenue on a regular basis. In contrast, the DeFi platform now not only provides DeFi functionality, but it is now integrated with the NFT protocol, allowing users to exchange their NFT tokens.

But what happens if the NFT and DeFi protocols are combined? This is DeFiFarms, the first NFTs protocol Automatic Liquidity Acquisition Yield Farm & AMM that will supply consumers with a reliable DeFi service. DeFiFarms provides the DeFi NFT solution for Yield Farming on the Binance Smart Chain using ERC-721 tokens. This approach adds dynamism to staking and is coupled to a transferrable NFT.

DeFi NFT Protocol :

If you’re familiar with cryptography, you’ve probably heard of the DeFi and NFT protocols. The DeFi protocol, which allows users to conduct different crypto operations simply and securely, and the NFT protocol, which allows the exchange of digital material protected by blockchain technology, are currently extremely popular in the crypto sector. These two protocols are extremely beneficial to bitcoin consumers and add to the appeal of the cryptocurrency industry. Given the development of these two enterprises, DeFiFarms intends to innovate by offering an NFT protocol compatible DeFi platform. DeFiFarms’ Automatic Liquidity Acquisition Yield Farm & AMM technology enables stake tokens to be more flexible and linked to a transferable NFT.

What is DeFiFarms ?

DeFiFarms is a brand-new financial ecosystem that combines DeFi and NFT. DeFiFarms creates a one-of-a-kind yield farming approach based on cutting-edge Blockchain technology. Their protocol offers configurable passive income alternatives via Yield Farming wrapped in NFT, decreasing the danger of Impermanent-Loss and providing a new market that allows for Stake trading via the NFT marketplace. When users want to stake, the Algorithm of their protocol will generate an NFT with a unique ID, which is the key to being able to open staking and unstake options, providing a more secure option without the need for a hot wallet for each different farming pool, and making it more secure with the implementation of NFT. With their proposed NFT Marketplace, their technology also allows for flexibility without significant value disparities, allowing stake trading inside their ecosystem.

The DeFiFarms Protocol is unique in that it is the first Non-Fungible protocol to support Stake trading through NFT. It is built on the ERC-721 Protocol, which is disseminated on the Binance Smart Chain public network, and it provides a safer, quicker, and less costly way of transaction. Users may either sell their unique NFTs for rewards on the market or perform an unstake operation that BURNs their NFTs, allowing for a more flexible approach. Everyone’s stake will be preserved in the Metadata that resides in each On-chain asset, allowing for real-time incentive accumulation and transparency. This also lowers losses caused by market volatility and simplifies the process of switching stakes without the need of Protocol swaps.

DeFiFarms Features :

DeFiFarms is an Automatic Liquidity Acquisition Yield Farm & AMM that makes it easier for consumers to stake tokens. When a user bets their token on DeFiFarms, the system generates an NFT token that encapsulates the bet. This NFT token will eventually be used as the key to access users’ investments. To un-stake their tokens, users may easily burn or sell them to other users on the marketplace. However, DeFiFarms also possesses the following characteristics :

Automated Liquidity: Every transfer made using DEFIY is subject to an 8% tax. Later, 6% of the tax will be paid automatically into the DEFIY-BNB liquidity pool.
Automated Burning: To boost the token’s value, a 2% tax and an 8% transfer tax from each DEFIX transfer will be burnt.
Harvest Lockup is a one-of-a-kind harvest incentive mechanism that limits the frequency of harvesting. This is done to keep bots from gaining access to the platform.
Anti-Whale: To prevent Whales from affecting the DEFIY token price, the system will ban transfers of more over 0.5 percent of the total token supply.
Redistribution of Deposit Fees: DeFiFarms will charge a 5% deposit fee to any user that logs in for the first time. DeFiFarms will later disperse this charge to holders, with just a tiny amount going to the development team.
DEX Trading: a non-custodial trading platform that allows users to easily trade coins.
Merchant Adoption: Increased merchant adoption will aid in the growth of the DeFiFarms ecosystem.
Yield farming: Users may invest their LP tokens in order to receive more token payouts.
Staking : Tokens can be staked by users to obtain daily passive revenue.
DeFiFarms Wallet: A digital wallet designed to facilitate transactions.
DeFiFarms also supports token NFTs, allowing for the exchange and creation of NFTs tokens.

Potential Concept :

Because the DeFiFarms Protocol idea does not exist in the present DeFi market, the marriage of NFT and DeFi creates a new market with more flexible and creative revenue stream choices. Their Smart-Contract has undergone several internal and external audits in order to give a secure Protocol to its users, and they also provide a high APY in order to attract a bigger audience and provide additional benefits to early adopters. Their own protocol is ERC-721 compatible, allowing for a more flexible and scalable NFT system. It is also distributed via Binance Smart Chain, which is one of the best alternatives available right now. They also have Automatic Burning and Liquidity, resulting in a unique Community-Driven DeFi environment.

DEFIY Token :

DEFIY is a native coin of DeFiFarms that will act as a utility and governance token. DEFIY is an 8,000,000 DEFIY Binance BEP-20 token with an initial supply of 8,000,000 DEFIY. DEFIY is primarily used for utility and governance tokens, and users may use these tokens on the platform for a variety of reasons, including staking, lending, and investing, as the value of the DEFIY token rises in tandem with the development of DeFiFarms.

DeFi Growth :

DeFi is without a doubt one of the Blockchain Market breakthroughs that has received a lot of attention in recent years, giving a new banking system that is more transparent and secure, allowing tough traditional banking financial operations to be done using Blockchain Technology. DeFiFarms combines DeFi and NFT into a single ecosystem, resulting in a more transparent and multi-functional banking environment and a more efficient financial system. The DeFi industry is currently worth more than $30 billion, whereas the NFT sector is growing but still in its infancy.

DeFiFarms Roadmap :

For the first time, the DeFiFarms team will start projects and conduct service audits in order to convince users that any code developed by the team is entirely safe. DeFiFarms will then appear in CMC, Coinecko, Dappradar, BSCScan, and other search engines. Then came DeFi Factory Farming and Lottery, as well as other collaborations.
Following that, the DeFiFarms team will launch AMM DEX, deactivate all Cake LP-Farms, add DEFIY-LP Farms, and commence AMM Trading Mining and IFO.
To check the quality of the services provided, the DeFiFarms team will then execute AMM API-Endpoints, AMM Analytics, voting, margin trading, establishing fixed-rate swaps, and binary options.

DeFiFarms Team :

Conclusion :

DeFiFarms is an innovative solution that combines DeFi and NFT into an unified ecosystem. They also designed a multi-functional Native Token and AMM Swap to build a new multi-functional financial Ecosystem. The introduction of the Tax system, which is allocated to the Burn and Liquidity Pool, results in the establishment of a new Community-Driven currency, which is highly promising for their Native Token. This is a very unique and innovative Blockchain initiative, and I highly encourage you to take part in it.