Funding DAPP - FarmersOnlyFi $FOX

Name of Project / DAO / Company

FarmersOnly Finance

Application type

Grant

Proposal overview

At FarmersOnly Finance, we have already launched our farm alerting service (Cryptina), multi-chain farm analytics, $FOX Token, Farms, and auto-compounding Vaults. The DApp been live for about 2 weeks, slowly gaining users and exposure. We are at a stage where our technical architecture has been implemented and our focus is shifting on growing our community and gaining credibility in the across the DeFi space. One of our short-term goals is to obtain an audit from a credible auditor, which current pricing is ~$20,000. In addition to analyzing our technical position, we are working to move forward with ways to create exposure; we’ve investigated avenues such as purchasing banner advertising space, rebranding, restyling the front-end, and increasing our social media presence.

Currently there are 2 of us actively building and maintaining the app (on-top of both of our full-time engineering jobs). This can make it difficult to balance these enormous priorities and the solution is more team members. Part of the grant is allocated to finding talented individuals to assist us in community management, marketing, and especially engineering for future roadmap goals.

We are constantly building on top of this app and some of our roadmap items include:

  • Automating the bridging process to make the barrier to entry much lower, thus increasing people’s ability
    to move money onto Harmony chain.
  • Integrating a ‘Zapper’ smart contract to automate process of creating LP coins for earning yield for
    multiple DEXs on Harmony.
  • Creating auto-generated NFT foxes and extending our app and brand to integrate more creative
    pursuits
  • Creating content to explain the DeFi space in order to lower the barrier to entry for Harmony yield
    farming.

Proposal ask

$37000

Metrics for success

  • TVL of vaults
  • Num of unique farms/sites integrated into vaults

Vaults (Live)

  • Number of unique wallets/users interacting with vaults
  • Increasing 15% month over month
  • Vault % of underlying yield farm
  • Vault TVL increasing

Zapper (soon)

  • Number of unique wallets/users interacting with Zapper
  • Increasing 10% biweekly
  • Number of Support LPs
  • Total Assets Zapped
  • Increasing 10% biweekly

External links

Roadmap

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Discord
Twitter

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Well yeah, I think Farmers Only started well and had a little rough edges to polish with the auto-compounding pools but it’s going better.

The audit def will help avoiding such stuff in the future. Hope it will find success and bring more eyes and users into Harmony, introducing auto compounding for popular pairs in general can be a great feature that has proven big on other chains.

Also, killer stickers at FOX’s :wink:

2 Likes

@peechz thanks Samuel, for submitting the proposal. Looks like your proposal has a POC running there looks like a plan to continue pushing forth here (I’ll post my follow up question in a bit)

I’d suggest we switch this to a Launch category, and add some more funds to help with connecting with an auditor. Based on this - Apply for Grants or DAO - We recommend a $50K equity-free contribution:

  • $10K after launching a feature-complete product on our testnet,
  • $10K after mainnet launch,
  • $10K after forming a DAO with its community, and
  • $20K for after 10K users
  1. 500 Launches ($20M). Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each: $10K after launching a feature-complete product on our testnet, $10K after mainnet launch, $10K after forming a DAO with its community, and $20K for after 10K users.
3 Likes

These are really powerful propositions, I’d like to bring this up front and center on what you just said here!

Some questions:

  • Do you have plans on launching the FOX token and increasing TVL?
  • Have you figured out the tokenomics yet?
  • Audit was next on the list, but you called it out, do you have a contact?
  • How does your DApp stand out vs. any other Pancake-fork UX-wise?

I’d propose increasing your ask to $50K help improve the UX and figure out a product-market fit. Also, audit’s are not only priced around $20K-$25K, but they’re busy 4-6 weeks out at best. We can fund this too if needed.

4 Likes

Hey thank you for the reply! I’ll try and answer your questions.

Do you have plans on launching the FOX token and increasing TVL?
Have you figured out the tokenomics yet?

Our FOX token is launched and is the reward token for our yield farm and the owner is the masterchef contract. The tokenomics are as follows:

  • Emissions: 0.05 FOX / block
  • Max Supply: None right now, although this can be up for debate after our DAO is setup
  • Deflationary mechanisms: This is built into the vault framework. We have 1 burn vault that uses 100% of it’s rewards to buy+burn FOX. And the TVL of this vault is generated from the fees of the other vaults. This ties the value of FOX directly to the success and TVL of our vaults.

We are working on a contract similar to ViperSwap’s GovernanceVote. This will correctly allocate the FOX tokens in our vaults and masterchef contracts which will enable us to setup our DAO.

How does your DApp stand out vs. any other Pancake-fork UX-wise?

Currently, it doesn’t but we do have plans to make it much better. We are creating zapper to make it easier to get in and out of our vaults. We also want a dashboard page to show users how much of each coin they have in our vaults/farm based on the underlying LPs. And we want to be able to show users how much profit they’ve made using our vaults for auto-compounding. This funding will REALLY help with this.

Audit was next on the list, but you called it out, do you have a contact?

We got quotes from Paladin and Certik a few weeks ago. I have just reached back out to get updated quotes and timelines. I will keep you updated.

Also, audit’s are not only priced around $20K-$25K, but they’re busy 4-6 weeks out at best. We can fund this too if needed.

This would be amazing! Thank you!

3 Likes

Approved for Launches category at $50K. Congrats! We’ll be in touch

4 Likes

Some updates on the vault roll-outs for September and start of Oct:

Sep 12: Launched farming on mainnet
Set 17: Launched first vaults including 1 Burn vault, 2 SushiSwap vaults, and 1 Viperswap vault
Sep 19: Launched 5 more native vaults
Sep 20: Launched single staking FOX vault
Sep 21: Launched 3 more vaults for Fuzz.fi
Sep 24: Launched 3 more vaults for PiggyBank
Oct 8: Launched 3 more vaults for Artemis
Oct 9: Launched 2 more native vaults
Oct 11: Launched 5 more vaults for Artemis

Milestones achieved for Funding:

  • Testnet Launch
  • Mainnet Launch

the first 2 milestones: $10K testnet + $10k mainnet have been funded: Harmony Blockchain Explorer

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