Grants: KogeFarm on Harmony

Name of Project

KogeFarm

Proposal overview

KogeFarm is a multi-chain yield aggregator/optimizer that automates reward harvesting and yield compounding across hundreds of farms from dozens of yield farm platforms. It was launched in May 2021 on the Polygon chain and is currently also on MoonRiver and Fantom.

The unique value propositions of KogeFarm are the low fees (1/4th of competitors) and strong focus on security (completely trustless contracts, two audits, and a public lead dev). In particular, our fee structure is the only one that allows users to get more yield from using our service relative to daily manual compounding.

We are looking to bring our yield aggregation services to Harmony. KogeFarm currently has around $28 million in TVL, and has many loyal users who are excited about the Harmony system. After building out our product on Harmony, our go to market strategy includes extensive marketing through all our channels (Telegram, Discord, Reddit, Twitter, YouTube, Medium) as well as integration with the ecosystem through partnerships. We like to go deep into each ecosystem we enter into, which limits the number of chains we serve but also means we serve them well.

Protocol governance is done through Snapshot vote, where anyone with more than 1k KogeCoins can write proposals: https://snapshot.org/#/kogecoin.eth

Proposal ask

$50k, to be used for initial liquidity of KogeCoin on Harmony and development expenses.

Metrics for success

[Month 1: 10M in Harmony TVL.
Month 2: 20M in Harmony TVL.
Month 3: 50M in Harmony TVL.]

External links

Website: kogefarm.io
Docs: https://koge.gitbook.io/kogefarm/
Youtube: https://www.youtube.com/channel/UCxfG3PjuWkqTCVdiUGVU8Vw

5 Likes

very interesting, i’m follower kogefarm since in poly, fantom and now apply for harmony one. beefy closest competitor in multichain yield aggregator. if your proposal is granted, I just want you’re to tighten up on the token selection (you’re obviously understand it better what i mean). and wellcome to Harmony One Family

1 Like

That would be great. Kogefarm.io offers the best auto-compounding feature I’ve seen so far.
Let’s make it happen.

This would be awesome, Kogefarm offers such a good service, and it’s already across multiple chains!

100% for this move. Kogecoin coming to Harmony benefits both parties. Kogecoin already has been audited by 2 sources and I think a big factor for many folks on Harmony is security. We’ve faced numerous rug pulls this year, and knowing that your money will absolutely be safe somewhere is fantastic. I’ve been farming/compounding on Kogecoin on Polygon since the summer and gladly welcome them to Harmony.

3 Likes

1% fee v.s. 4.5% for major competitors. The project is sacrificing its profitability for a shot to democratizing defi for everyone. This grant would play an important role in helping it achieve this and also establish a one of its kind defi aggregator in the harmony ecosystem that really belong to and serve the community.

Hi KogeFarm team,
Congrats on your accomplishments on Polygon, MoonRiver & Fantom. Very exited to hear about it.

Would it be possible for you folks to provide some more insights on to you the way you see the liquidity to Month 1, Month 2 and Month 3 success metrics. You stated the TVL;'s that you folks plan to achieve on Harmony and they look great,. Was curious to learn how you get to those numbers.

You mentioned that you folsk already have $28M in TVL (is that on all the three platform together?). Also, what did you see were the drivers for you folks to get to you existing TVL ? 

This is very exciting , would love to learn more from you folks gave already discovered that worked till now. Perhaps on the Harmony chain some of these attributes would be made more vibrant in some ways for this to do well for you folks and enrich the environment itself.

I love analyzing liquidity drivers and see what works and perhaps help make that bigger and wider where ever possible for many. 

Thank You
-S

The way we grow TVL is to add vaults for DEX’es that other yield aggregators e.g. Beefy does not support - for example Defi Kingdom and ViperSwap, in addition to standard ones like SushiSwap. This is what we mean by serving the chains we’re in well - we support native Defi projects and integrate ourselves more deeply into the ecosystem. We have the most vaults in Polygon and MoonRiver, for example.

The TVL in months 1 and 2 are possible through this kind of differentiation by breadth, in addition to marketing and outreach (lowest fees, highest security). The month 3 target is expected to be reached by partnering with new projects on Harmony and growing with the ecosystem together.

Kogecoin already has been audited by 2 sources and I think a big factor for many folks on Harmony is security. It has the lowest fees compared to all the other Auto Compounders. No Deposit and Withdrawal fees, ONLY 1% fees on Rewards!!! It would be Fantastic news for Harmony projects like DefiKingdoms and ViperSwap.

@kevinf1 Good to see that auditing’s completed with Paladin (need link) and Obelisk. Auto-Compounding is highly desirable. Partnership with Immunifi is also a good signal.

Congratulations on hitting the $20M+ TVL mark.

For the proposal to fit to a Port grant, besides TVL of $20M+, but we would also like to see:

Highly vibrant and engaged communities usually have social metrics of 50K Twitter followers, 10K Discord members, 5000 active wallets, and 1000 Telegram daily online.


Alternatively, I’d suggest we go with a Launch grant based on the guidelines at Apply for Grants or DAO

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 forming a DAO with 5-out-of-9 multisig with our DAOs,
$10K after launching on our mainnet with audit,
$10K after 1K daily active users (with launch video, full PR promotion),
$10K after 10k daily active users (with a detailed roadmap, governance process).

Moreover, we recommend a 5-out-9 multisig account on Gnosis Safe with 3 governors from the project team, 3 governors from the project community, and 3 governors from Harmony DAOs – namely, ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO.

In all cases, we ask for 3-month exclusive campaigns with Harmony before more porting with other chains. We also offer follow-on investments – see 50 Investments ($20M) above; but, at the moment, you must have an outside, lead investor for us to match the funding terms. All codes, development materials and production assets must be fully open, preferrably with MIT or BSD licences; weekly updates must on sent on forum; and, all server deploys or mobile apps must be easily clonable.

Can we agree to the above terms?