What it does
The objective for Clone Finance is to be a set of tools that reduce the cost of participating in the Defi Neo ecosystem and increase the revenue of the users. Clone Finance will come in addition to already existing platforms such as NeoBurger, Flamingo.finance and the one that will launch soon like HumSwap, Lyrebird etc...
We will publish several smarts contract that will allow user to deposit LP Tokens, The contract will stack them claim the rewards and auto-compound it for the user. This way we can mutualize the chain cost for claiming the reward, do it more frequently and increasing the APY for the user.
Clone Finance will also emit its own token (tbd), the token will be use to reward the users of the platform in different ways : 1- Promote LP stacking on Clone Finance 2-
Challenges we ran into
One of the main challenge will be to give value to the clone token. So user won't just dump it on the project.
What's next for Clone Finance
Nothing is decided yet, We want to adapt on the Neo ecosystem and new dapps. But we have several ideas : 1- Setup a lending and borrowing protocol, so user can single stake their token without impermanent lost and liquidity providers can leverage their LP Tokens for even more LP tokens, allowing for leveraged yield farming and enhanced LP rewards. 2- Launch NFT series to rewards active users and Clone token holder
Inspiration
The inspiration comes from other blockchain that I use Bsc, Ftm, Polygon etc. I want to create on Neo N3 what I like to use on these blockchain. Project that I like : tarot.to on Fantom Opera moonpot.com on Binance Smart Chain
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