Mushrooms Finance is yet another crypto earning vault with focus on seeking sustainable profit in DeFi universe. The first version of the Mushrooms Finance smart contracts were inspired by other popular DeFi projects like Yearn Finance (YFI) and Sushiswap among many others.
What it does
Mushrooms Finance is now alive in Ethereum, Binance Smart Chain, Fantom and Polygon with thousands of users and tens of auto-compounding earning strategies.
How we built it
Our core team started working in Blockchain/Ethereum/DeFi in the second half of 2018 and worked together for the last three years. We are a small but cohesive team. We have started Mushrooms Finance as a yield aggregator project aiming for sustainable yield mining since Oct 2020.
Accomplishments that we're proud of
We have developed innovative product auto portfolio-rebalancing tool MushMon. MushMon is a Yield-Farming Boosted Portfolio Tool, which innovatively combines the traits of both DeFi yield-aggregator and grid trading algorithms. I would like to introduce MushMon as a resolution to the following four questions that EVERYONE would always be asked about: 1) When should I sell the rip when the market is rocketing? 2) When should I buy the dip when the market is slumping heavily? 3) What if I miss the margin-call when good trade timing is there? 4) How can I make my money work for me all the time?
MushMon will work at your configured risk preference to constantly monitor the market and let the trading bot work for you. It always tries to keep two assets in the portfolio of equal value, i.e., 1:1 valuation for stablecoin and Bitcoin for example. If the price of Bitcoin goes up (triggered by your target increase), the bot will execute “sell” to secure some profit in stablecoin and if the price of Bitcoin goes down (triggered by your target decrease), the bot will execute “buy” to lower the average cost of existing position.
In essence, MushMon could make money out of the fluctuations of the asset’s price and reduce the volatility of expected returns by portfolio diversification.
Additionally, MushMon allows you to earn yield-farming with underlying Mushrooms earning vaults without any idle time for your deposited assets.
We believe MushMon is the first of its kind in the current DeFi landscape across different blockchains which combines yield-farming and portfolio rebalancing in a creative way for the benefit of its users. However, it is of course not a silver-bullet for all scenarios and may incur loss if the market falls deep in one direction without bouncing back (similar to Impermanent Loss in AMM).
Lastly, please bear the risk in mind and use it with care also DYOR before putting a serious amount of crypto assets. More details about MushMon could be found in our blog below.
How do you differentiate yourself from other yield aggregators?
1) The first and most important is around asset safeguard. Security is always priority №1 in our mind. We have conducted three independent security code audits with leading audit partners including PeckShield, Dedaub and Coin Fabrik. And We are among the earliest projects having up to a $50K security bounty program within Immunefi. More details about our security code audits please refer to our Github link below.
2) We have well-designed tokenomics starting day one by applying a buyback-and-make mechanism to provide reasonable incentives to token hodler and every participant in Mushrooms ecosystem.
3) We would like to focus on sustainable yield farming in the long term and innovation is carved into the spirit of core team by continually build and deliver in DeFi. In the last two months, we have upgraded nearly half of our strategies on Ethereum/Fantom/BSC to keep our earning APR competitive in the market.
4) We will continue to build on multi-chains with active support on existing deployments on Ethereum, Binance Smart Chain, Fantom Opera and Polypon(Matic). We are very open-minded and react swiftly to the community feedback and be ready at any time for more integrations with DeFi legos.
What's next for Mushrooms Finance
We will continue to build on multi-chains with active support on existing deployments on Ethereum, Binance Smart Chain, Fantom Opera and Polypon(Matic). We are very open-minded and react swiftly to the community feedback and be ready at any time for more integrations with DeFi legos.