Place/Date: Tortola, BVI - May 7th, 2021 at 7:07 pm UTC · 3 min read
Contact: Gil Shpirman, Source: Don-key
Social farming platform Don-key has announced its Initial Dex Offering (IDO) on SuperStarter launchpad. The IDO will occur on May 11, giving community members an opportunity to acquire DON tokens and claim a stake in the yield farming platform that Don-key is building.
The public sale on the launchpad developed by SuperFarm follows a private round that saw VCs commit $2.2 million to support Don-key’s goal of creating a user-friendly defi platform for yield farming. Black Edge Capital, AU21, and Genesis Block Ventures are among the investment firms who participated.
In addition to purchasing DON tokens via the Don-key IDO on SuperStarter, community members will be able to earn them based on their monthly trading results. Inspired by the “copy trading” format popularized by crypto exchanges, whereby novice traders can mimic the moves made by pros, Don-key will pioneer a similar strategy for yield farming. This will empower platform users to reap the rewards from having top traders work for them.
The complexity associated with yield farming, whereby users stake tokens into defi protocols to earn additional tokens as rewards, makes it daunting for beginners. Don-key aims to democratize the process, giving everyone an equal opportunity to reap the rewards, while incentivizing super farmers to identify the greatest yield generation opportunities for the community. In the process, Don-key users will gain valuable alpha as they learn from the industry’s most successful yield farmers.
The SuperStarter platform provides a safe and transparent framework for fundraising. It enables defi projects to tap into a readymade community and to issue tokens that will be used on Ethereum, Binance Smart Chain, and Polkadot. SuperStarter forms a fully decentralized protocol that allows emerging crypto projects to conduct presales and IDOs in a fully compliant and secure manner.
Yield farming is the craze that took decentralized finance by storm in 2020 and has been reinvigorated in 2021 across an array of smart contract networks and protocols. Over $66 billion is now locked into defi protocols, providing bountiful opportunities for yield generation. Don-key will bring this capability to a global community of cryptocurrency holders, providing a user-friendly way to extract more value while simultaneously boosting defi liquidity.
Full details of the token sale metrics for Don-key’s IDO will be shared soon on the project’s Medium blog and social channels.
Don-key is creating a social farming platform that incentivizes the crypto community to work together for the collective good. Super farmers can identify the best yield generation opportunities for other farmers to copy. The DON token is used to reward participants proportional to their efforts and to align incentives within the Don-key ecosystem.