The current trend of the bearish market is taking down many crypto companies. How can you know the ones to trust? How many would survive? These times are the true test of resilience of many of these companies. Fortunately, there's one you can count on.
Welcome back guys. Today we will be discussing FarmX.
Now, what is FarmX?
FarmX is a farming platform on the Pulse Blockchain, PulseChain that was created to incentivize people to add and hold liquidity. You see, FarmX is a decentralized exchange– or DEX for short– that can be compared to Uniswap or PancakeSwap in their massive pumps and big usability.
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So, according to the co-founder and PR of Farm X, Mora Ortiz, the FarmX team decided to do a deeper research and look for a value proposition that is mutually beneficial to FarmX and PulseX. PulseX is the first DEX on the PulseChain. which was developed by Richard Hart, a leading figure in the crypto market with Hex token.
Ortiz, speaking of FarmX, said, "We're not just a farming platform for PulseChain or PulseX, we want to add even more value to our proposition. That's why we decided to design, create and deploy FMX Protocol."
FMX Protocol has been designed with a set of ingenious farming strategies, that come with huge perks like auto-compounding, which is made possible thanks to the virtually non-existent PulseChain gas fees. It also boasts of significantly increasing benefits for those who provide PulseX liquidity on the FarmX platform. We will discuss some of them in this video.
But currently, the FarmX Team is working in order to be able to bring a cross-platform DApp, that can fit everyone, from those who interact with blockchain through web or desktop to also those DeFi users that prefer to keep everything on their phones, whether they use an Android or an iOS device.
The FarmX roadmap focuses on technology development, operations, infrastructure, new partnerships, and marketing initiatives. How far have they come?
From January 2022 to date, FarmX has been able to carefully evaluate different networks before choosing the current game-changer, PulseChain in March. The team designed the native token, FMX, in April and also planned the initial distribution. In May, FarmX landing was released and in June, FarmX started accepting sacrifices for FMX. We will discuss the sacrifices and their awesome multipliers in this video.
From July till September, the multiplier rewards will be gradually reduced until FarmX will be audited by Soken, Solidity Finance, 4ire and Certik.
The PR and co-founder of FarmX, Mora Ortiz, indicates that the earliest sacrifices in FMX will get a full exponents multiplier of four times the amount sacrificed. Wild, isn't it?
You can check out their Medium page for more information on the multiplier rewards. The link will be provided below.
Farm X will continue reinventing itself as it comes up with better ways to serve the public with better returns on investments.
The great perks of FarmX do not end there at all.
The FMX Protocol is unique in its ability to run through several blockchains simultaneously and has the capability to generate rewards, those rewards that the protocol generates are invested in providing liquidity and generate itself arbitrage opportunities through adding and removing liquidity in stable coin pairs so the team can increase and maximize FMX Protocol profitability.
The protocol has been designed and developed with Solidity. It is secured to ERC-20 standard. The architecture allows the platform to offer more project rewards, thanks to the low-cost and highly scalable system.
This makes transactions to be processed in no time. Don't be stuck on other congested blockchains when you could be on PulseChain with FarmX.
FarmX has pledged to fork audited smart contracts on all their platforms, that will be EVM compatible for all networks FarmX accepted like ETH, BSC, Polygon, AVAX, Fantom and of course PulseChain, among others that they will be adding to the list.
When you think that's all, it gets even better.
FarmX launches with Cross-Chain Collateralized Smart Vaults. FarmX will first launch these unique single asset vaults for most shared and important Pools like BTC, ETH, BNB, AVAX, USDT, USDC, DAI and other mainnet tokens that will allow FMX Protocol to obtain and distribute rewards.
Those new Smart Vaults can provide users with the opportunity to earn interest safely without losing their principal investment amount. The loan interest rate model follows the TripleSlopeModel. Any principal amount in these smart vaults that is not used directly for Cross-chain will be managed and invested in several protocols, one example is Venus P.
The Smart Vault will automatically calculate your interest rate and adjust it with its leverage dynamically, for example, if borrowing interest is high, they will deposit it into Venus, otherwise, they borrow again, redeposit, and the cycle goes on.
FarmX Crosschain will officially launch their beta tests soon. These smart vaults will become an integral part in providing liquidity for ETH, BSC, PulseChain, AVAX & Fantom. This is where all FarmX participants will be able to support and enjoy FMX protocol earnings assured through collateralization and prevention mechanisms.
As we've said, the main rewards will be through the native token, FMX, in order to get FMX, FarmX users will need to provide liquidity in PulseX Pairs, FarmX has been initially designed to provide PulseX liquidity through pairs of Pulse Chain tokens.
Those pairs allow FMX Protocol to profit from the FMX liquidity added on the PLSX-PLS pair.
Part of the FMX generated Fees will also be invested on the following FMX pairs.
At FarmX, you would discover that at the top of their values are transparency and innovation.
Obviously, FMX Protocol will not be completely revealed due to other projects that could easily fork their algorithms and steal their patents. They will eventually publicize and share their Smart Contracts as well as the FMX Protocol to fully make sure that PulseChain is public and transparent.
So, how do you receive and enjoy benefits on the FarmX platform?
Short answer is through FMX. FMX is the native token of FarmX.
FMX holders will be able to apply a factor multiplier based on the FMX amount they own. Also stake, farm and earn more FMX.
FMX is the result of market demand to also develop a sustainable blockchain as it was designed by the integration of the best farming contracts from all chains into the FarmX infrastructure in order for FMX Holders to profit from our cross-chain protocol.
FMX is designed in order to fit different purposes, some of which include assigning unique positions to those who get FMX before FarmX launch, distributing Rewards to FMX stakers & holders, compensating Pulse token and PulseX Liquidity Providers and also auto-purchasing itself in order to remove FMX periodically from market circulation so stakers and holders can enjoy the best prices.
Now, how do we get FMX?
In order to get FMX right now, all you need to do is send the accepted tokens to this wallet on display on your screen:
They will automatically track all sacrifices and send back the corresponding FMX tokens.
The FarmX team accepts other crypto coins and tokens for participating in the FMX Sacrifices. They are Ethereum, USDT, USDC, DAI, HEX, MATIC, wrapped BTC and OHM from the ETH blockchain.
On the Binance Smart Chain, they accept BNB, ETH, BTCB, BUSD, USDT, USDC, DAI and of course, CAKE.
As you can see from the list above there is a wide variety of accepted currencies. This is the best way to go since FarmX has to be accessible and available for everyone.
FMX Sacrifice is how FarmX Team has decided to fair launch protocol token, those who support FarmX protocol before mainnet launch will be airdropped FMX tokens.
FMX creates a token economy set by the demand of FMX Sacrifice, phase I will end in around three weeks. Visit the FarmX website for more information on the sacrifice closing date.
You might be wondering…
Why should you participate in FMX Sacrifice?
Well, there are some extra protocol functionalities that will allow initial FMX token holders really interesting and profitable competitive advantages, but we will talk more about that in future videos. For now, everyone that pledges a donation, or sacrifices, will receive a reward bonus multiplier that will reward FMX holders on a higher APY before the others, Ortiz says it would be around eighty or ninety percent.
Enrolling in FarmX and trusting FMX Protocol will give those who sacrifice a unique position on FarmX protocol. As co-founder Ortiz put it, "...apart from getting a full exponents multiplier…all those who sacrifice in FMX will get a unique position for life in FarmX dot app."
As you might have noticed, the FarmX Sacrifice has been designed in order to reward FMX early-adopters. This is a common practice for projects launched on PulseChain Ecosystem.
With this methodology FarmX has the capability to develop, promote and expand the FarmX project, so they can reach all networks and users in order for them to promote the massive adoption of PulseChain and PulseX.
Sacrifice is the easiest and more convenient path for investors to access the FarmX native token before its launch. They are allowing for the scrifices on ETH and BSC networks because of the current market condition.
The team is managing PulseChain Community Listing in order to have more chain visibility.
Take this warning very seriously guys, do not sacrifice directly from an exchange, sacrifice from a wallet that you own, like for example MetaMask, TrustWallet or any other wallet and as we've said, FMX will be airdropped to all those that sacrifice, once FMX Sacrifice finishes and PulseChain Mainnet is deployed.
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