For me when I’m involved in a project, mainly DeFi, I’m always looking forward to the AMA sessions hosted by the teams. It’s great to hear what happened in the last period and of course what we can expect in the upcoming months.
Sometimes the sessions are pretty long and less valuable when parts of a projects are discussed which I am not invested in. But in other occassions listing 1.5 hours to the latest info regarding the project is well spend.
That 100% applies for the Animal Farm and DRIP Ecosystem AMA of Thursday February 2nd. Always have to add: in my opinion. So here it is.
During this specific talk F0r3x_Shark shared so much interesting information. Not only about what is planned to be developed and release the upcoming months. But also what happened in the last period since the launch of Animal until now.
Last week I published the latest updates regarding DRIP specifically as shared in the AMA of January 6th, 2023. New information was shared regarding some of those topics this time as well.
Because there is so much to talk about, I will summarize all topics discussed in this article. You can expect some follow up articles focussing on some specific topics.
Multiple Topics Were Covered
As mentioned a lot of information, updates and announcements were shared. The following topics were covered:
- PigPen Injections automation
- Scratchie
- Dogs Roulette
- Single Asset Lending
- Fiat Onramp
- DRIP
- Upcoming marketing activities
- Telegram DRIP Chat issue
All of those in only 1.5 hours long AMA, and summarized for you below. The AMA which by the way is recorded. It can be found on YouTube. For example here (you can skip the first 17 min)
https://cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.youtube.com%2Fembed%2F1z3y9a4ImSE%3Ffeature%3Doembed&display_name=YouTube&url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3D1z3y9a4ImSE&image=https%3A%2F%2Fi.ytimg.com%2Fvi%2F1z3y9a4ImSE%2Fhqdefault.jpg&key=a19fcc184b9711e1b4764040d3dc5c07&type=text%2Fhtml&schema=youtube
Pig Pen Injections automation
The Pigpen has just undergone full automation, with injections now being managed by a contract. This new process is un-frontrunable and operates in a random and frequent manner.
The same contract also handles the conversion of CAKE to BUSD and the actual injections into the Pigpen.
With this change, there is no longer any central control over injections, making the Animal Farm fully decentralized. All functions are now determined by user activity.
F0r3x_Shark noted that even if he were to be hit by a bus, the Animal Farm would continue to function as intended. With the Animal Farm now in a stable state, the team can focus on developing new products.
New Products Incoming Soon
The team is nearing the end of development on 3–4 products, with another 3–4 in active development. By March, these products will be entering the testing phase.
The past eight months have been focused on completing these projects, although some unexpected tasks, like the StableSwap migration, have temporarily shifted focus.
However, these delays are now behind the team and the fruits of their work will be released in the coming months.
The main development team responsible for launching AF v2, the Scratchies developers, has now fully transitioned to working on Scratchies. Their final task for AF was the automation of injections, which has now been successfully completed.
Status Regarding Scratchie
Scratchies, a new product from the Animal Farm, is in its final stages of development. It has undergone cosmetic changes, thorough testing and auditing by third-party experts.
The functionality of the product is already complete. The innovative concept of NFT earning that decreases over time requires extensive testing and auditing.
Scratchies is designed to act as a partnership funnel for the Animal Farm and must be infinitely scalable. It provides a great reward model for a partnership vault on the AF.
New Name For Dogs Roulette
Dogs Roulette is at the stage of finalizing its UI design. The original concept of a roulette theme was abandoned because it was confusing and not aligned with the objective of the game.
Instead, the team decided to go with a Plinko-inspired UI/theme. The game will not be named Dogs Roulette when it is launched, but that name will be used internally for now.
The game will have multiple options for buying in, including using Dogs and new capital. The credit model allows users to buy credit with BUSD, with a bulk discount.
90% of the BUSD will be used to buy Dogs, making them available for in-game use, while the other 10% will be used for Oracle costs, platform costs, and a small marketing budget.
The Animal Farm has a vision for its games to be integrated into a suite of games that can be utilized by any EVM-compatible DeFi platform. All games will be fair, on-chain, and fully verifiable for fairness.
Dogs Roulette is preparing for a launch in March.
Single Asset Lending
The Animal Farm is expanding its Single Asset Lending initiative to improve results and stay ahead of the competition. Lending will be done to various profitable products for yield, with the yield being swapped for the users’ principle staking token.
Most of the yield will be compounded back into the principle, with the rest going to the DogPound and PigPen. The strong incentive structure of the Animal Farm, which allows native assets to earn BUSD and BNB, sets it apart from other platforms.
The Animal Farm also lends to bridges like Stargate, Celer, and Multichain for higher APYs of 15–25%, compared to the typical 2–5% offered by others.
Single staked assets in the AF pools earn backend lending rewards in the staked token, Dogs, and auto-compound into the principle.
The project has been in development for months and is now in its final stages, expected to be completed in 2–3 weeks with testing before promotion and launch.
Progress Regarding Fiat Onramp
Innovation takes time, but they are making progress. Their new fiat onramp for Dogs, Pigs, and DRIP has been secured.
The previous provider, Guardarian, was approved for basic on and off ramp, but couldn’t provide proper smart contract integration and required full KYC. They have found a new provider that will provide a customized fiat onramp.
They are the first DeFi platform they are providing an on-ramp for, and they already have experience in crypto. The new onramp has no KYC under $2k and full smart contract integration.
They will be a vehicle for non-KYC onboarding, collecting taxes on buys and sells of their native assets, and potentially attracting new users to their ecosystem. They are waiting for the legal opinion on the fiat onramp to integrate it with their dev’s work, which was completed last week.
Marketing Updates and Announcements
The social media accounts have been set up with care to avoid looking like bot accounts. A platform has been created for the marketing team to create social media posts, which will then be posted by the team to maintain control.
The current marketing team is performing well and their progress will determine future collaborations. A new competition is scheduled for next week.
The Animal Farm landing page will receive UI improvements. Two banner ads will be placed on Poocoin and Dextools, with additional ad placements on Dextools.
Interviews with Altcoin Daily and Altcoin Buzz are planned. An influencer with 2.5 million followers on Instagram and a similar number on Twitter will participate in an interview on Twitter Spaces.
Final Words
In addition to all this, there are several other initiatives underway.
One of the most exciting projects that F0r3x is working on is our partnership with the #2 superchat company in the world. They are eager to offer a crypto option and are proud to standardize it for all EVM-compatible chains.
Streamers will have an incentive to accept our native tokens as their superchat payment, as this will result in significantly lower fees, which are 50–90% lower than other platforms. There’s nothing like it in the market!
Another challenge the team is facing is an issue with DRIP chats. Currently, they are restricted and unable to add admins on the DRIP chat only. They are trying to get Telegram to unrestrict them, but if that’s not possible, they may have to start a new DRIP chat.
This would be less than ideal, since over 30k people are currently on the chat. Next week F0r3x plans to tweet to Telegram through Twitter about this and will requests a lot of support by the community for the tweet.
Wrapping Up
I believe I didn’t exacurate when stating a lot of valuable info was covered and shared, did I? Now we will have to see when the next steps will be taken by the team. Only thing we can do is keep promoting the platforms and wait patiently for the new products to be announced and launched.
Credits to Irene
For the content of this article I’ll share the credit with Irene who is taking notes of every AMA regarding DRIP and the Animal Farm. Her notes are publicly shared and can be found here.
References
Websites:
Wiki
Telegram channels:
- Animal Farm: https://t.me/The_Animal_Farm
- DRIP: https://t.me/DRIPtoken_Chat
- Announcement Channel: https://t.me/forexsharkcalls
- Animal Farm: https://twitter.com/animalfarmdefi
- Drip: https://twitter.com/DRIPcommunity
- F0r3x Shark: https://twitter.com/F0r3x_Shark
Disclaimer
DYOR/NFA
Nothing in this article is to be considered as investment advice. The author or the publication cannot be held responsible for any investments, profits or losses you may incur as a result of this information. The article may contain affiliate links. Always DYOR.
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