Squirrel Finance — a new ecosystem on BinanceSmartChain that extends the power of simple and secure DeFi. This flagship and unique product is provided by insured farms.
Contents:
Description of the Squirrel Finance
The Squirrel Finance platform was launched in 2020 with the rise of DeFi farming. The problem was that some of these agricultural pilot projects could leave farmers unprotected if something went wrong. Due to the crazy percentage per annum, many users ignore the possible risks completely completely.
However, the NUTS tokenomics were not ethically appropriate for the current landscape, beyond coverage, it offered little incentive to use Insure, so adoption was difficult to achieve. This is why a new tokenomics model was developed.
Some features:
| 1 | To start implementing the platform, it has launched it as a farm token. |
| 2 | To drive growth further, the developers decided to instead launch version 2 on BSC due to the rise in the number of single-asset farms. |
| 3 | NUTS started with an initial supply of 400k, migrated from v1 tokens to eth and is slowly growing as NUTS is rewarded by farmers in pools. In addition, NUTS is added as collateral for outside farms (such as CAKE) as insurance coverage for farmers. |
Insure — Squirrel's flagship product and it is going to be the evolution of Yield Farming. This product will allow farmers to join eligible DeFi projects confidently, knowing that their assets will be reliably protected in the event of adverse events such as problems with smart contracts. Farmers will automatically receive a NUTS payment if the farm does not return their deposit. In return, insured farmers pay 20% of their yield to the NUTS rate pool.
Additional information
At the moment, White Paper and RoadMap are not available on the site. Instead, there is an introductory article on the Medium blog.
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The smart contract doesn't have an audit.