Initial Farm Offering is a special type of token offering that gives you the ability to farm a new launch token by Farming them in staking pools.
In the first-ever “IFO” session of Castles, each person was able to contribute a MAXIMUM of 1,000,000 DFL-KAI LP tokens. These tokens were burnt at the end of reward distribution. The final allocation received was subject to the total amount staked in the session. The purpose of capping at 1,000,000 LP tokens was to minimize the impact of needing to battle whales, although bots and the creation of multiple wallets on DEX platforms as a trading strategy are inevitable.
Types of pools in Castle
2. Fair Launch
3. IFO - HIGH-RISK & YOUR TOKEN WILL BE BURNT!
Exclusive Pool is the special Pool that offers farmers the ability to farm special tokens (usually famous tokens), such as KUSD-T, KAI, DPET (on Kardiachain), or BNB, CAKE, etc. (on Binance Smart Chain), etc.
You need to stake Dragon token to farm these well-known tokens as rewards. Staking and Unstaking can be done at any time. There will be no burning of tokens and, as such, less risk for stakers.
Fair Launch Pool is a special Pool that offers farmers the ability to farm a new token that offers a Fair Launch approach, to distribute tokens to a broad number of users in a short period of time.
You need to stake Dragon tokens to farm these famous tokens as rewards. Staking and Unstaking can be done at any time. There will be no burning of tokens, and, as such, less risk for Stakers.
Initial Farm Offering (IFO) Pool is the main Pool type in the IFO Launchpad that offers farmers the ability to farm new tokens by staking and burning LP tokens, usually in a short period of time. It is similar to buying tokens in IDO, the difference is that the tokens people use to pay for the IFO will be burned forever.
You need to stake LP tokens and those LP tokens will be burned during the farming period. Stake can be done anytime. There will be no Unstake option, so please make sure that you understand the risk of participating in an IFO Pool.
The burning of LP tokens helps to ensure the sustainability of the Defily ecosystem. Since a portion of LP tokens will be burned forever, this will enhance the Total Liquidity of Defily pairs in the market.
Want to launch your IFOs project?
Launch your project with Defily to bring your token directly to the most active and rapidly growing community. Defily team will do our best to respond to your email within 48 hours.