Parrot Incubator, a new burning mechanism for Parrot Defi on Polygon

Where others failed we aim to succeed. As previously deployed on Arbitrum and IoTeX networks, Incubator is coming to Polygon.

‌Burn $pPEGG to get $BPEGG and Stake $BPEGG to earn $pPEGG.

https://polygon.parrotdefi.com/incubator

Confused? We’ll explain it all, keep reading.

‌Parrot Incubator is similar but not the same as Goose Finance Incubator.

Incubator is going live on Polygon Wed 17, Nov 2021

Goose Finance Incubator‌

The guys from Goose, to combat inflation, decided to start layered farming with a feature called Incubator, which consisted of users staking their $EGG and getting a new token (GG1, GG2, GG3, etc). These layers were generated automatically every 7–10 days.‌

The Incubator was an $EGG pool generator with a burning fee. It had a very high multiplier, around 60x (The total multiplier of all pools was 150), and the most prominent point was a burning fee applied to their genesis layer tokens, $EGG. This fee was from 2% to 20%.‌

What’s the difference?

Parrot Incubator is a newly and improved version of Goose Finance’s Incubator, with the main difference being a 100% burning fee instead of goose’s 2% to 20%.

This is huge, and it will fight inflation at epic dimensions.‌

How does it work?

*Allocation points at BPEGG LP Pool will be 30X

At Parrot Defi Incubator, users will be able to swap 2 $pPEGG for 1 $BPEGG. These $pPEGG will be burned, and the $BPEGG can be deposited at Incubator’s pools, where multipliers will be higher than $pPEGG pool. Users can withdraw at any time, and these new tokens are tradable as well.‌

What’s the point?

$pPEGG will burn, which means the token becomes more valuable. Token burning can help to stabilize the value of the token and prevent potential price inflation. Making the token price more stable gives its holders an incentive to hold these tokens and, consequently, to keep token prices even more favorable.