The sleeping giant* of defi has been found
Join now and be set for long term passive income
I’ve basically given up on ROI miners, they are 99% Ponzi, designed with complex tokenomics and sophisticated websites to obfuscate the fact that the high promised yields are not sustainable.
The baked beans and it’s forks, Stablefund, wealthmountain, Opt, pizza tower 1 and 2, furio, AOE and many more. Get in early, play on house money they say, I’m done with sleepless nights.
Now I look for sustainable yields, immutable contract, anti panic dump, anti bank run, anti whale, external source of income. doxxing is a bonus but it’s worth little these days.
Sounds too good to be true? That’s where I found a hidden gem that plays on these principles — FIREFUND. I have $500 dollar staked already and I’m going to add more. Here’s why.
1. Sustainable Apr — 0.5%
They insist on sustainability. 0.5% is comparatively low, but is achievable. The team are made of financial investors and not just crypto enthusiasts or contract Devs. How do I know? Just look at the way they answer the questions, either they know what good investors do, or they are good investors themselves. Monitor their TG for yourselves and make your own judgement. They have an active team.
https://t.me/FireFundFinance
2. They have an external income source
I have already seen 2 injections into the contract TVL. According to their website, they earn through futures, options, commodities trading and other financial instruments. To be honest they can say anything they want, we just need to show money incoming. And they are one of the few that actually do.
3. They got a zero audit score
Wait. What!??
Here’s the official statement from the team :
If you had been following the community conversations, George Stamp only pointed out the specific error in the code after we queried him publicly, and that's after we had received the 0 audit score, quite spitefully delivered.
He also said that we had no prior projects, which lowered the trust score. Newcomers are punished.
We tried to defend sustainability by arguing for Dev withdrawal, but they insisted on having no backdoor (Dev withdrawal), which will make us a Ponzi if we had complied. We resisted, and the answer is V2.
That said, we are proud to share this story, as time will prove the score wrong.
Just thought everyone deserves an explanation.
There, I was in V1, they refunded everything including tax and profits, they weren’t the most popular for the low Apr and the alleged backdoor but to me, they’ve shown nothing but integrity.
4. The contract is very safe
The contract has been community drafted. After v1, the team listened to community suggestions, and put in measures that guarantee the community that the owners are time locked and can remove only 10% a week from the contract for their investments, but investors can withdraw 5% a day at least.
This essentially means if investors smell anything suspicious, they can drain the contract faster than the owners.
5. Ethical investing
This to me is most important. Rugs and ponzis give DEFI a bad name.
Firefune acts on sustainability,
- Apr is sustainable
- Unused referrals don’t go to Dev but remain in contract
- Whales are restricted but not punished , they are allowed partial unstake if their stakes exceed 5% of contract value.
- They only ask for limited approvals from your wallet = stake amount, so that your wallet is safe.
- They don’t shill and cause pumps. It’s a slow and steady growth.
And finally I love their vision, from the words of their team, Silverracoon:
Yeah the plan is to let the fish nibble in slowly now, as the contract grows, the stakers will become dolphins and sharks then whales. And the fish will feel really safe and compound because they underpin the whales. That’s the design of the tokenomics here…….
it means, due to the whale anti-dump tax, whales are a little afraid to enter now with large stakes because they might get stuck in. Hence it allows the smaller fishes to stake smaller amounts, 2-3 figures, increasing the contract value progressively. in that way, whales who want to add 4 or 5 figures will come in later, when the contract value is much larger so as not to form larger than 5% stakes. that way, the investor demgographic is supported by many initial fishes, with whales coming later.
Enough said. I’m not a paid writer, just a member of the community. Join me in one of the better projects if you are interested in the links below.
This is a sleeping giant, and might reinvent ROI projects for the future
Website: https://firefund.finance/
TG: https://t.me/FireFundFinance
- sleeping giant is a term coined by community member @carbonvelo
Disclaimer: I am not a financial advisor. The content for this article is purely for educational/research purposes only and is merely based on my personal opinions.
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