Discovering The Lost World
Farms on BSC
The issue with most farms stems from a few things:
- Token Utility: A lot of farms, including Jurassic Farm, create tokens that have the limited utility of just farming
- Supply: It is commonplace for farms to have never ending supplies. As many of our community members have pointed out, this is a big issue because it brings with it constant and never ending sell pressure.
- Boring Copies: Every farm nowadays is a copy of another. That is why with Jurassic Farm, we strived to take the time to create a new model
- Short Life: This is related to emissions. A farm can only last until it’s APY dies
Now that you know the facts, let us introduce you to why we think The Lost World will be different…
Evolving From DINOv1 to DINOv2
When creating a new version or an update to a farm, it is imperative that the original token keeps or gains value.
As mentioned, we will end emissions on the Jurassic Farm and cease emissions of DINO v1.
After ending emissions, we will conduct a snapshot (check the wallets of all holders) to determine how many DINO tokens each wallet holds. This will be planned to occur between Sunday and Monday but may get delayed. If delayed, we will clearly communicate.
Only 10,000 DINO v2 tokens will ever be minted. Holders of DINOv1 will receive DINOv2 according to their ownership of DINOv1. For example, if a user owns 5% of DINO v1 then they will own 5% of DINOv2 or 500 tokens.
DINOv2 Utility and the Vault
The Lost World will introduce a new concept to the Jurassic Farm ecosystem called the Vault.
Users will stake DINOv2/Raptor (explained later) in the vault to receive a share of the total BUSD in the Vault. The vault will be distributed over a 4 week period and users will receive BUSD based on both the amount and time staked in the vault. This will prevent moving in and out of the vault and ensure the DINOv2 retains its value. At the end of the 4 week period, 90% of the vault will be distributed. 10% will remain for the next month to seed liquidity for the upcoming park (explained later).
As there are only 10,000 DINO tokens ever created, it will be simple for someone to determine the USD value of the DINO/Raptor pair. For example, if there is 150,000 BUSD in the Vault, one could assume that the price of the pair should be $15.
Raptor and the New Concepts of the Lost World
In addition to DINOv2, The Lost World will introduce a new token called Raptor.
Similar to Jurassic Farms model and the model of farms before it, The Lost World will contain two LP pools (Raptor/BUSD & Raptor/BNB). It will also include a variety of other token pools, both in the form of token pairs (BUSD/USDT for example) and single tokens (Raptor, BNB, etc.).
There will be a 1% fee charged to the LP pairs and 4% fee charged for all other pools. 100% of the LP fee will go the vault while 75% of the stable farm fee will go toward funding the Vault and 25% will be given back to the development team. As a simple example, if the Lost World has 5M TVL in the stable farms, that will result in 150K USD to the Vaults and shared between stakers.
To keep things fresh, we will rotate out farms weekly. Meaning at the end of every week we will cease emissions on existing stable farms and move them to inactive. We will then introduce new farms as voted on by the community and at the team’s direction. We will seek to work with other upcoming projects to showcase their token in The Lost World.
Rotating Farms ensures that we build up the value of the Vault, benefiting the ecosystem as a whole. Participants in the stable farms will also benefit from a burst of high APY as TVL grows. This process will allow us to partner with other farms and easily showcase their token in exchange for them showcasing ours.
A Repeatable Model
Goose has addressed the issue of decreasing APY by building farms within farms. They have encountered issues by having too many tokens and not being able to stall the loss of APY.
The beauty of this model is that it is repeatable. We will have an initial emission schedule of 20K tokens/day.
Our plan is to release a new Jurassic Park each month, resetting the ecosystem. We will retain 10% of the vault to fund liquidity for the new token.
At the end of the month, our DINOv2 token will be exchangeable for NFTs through our incubators (explained later). We will discontinue farming on our Raptor token and perform the same snapshot we performed on DINOv1, converting it into a 10K supply token used for our vaults. Then we will introduce a new token used for the farm.
We believe it is key that we have a repeatable monthly process to keep the interest of the BSC community as well as maintain APYs and fund the vault continually.
NFTs in The Lost World and the Ecosystem
We will begin by saying that we do plan to add NFTs to the ecosystem but that it is not our expertise. We are in contact with a few NFT artists that we plan to enlist the help of. We should be able to provide a better timeline for this in the future but at this time we do not have a good timeline for when we can deliver our NFTs. We would love to work with the community to build something here. With this said, here is our NFT vision -
Users will stake DINOv1/Raptor in incubators for a 2 week period to hatch a DINO egg. Users may choose to pay BUSD (sent to Vault) to speed up the hatching of their egg. The egg will grow into a baby dinosaur NFT. These NFTs will vary in rarity and traits. Our current goal is to have the more common NFTs provide abilities, such as auto compounding. We will also open specific farms with increased APY for the different dinosaur communities based on the type of NFT received.
Each month, we will introduce a new group of NFTs for our Dinosaurs. Users will have the option to burn the farm token for the month to access earlier months NFTs in hopes of getting a rare NFT. We will hold a community voted contest for NFT artists.
We will create a COLLAB group for our NFT holders where they will receive ranks/levels based on the type/amount of NFTs they hold (ie. Dinosaur Wrangler).
Lastly, the first 10 users to own one of every type of our NFTs, will receive an ultra rare NFT that will award them with 0.5% of the dev team emissions in perpetuity. This means that they would receive 0.5% of the 10% share of emissions sent to the dev team.