Subpad by Subme
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Subpad by Subme

Did you miss El Profe$or Farmer AMA? We got you covered!

On 6.10.21 we had a great time talking with El Profe$or Farmer, who is famous for his crypto yield farming expertise and is followed by nearly 20 000 people on Twitter! Here’s a transcript of what we talked about at the Subme Telegram group.

The AMA

Hello El Professor, glad to have you here with us! Our community, — including myself — got a lot of questions for you considering that on Friday we are launching our SUB Farming program. Let’s kick off our AMA!

VikingTurtlee: For how long have you been present in farming and crypto?

El Profe$or Farmer: Well, I’ve got involved in crypto in the mid of 2017. That was the time when crypto farming wasn’t available yet. When it comes to farming… I started my beautiful DeFi journey in 2020. Need to admit that I was a little bit late to the ETH DeFi summer party, but on the other hand, the BSC farming season back at the beginning of this year was one of the most enjoyable times for me which brought me a lot of $$$ as well:)

VikingTurtlee: Can you earn with farming? What do you consider your best farming experience? 2017 — you started early!

El Profe$or Farmer: Of course, you can! Although currently there is a bigger hype for NFTs and gaming protocols, I believe that these hype seasons will keep rotating for some time.

Yes, actually I wanted to get involved in crypto earlier, even in 2016. That was the time I got interested in strange things like darknet, ordering illegal stuff through Internet, but eventually, I decided not to pursue this way. Anyways, that was the first experience for me that made me understand the value of crypto and one of its biggest advantages to Fiat — which is decentralized structure and lack of government control.

VikingTurtlee: Your best farming experience? What was highest APR/APY have you ever witnessed during your career?

El Profe$or Farmer: Best farming experience? Well, that depends on what type of farming one prefers. For me, that is still degen farming, which is pretty risky but gives you a higher ROI and a little more adrenaline. One of the best farms I had a pleasure to join was SaltSwap finance. That was a very degen farm that had introduced a massively inflated rewards system and could simultaneously sustain an attractive price of the token for around 2 days! That was a lot given the APR was around 100 000%!

VikingTurtlee: So it is important to join a farm early and fast because you can gain a bigger APR right?

El Profe$or Farmer: Exactly. Especially in degen farming, this is important to join the party early as well as not to be the last one who turns off the light.

Education panel with El Profe$or

VikingTurtlee: Could you introduce to our community the concept of farming? What’s the difference between Farming and Staking?

El Profe$or Farmer: Well, in general farming is earning yield by providing liquidity. The yield comes from transaction fees. This is something which DeFi provides us with and stands in opposition to the traditional finance and the role of banks and stock exchanges. Apart from earning yields from transaction fees, some of the protocols decide to grant their liquidity providers (farmers) with token rewards.

VikingTurtlee: What’s the APR and what’s the APY?

El Profe$or Farmer: APR — annual percentage rate — it calculates the reward ratio in comparison to your total deposit. This is a standard measure of calculating ROI for a certain period of time.

However, there is also APY — annual percentage yield which apart from calculating your reward ratio, also combines it with reinvesting the rewards and showing the whole number, which when relatively high is completely different than when it comes to APR.

VikingTurtlee: Do you think that the Subme farming program rewards (80 M $SUB, so over 1M USD and 10% of total SUB supply) are competitive to what other crypto projects offer in terms of farming? Our farming program will run for 2 years.

El Profe$or Farmer: I think that the program is quite good as the protocol itself isn’t strictly a farming one. Some of projects have higher incentives, but usually most of them are more typical DeFi protocols, such as yield optimizers, DEXes and so on

Leaving aside my degen nature, I usually decide to farm valuable fundamentally tokens, which I believe can rise in the long term.

Summary

We had a great time talking with El Profesor, and many great questions followed afterward from the community. Thanks for reading, and we hope that you’ll now understand better the concept of farming, and you will join with the new farming program by Subme! There is 80 000 000 SUB to be distributed!

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