Let’s Review Goose Finance: a Popular DAPP on Binance Smart Chain BSC
Goose Finance is a decentralized exchange that runs on the Binance Smart Chain (BSC). Goose Finance is a fork of PancakeSwap, which was modeled after SushiSwap and UniSwap on the Ethereum (ETH) network.
According to their website, Goose Finance is trying to “create a perpetual deflation token, the Golden Egg, that allows a constant price pump with a sufficient burn mechanism.” This is a big statement saying they can manufacture a constant price pump, and we recommend you do your research before making any financial investments. By leveraging automated market-making technology (AMM), Goose Finance creates seamless, decentralized, and permissionless token swaps. This, combined with low transaction fees and quick transaction times, makes Goose Finance the Defi app to watch right now.
How Can I Trade Cryptocurrency with Lower GAS Fees?
If you are actively trading in the crypto space right now, you know Ethereum GAS fees are out of control.
Goose Finance is a decentralized exchange on the Binance Smart Chain (BSC) network, and has much lower GAS fees per transaction than the Ethereum (ETH) network. You can save money per transaction by using Goose Finance’s exchange. It also conveniently integrates with MetaMask. Learn how to set up MetaMask by viewing our walkthrough article or watching our video below:
What is Yield Farming?
Simply put, yield farming is staking your cryptocurrency holdings and getting rewards. Yield farming can also be referred to as liquidity mining. With yield farming, there are liquidity providers (LP) that add funds to liquidity pools. In return for providing liquidity, LPs get rewards, which can be paid out in tokens. Some investors take those rewards, or tokens, and reinvest into the pools to earn more rewards. To learn more about Defi and Yield Farming, check out this article from Binance.
What are Farms, Nests, and Layers?
At the time this article was written, there were $94,349,527 staked across all farms, nests, and layers within Goose Finance.
Farms are a way to stake your LP tokens on Goose Finance to earn EGG. Their website offers many different routes for staking, including EGG-BUSD LP, EGG-BNB LP, and TYPH-BUSD LP, which all have 0% deposit fees. Other farm options include BNB-BUSD LP, USDT-BUSD LP, BTCB-BNB LP, etc. which require a 1.5% deposit fees. These deposit fees are used to buyback EGG.
Nests work very similar to Farms, but they require token staking. Using Nests, you can stake tokens to earn EGG. All nests have a 1.5% deposit fee, which is used to buyback EGG. With Nests, you can unstake at any time.
With Egg Houses, you can stake EGG to earn BUSD and new tokens. At the time of this article, there is only one Egg House option.
Finally, you can invest in layered farming. As Goose Finance states on their website, layered farming is highly volatile, please do your research before investing.
Goose Finance has five layers of layered farming (GG1-GG5). Within each layer, you have Incubators (EGG → GG#), Farms (Token →GG#), and Egg Houses (GG# → BUSD). The Total Value Locked (TVL) across all layers at the time of this article is $1,419,747.
EGG’s market cap is currently $27M, with a circulating supply of about 1.6M EGG. EGG is trading at about $17 on Coin Market Cap at the time this article was written. To view what’s coming to Goose Finance next, check out their roadmap.
Audits & Additional Information
Goose Defi has been audited by Hacken and CertiK. In our research, we also found that the domain Goose.Finance is for sale. This is not the official Goose Finance. The official site for Goose Finance can be found here.
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VoskCoin does not provide any financial advice. Please do your own research before making any financial investments. Thank you to Goose Finance for sponsoring this article review.
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