Passive Crypto Income
I love working on the Polygon network as the gas fees are so incredibly cheap, so whenever there is an opportunity for staking or farming Matic I am always interested in investigating further.
I recently came across The Farmhouse which is a Matic Miner and all the signs point to this being a potentially great opportunity.
///Update: Although the contract on the website sometimes says zero it is just a UI issue. As of August 2022 there is still over 76000 Matic in the contract. You can view the contract at any time here: https://polygonscan.com/address/0x5AB47Dd39264a5D076566FC01A1612a1a982654e
Before going any further let me clarify that this is not financial advice and purely to educate and inform you. Having said that I have already invested in The Farmhouse and am producing Matic rewards every hour. Furthermore this is not a sponsored article and I haven’t received any compensation from the developers for this post.
The Farmhouse is a fork of Baked Beans (I recently wrote about it in more detail in my Baked Beans article). Baked Beans seems to be everyone’s favorite miner, and it has been producing rewards since November 2021, and I am enjoying it too, but I like to diversify and spread my investments around, especially on different chains.
The Farmhouse is growing steadily every day, which is great news for any current, and potential, investors. You can see in their contract that it has 1.59 million dollars worth of Matic at the moment and it continues to grow.
You will need Metamask to deposit your funds into The Farmhouse. If you don’t have a Metamask wallet set up yet, you can read this article of mine to see how to get that done.
Don’t forget to switch to the Polygon Mainnet in your wallet, and then click connect on the page. When you click connect you will be able to see all the stats and contract details.
Then you scroll down to where it says Matic and you type in how much Matic you want to invest, then click on Plant Seeds.
Once you do that to your Matic is going to buy you a number of Farmers proportional to your investment.
Those Farmers then produce Seeds.
Now as your Farmers create seeds you have two choices:
You can either replant the seed which is their way of saying you can compound the interest (rewards) that you have earned. If you decide to replant your seeds they will be converted into your Farmers. Where it says Re-Plant Reward: that shows you how many Farmers your current reward will create. It will need to be at least 1, as you can’t have half a Farmer.
You can Harvest the seeds which means you can withdraw your Matic rewards into your Metamask wallet. Where it says Your Reward that shows you how much Matic you can claim at the moment.
So your ultimate goal is to build up and to increase your number of Farmers; the current farmer prices $0.94 Matic, but that does fluctuate.
You can see at the bottom your daily return is up to 7%. It’s not always guaranteed to be 7%, it will often be between 5% and 7% and the rate depends on how often you are harvesting or replanting. You would usually reap the best rewards by following the guidelines that they give you with these projects and that is to do 6 days of replanting (or compounding) and then on the 7th day you harvest.
Some people are even trying a plan of “29 and 1” which means you replant (compound) for 29 days and then harvest on the 30th day.
One of the biggest advantages of this project is that the dev fee is only 2%! A lot of these types of projects have a dev fee of 8% or 10%, sometimes even up to 15–16%.
This project has also been audited you can read the audit at https://hazecrypto.net/audit/TheFarmHouse and, like Baked Beans, it has also been given a positive stamp. This was the conclusion of the audit:
The THEFARMHOUSE Smart-Contract found no vulnerabilities, no backdoors, and no scam scripts.
The code was tested with compatible compilers and simulated manually reviewed for all commonly known and specific vulnerabilities.
So, THEFARMHOUSE Smart-Contract is safe for use in the Polygon main network.
Go check out The Farmhouse, do your research and, if you want to, come join.
LOOKING FOR OTHER FARMING PLATFORMS ON OTHER NETWORKS?
Read about my best farmer on the Cronos chain here.
My best farmers on Binance Smart chain here.
My best farmers on the Avalanche network here.
FINAL THINGS TO NOTE:
· I’m not a financial advisor. This is not a financial advice, whatever you read in my articles are strictly for educational purposes.
· The Farmhouse is high risk and high reward.
· The contract has an anti-whale mechanism which is standard in all the best miners.
· This article contains affiliate links.
· I only endorse projects that I have personally invested in.
· Remember that you cannot take your initial deposit out; it is equivalent to buying a certificate of deposit, and you lock up your initial investment, but you receive continual rewards every hour.
Most of these projects you can get back your initial investment within six to eight weeks if you follow the system of six days replanting and one-day harvesting.