All compounding and sales done automatically by the algorithm. High daily payout.
This is the new BNB miner that I recently invested in. I have ignored quite a few other miners recently as there were too many red flags, but there are a few things I like about this one:
It is the MilkFarm v2. There was a version 1. V1 had some issues and the devs stopped it and brought out V2; everybody who did not get out there initial investment in V1 was airdropped an amount equivalent to what they didn’t recoup and that allowed them to buy milkers in the new V2 miner.
///update: I just received my first payment from MilkFarm, you can see the details here → https://medium.com/@Red-King/update-on-dinobusd-and-milkfarm-368a038e9ddf
Things like that just make me trust a dev team more and give me more peace of mind when investing. Of course this is still defi and anything can happen, but gestures like that go a long way to building trust.
There is also is an emergency withdrawal function if you want to exit the project. I’ll cover the details later in the article.
Additionally, everything is automated; the compounding and selling is all done for you.
Most of the features have been implemented to prevent whales from quickly draining the contract.
You can check out the MilkFarm here.
This is usually where I start when considering a miner. The contract is looking strong, a recent big push with new investors coming in and the TVL is increasing. At the time of writing this article there is approximately 118 BNB (approximately $28’000) in the contract.
What is the MilkFarm?
MilkFarm is a locked BNB Staking Pool, also referred to as a miner. Investors are able to make returns on their investment up to 15% daily. Daily percentage depends on various factors such as selling habits, the time of day you sell or hire, the TVL pool, the amount of MILKERS you have hired and the price of BNB
How does MilkFarm work?
Much like other miners you first have to hire MILKERS on the website. Then those MILKERS will start minting MILK that you can either sell or use to rehire MILKERS.
MILK price is dynamic and does not have a set price. LOWER TVL means more MILK per BNB, HIGHER TVL means less MILK per BNB.
Unlike other compounding miners all functions such as SELL and REHIRE will be fully automatic.
You can not decide when to sell or rehire your milk, its done automatically by the miner. There is a custom algorithm that takes into account how much BNB people have invested every day and how much BNB has left the TVL because of the auto sells. If there are new investors the miner will sell more frequently, if there is a long period of time without new investors the algorithm will take more days to sell. Also, not all sells are performed at the same time, that would hurt the TVL, the algorithm will sell slowly each day to avoid TVL dumps.
Minimum investment: No minimum, invest however much BNB as you would like.
Tax: 5% on buys and 5% on sells.
Maximum sell: To avoid big investors miner’s from dumping too much of the TVL, there will be a max sell programmed into the algorithm, which will be around 1% of the TVL, the amount that can’t be sold will be used on that miner’s rehire.
There are 3 types of events that boost the amount of MILKERS you receive after hiring.
One time events: Begin on a certain day and last for a defined amount of days.
Example: They could define an opening event with 25% extra MILKERS for the first seven days.
Periodic events: Begin on a certain day, last for a defined amount of days and after a period, will repeat.
Example: They could define a weekend periodic event, only on weekends you receive 30% extra MILKERS.
TVL Milestone Events: Begins after the MilkFarm TVL reaches a certain amount of BNB and lasts for a defined amount of days. When next milestone is reached, the other event begins.
Example: 100% boost when reach 100 BNB on TVL, last for 2 days, 200% boost when reach 200 BNB, last for 4 days, etc… Bonus does not accumulate, only biggest boost % will be applied, for example, if they reach a TVL milestone (200 BNB, 200% boost) on weekend (30% boost) .
Difference between Hiring and Re-Hiring?
Rehiring is just another term for compounding, so when you hire, you hire MILKERS by paying with BNB from your wallet. When you rehire, you use your profits that you have gained from holding and compounding to hire MILKERS. REHIRING is automatic.
This is a feature I haven’t seen on too many miners: if you hire , but then decide you want to get out of the miner at some point and recoup your initial investment without waiting for profits to accumulate, you can press emergency withdrawal and you will get back 75% of the amount you still did not recover.
For example: imagine you invested 5 BNB on the miner and you recovered 1 BNB, you can use the emergency withdrawal button and will get 75% of 4 BNB (5–1), you would get back 3 BNB IMPORTANT: once you use emergency withdrawal your milkers are BURNED, you wont get rewards anymore, use it only if you want to get out of the project, so BE CAREFUL with this button.
Go check out The MilkFarm here.
ADDING BSC TO METAMASK
The first thing you want to do is set up a Metamask wallet (if you haven’t done so already). Just open a Chrome or Brave browser and go to metamask.io and click add Chrome extension.
Then you need to add the Binance Smart Chain to your Metamask Wallet.
Click Ethereum in your wallet, then scroll down to Add Network.
Click that and add the following details:
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
LOOKING FOR OTHER FARMING PLATFORMS ON OTHER NETWORKS?
Read about my best farmer on the Cronos chain here.
Read about my best farmer on the Matic/Polygon chain here.
FOUND THIS HELPFUL?
I hope you found this post to be informative. If you liked the story, please give it a clap and leave a comment below!
Follow me on Medium if you want to read more about cryptocurrency, passive income, play to earn games and yield farming.
FINAL THINGS TO NOTE:
- This is not a financial advice. I am just relating some of my own investments, whatever you read in my articles are strictly for educational purposes.
- This article contains affiliate links.
- You do no get your original investment back, only the returns that your milkers earn.
- I only endorse projects that I have personally invested in.
Disclaimer: I am not sponsored by any of the projects/companies mentioned in this article. This is not financial advice, the information in this article is for educational purposes only. Never invest what you can’t afford to lose. I disclaim any liability or loss incurred by any person who acts on the information, ideas, or strategies discussed in my articles. Do Your Own Research.