Copy-Farming Using Donkey Finance

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A 🧵 about copy-farming using @Don_key_finance 👇 [1/16]

The @Don_key_finance team reached out to me last week to share what they had been working on. I found it really cool, so I thought I'd write about it. Not sponsored or anything - just an interesting new concept I wanted to share.

Do you find the process of yield farming to be tedious? Don't have the time? Frustrated that you can't seem to do as well as your favorite crypto influencers? Wondering if their strategies actually work as well as they claim? You're not the only one..

@Don_key_finance is solving this problem through what they call "copy farming". It's exactly what it sounds like: Social trading + yield farming.

• Farmer defines a yield farming strategy. • User can go and "copy farm" the strategy in one click. • Farmer gets a commission. • Full transparency into performance of strategy

The farmer describes the following when setting up a strategy using the strategy builder on @Don_key_finance: • All the steps involved • APY of the strategy • What % of rewards they will get (farmer's commission) • Risk rating • Diagram & description

A few more key points: • There will be a minimum TVL threshold required for a farming strategy to be deployed. (example: $50,000). • The farmer will have 48 hours to get that TVL into their strategy. • Farmer needs to pay some amount of $DON tokens to deploy a farm.

Why I think this model is pretty cool: • Transparency: You get to see how well a farmer's strategies have actually performed historically and how much every investor has made since they deposited.

• Yield farming is not easy currently. This makes yield farming a lot easier, especially for inexperienced users. Note: You must still DYOR! But if I can get in on a complicated strategy like this without having to do all the steps myself - that sounds great...

Another example: This is a farming strategy by @vfat0. Imagine doing this manually.. 🤯

• @Don_key_finance can also save gas fees by batching the deposits from multiple investors together. • Deposits are allowed from Polygon, BSC, Avalanche, and Fantom, but a strategy can operate on other chains as well.

So I think it's pretty cool as long as you DYOR, and trust the farmer and their strategy. I'll consider setting up some strategies here in the future though won't be doing any right now (focusing on other things at the moment). Leave a ❤️ or comment if you want me to though.

Q. What if a strategy is no longer a good place to farm after a few weeks? • The farmer can close out the strategy. • Users positions are also closed out and converted back to the token used to deposit.

@Don_key_finance is launching their v2 platform soon as well. You can read more about it here: twitter.com/Don_key_finance/status/1514549514245480455?s=20

What do you think of this idea?

I try to make DeFi and yield farming more digestible by writing 🧵s. See my past threads and follow for more.. twitter.com/shivsakhuja/status/1470898910218440708?s=20