CryptoArena to Deploy Yield Farms on August 16th

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CryptoArena is thrilled to announce our Yield Farm Audit Results and Deployment Date

Written by Blake Branson

CryptoArena’s Yield Farms Pass
Security Audit by Coinspect

CryptoArena is thrilled to announce that yet another major milestone has been achieved: in August 2021, CryptoArena engaged Coinspect to perform a source code review of the CATS Farm smart contract.

The objective of the audit was to evaluate the security of the smart contract. You can download the audit report here.

Successfully completing this security audit is a key milestone in releasing our unique staking solution which allows our holders to secure early node rights in NFT Arena, in anticipation of the release of the game itself in a couple months.

“We are eager to release our first major product and prove the worth of our ideas to the broader community.” – said CryptoArena CEO, Lorenzo Ferrari.

“Our staking solution is the connective tissue between the various products of the CryptoArena ecosystem. It will provide immediate utility to the tokens, added liquidity and price support to our pairs, governance rights, as well as layers of rewards to our loyal fans.”

How it works

This is a mostly hands-off staking solution for those who believe in and support our project, featuring great rewards, the highest level of decision-making participation, and the combined benefit of multiple layers of passive income streams.

Basic Terms:

1. Yield farming essentially means lending your tokens for a period of time to receive more tokens as rewards.

2. Lock duration: 6 months. Periods end at the same time for everyone. You can join in at any time, meaning if you stake halfway into an ongoing period your lock duration is 3 months but half of the rewards have been earned already.

3. Harvest rewards anytime. Rewards accrue per block (every ~13 seconds). Farmers can claim them through a simple transaction anytime.

Layered Rewards:

1. Add liquidity to listing to get LP tokens and LP provider rewards.

2. Stake LP tokens to receive a yield per block in CATS.

3. Staking LPs also produces a synthetic token “sCATS” that you can use for governance on our DAO. You must trade this back to the farm to claim back your stake; sCATS are burnt when used to claim real CATS from the farm.

4. Additionally, if you have staked at least 50K CATS worth or more in LPs, you will have enough synths to stake in a secondary smart contract that also gives you a profit share and node rights to NFT Arena.

5. Nodes share NFT Arena rewards equally, are limited to 500 max in number, and are only obtainable through this staking solution. Get yours while you can!

NFT Arena is a trading card game (TCG) developed by the CryptoArena team in collaboration with Whimsy Games that uses NFTs as game assets in which you can win NFTs from your opponents. Revenue streams of NFT Arena generate the rewards for node holders through four revenue streams associated with the game.

Rewards

  1. Rewards per Farm per year: 2M CATS Tokens
  2. Rewards halving schedule: 12 months

About CryptoArena

CryptoArena is building a crypto exchange and regulated securities broker that rewards active users with platform-generated net revenue through a game-like points scoring system. More points = bigger share.

Rewards distributed will start at 25% of net revenue and increase over time all the way to 100% as a consequence of a unique “self-decentralization process.” This process will use smart contracts to automatically distribute rewards and transition their holding entity into fully self-sustained, non-profit, public benefit infrastructure.

Website | Documentation | Twitter | Telegram | Discord | E-mail

We're building the 1st S-DEX (“Self-Decentralizing Exchange”) – a market intermediary using a custom blockchain solution to transition its holding entity into a non-profit over time. Why, you ask? 
To fulfill blockchains' true purpose by redirecting platform generated revenue to our end-Users instead.

Lorenzo Ferrari | CryptoArena CEO Tweet

CryptoArena is building a crypto exchange and regulated securities broker that rewards active users with platform-generated net revenue through a game-like points scoring system. More points = bigger share.

 

Rewards distributed will start at 25% of net revenue and increase over time all the way to 100% as a consequence of a unique “self-decentralization process.” This process will use smart contracts to automatically distribute rewards and transition their holding entity into fully self-sustained, non-profit, public benefit infrastructure.


Website | Documentation | Twitter | Telegram | Discord | E-mail

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Lorenzo Ferrari

Lorenzo Ferrari is the Founder & CEO of CryptoArena.org, a fintech startup aiming to launch the first “Self-Decentralizing Exchange” – a secondary market intermediary using a custom blockchain solution to transition its own holding entity into a fully non-profit Foundation. 

CryptoArena distributes platform-generated revenue to its (active) Users through a game-like, social-competitive, points scoring system. Incrementally, over time, 

all the way to 100%.

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