Hashbon Farming: Let’s Make a Fabulous Harvest Season!
Dear HASHtronauts and crypto community!
We are back with stunning news and to make you understand the scale of this event, let’s plunge into the history of Hashbon Rocket.
Spoiler — we announce maximum benefits for HASH holders!
In September 2021 we launched Hashbon Rocket, the cross-chain bridge and DeFi ecosystem by Hashbon FiRe facilitating swaps of ETH and BSC blockchain tokens. Month after month, we have been adding new functionalities and creating a user-friendly platform to deliver HASH holders a fast and profitable doorway to the DeFi space.
The fundamental center and fuel of Hashbon Rocket is HASH token. HASH gives new opportunities to grow revenue and have a passive income. There are some ways to get in touch with current Hashbon possibilities:
Right here, right now, Hashbon Rocket is presenting its very own Farming!
It is important for us to evolve with the market and demand and create new beneficial and exciting proposals from the Hashbon Rocket DeFi ecosystem in our fast-evolving crypto world. Everyone who has tokens from LP (liquidity pools) on Hashbon Rocket can take part in Hashbon Farming. Crypto projects are very welcome to add their coins to our project as well.
Why Hashbon Farming?
- APY (Annual Percentage Yield) can go up to 248.29%
- Max APR (Annual Percentage Rate) is 125%
- The reward pool for Hashbon Farming is 15,000,000 HASH tokens.
- There are no upper limits, meaning you can start with 1 HASH and stake as many tokens as you like.
- It is secure and sustainable, all the conditions are fixed in Hashbon’s farming smart contract.
Interesting, isn’t it? Let’s find out more information through our FAQ and start farming!
1What is farming in general?
We love the description that Binance Academy provides: “Yield farming is a way to make more crypto with your crypto.” In more details, farming is the process of accruing tokens as a reward for providing liquidity to a project by placing a certain pair of tokens in a pool.
2. What is the difference between farming and staking on Hashbon Rocket?
Yield farming and crypto staking are the two main ways that cryptocurrency investors use to earn additional profits from their funds. Inside Hashbon Farming, you deal with LP pairs (for example, HASH-BNB), while for Hashbon’s Staking you’ll need to hold HASH alone. However, farming is more profitable than staking.
3. What is the max APR and APY for Hashbon Farming? How to calculate them?
The max APR is 125%, max APY is 248.29%. Here you can convert APR to APY in order to do your calculation in advance. The Hashbon Farming interface reflects current rates when inputting the amount of tokens.
4. What standards of HASH token support farming?
At the moment, BEP-20 HASH is available for Hashbon Farming.
5. How many HASH tokens are dedicated for farming?
The reward pool for Hashbon Farming is 15,000,000 HASH tokens.
6. Are there any limits?
There are no upper limits, meaning you can start with 1 HASH and farm as many tokens as you like.
7. What do I need to participate in Hashbon Farming?
There are 3 steps you need to complete: add liquidity, get LP tokens and deposit them into Hashbon Farming.
8. When do I get the tokens I’ve farmed?
You can harvest these tokens at any time. Please make sure you have enough to cover transaction costs as the network will take a fee for transferring your HASH from the smart contract to your wallet.
9. What are gas and transaction request fees?
There are transaction fees when adding and removing LP tokens. This fee isn’t from Hashbon’s side, but from the side of the Binance Smart Chain as every transaction has a gas fee. Before farming, please make sure you have enough in your wallet to cover transaction costs.
10. Will I be able to use my HASH while farming?
Using your tokens isn’t possible once they’re deposited in Hashbon Farming. You may retrieve your tokens at any point if you wish to do so, however, when they’re in the farming pool, the tokens are locked in LPs until you decide otherwise.
11. How to stop farming and collect received tokens?
Upon clicking “Collect”, you’ll receive your rewards only, your farmed HASH will remain in a farming pool. For terminating the farming operation, you can click on “Remove Tokens” in the same window where you farmed your HASH.
12. Who can participate in Hashbon Farming?
Everyone who has tokens from LPs on Hashbon Rocket can take part in Hashbon Farming, provided that you’re not a resident/citizen of the United States of America. You will have to sign a contract stating that you aren’t and never was a resident/citizen of the USA.
13. Is Hashbon Farming safe and sustainable?
Yes, it is. These are your tokens and they will remain at your disposal. All the conditions are fixed in Hashbon’s farming smart contract.
In general the main risk of farming is a cryptocurrency exchange rate decline, due to which holders can lose part of their profitability and their own funds (therefore, it is better to add a stable coin to the pair, this will reduce income, but also significantly decrease risks).
There is one more risk — criminal organizations who can hack the exchange and steal assets. New platforms sometimes don’t pass comprehensive security audits. Their smart contracts can be vulnerable to cyberattacks. These facts don’t apply to Hashbon, which passed CertiK’s audit and is regularly improving its security.
14. What about the crypto projects and coins intending to join Hashbon Farming?
To add a third-party token to Hashbon Farming, you can send an email to firstname.lastname@example.org or request for it via Hashbon Community.