MrDG Decentralized Finance Protocol: Farms, DAO, Loans, Exchange and More..
The MrDG Team is excited to announce the launch of a new protocol: MrDG Decentralized Finance Protocol, which would allow users to use and receive a brand new MrDG Token on Binance Smart Chain, older users for the ecosystem will be able claim the new MrDG tokens based on their older balances, the claim process along with all the farms for MrDG will be decentralized and would exist on the Binance Smart Chain which allows users to do transactions faster than most EVM based chains with very less fees.
All MrDG tokens will be priced at $1 throughout the initial phase of the project to allow a stable utility of the token.
There will be multiple Farms in the project at launch more will be added as the project grows, the Farms will allow users to Stake their MrDG, AYA. AFRA and BUSD tokens to receive rewards and profits over time. To keep the process streamlined for all the farms and all the users, users will be able to claim the profits from the farms every 15 days. Based on the multiple farms users will be able to stake combinations of the MrDG, AYA, AFRA and BUSD tokens and receive these tokens as rewards as well every 15 days.
The loan farms will allow users to take BUSD loans against their AYA tokens, initially there will be limits and duration of each loan to allow all users to receive loans based on their VIP levels. Along with this all farms will also contain a referral program to allow old and new users to grow their profits along with the platform.
The VIP program will allow users to deeply interact and participate in the new platform and return higher returns and also allow higher and larger duration loans to users from the loan farms.
The platform will also provide DAO voting rights to each and every user holding MrDG tokens, which will be later used for voting on different new farms and other decisions for the platform going forward.
For security and transparency whole process will run over Smart contracts on the Binance Smart Chain which allows us to keep the contract codes public (the contract code will be made public after auditing process by 3rd parties to make sure the funds stored in the contract are secure). This approach also allows users to track each and every movement of funds from the contracts and this also increases trust between the Team operating the platform and the users. This process ensures that the team cannot do any actions agains the community.
The platform will start with claim process for the older users, where users will be able to claim MrDG tokens based on their older balances. This allows old users the first access to the platform, the process to claim the funds would be simple, which would include logging into the platform with their email and email invite code and pay the new platform’s joining fees (in AYA) and then the users will be able to instantly be able to claim their MrDG balance, the claim and fee process will also be on the contract itself, the invite code would allow only the old users to claim the MrDG tokens thus keeping this process as transparent as well. Users will need wallet like Trust Wallet/Metamask to interact with the contracts and use the platform.
The platform will then show the users all the available farms which again exist on the blockchain only thus allowing users to directly interact with them without the platform as well if the users want. Initially around 6 to 8 farms will be available for the users to stake their MrDG/AYA/AFRA/BUSD into . this allows farms for each user to use thus users can stake and receive rewards according to what they want to stake and what they want to receive. There would be no restrictions on the total amount of the assets the users want to stake to make sure the platform grows quickly and while also allowing users with small amount of balances to participate as well. This allows users to choose the best farm based on market conditions and their preferences. This process again will be completely on the blockchain , each user can check their staking, balances being reflected instantly on the blockchain. Also allows users to track the total staked and total rewards paid on the blockchain as well.
Another loan section will be available for the users to view active loans , and purchase and sell loans at different interest rates, the currency staked for the loans would be the AYA tokens and users will receive BUSD against their AYA tokens, initially loan terms for a particular loan will be fixed thus the time and amount cannot be changed between loans. If the user does not pay the appropiate amount of BUSD at the end of their loan period they will loose all their AYA they used to take out the loan. The loan amounts , durations would be based on the user’s VIP levels and the amount of farms they are staked in. This allows for the users actually participating in growing the platform to actually get better and bigger loans. Thus allows the platform to grow and the loans to grow along with it.
The VIP program would be a monthly subscription which will also be completely manageable on the blockchain which again allows users to track everything on the blockchain and interact without even using the platform directly. To make the VIP program special and exclusive there will be some VIP only farms and features which make the VIP’s membership exclusive , VIP’s will also receive faster access to upcoming features and new farms to gain some extra profit.
The platform will also contain an internal exchange only accessible by the members of the protocol which would allow users to exchange their MrDG tokens for BUSD, AYA and AFRA on market rates, this exchange would be available based on currently market liquidity and prices to keep the exchange available and fair to all users.
We believe security and transparency would be the main aspect for the project thus everything is kept on the blockchain, the access to the contract for management will be protected by a timelock contract which would allow each action on the contract by the team to be queued before it is done on the platform , this will allow users to lookout for any future changes that are going to be done later, each transaction will be required to be sent to timelock atleast 24hours before it is executed on the main contract. This allows users to do their transactions or wait for their transactions before the changes are deployed. Timelock has been used by multiple big projects and have been increase security and transparency for the users by alot thus it will be used on the platform to keep it as secure as possible.
We expect to launch the platform mid October 2022 and we believe users will be excited to use the new platform and would profit with it overtime!
