Vampire Farming

The yield farm revolution, taking place on Avalanche.

Vampire Farming is a new way of yield farming we've created to shape the current DEX and DeFi economy. By leveraging an Exchange's own farming mechanisms, we're able to extract the value out of their token (JOE) and into our token, BOOFI.

What is it?

Vampire Attacks are not new to crypto, they've happened with great success in the past. Sushiswap's story of David vs. Goliath is quite known around the crypto sphere. We've built upon this idea and methodically crafted an Ecosystem built on liquidity vampire attacks and other blood-sucking mechanisms to increase our Community's wealth.

Decentralized Finance is a battlefield and we're not afraid to make enemies. We're here to increase BOOFI's (native token) value at all costs. Our only constraints are those set by the BooFi Community. Join now, and help us win the battle.

A New Wave of Farming

Old Farming Method

Traditional yield farms provided by exchanges such Trader Joe or Pancakeswap have been with us for quite some time. The DEX provides rewards in the form of tokens like JOE and this JOE is harvested by LP providers. These tokens must be minted from thin air and this creates a lot of inflation for the JOE token. This inflation goes to farmers who then sell their JOE or hold it.

YourAPR=TraderJoesAPRYour APR = Trader Joe's APR

Vampire Farming

The vampire farm sucks rewards from Trader Joe's traditional farms. By automatically depositing liquidity tokens into their farms and automatically selling the rewards for zBOOFI, we can always maintain a higher APR than Trader Joe. Since zBOOFI's growth is compounded, your yield is always growing in value, even while you sleep.

YourAPR=TraderJoeAPR+BonusBOOFIAPR+zBOOFIcompoundingAPRYour APR = Trader Joe APR + Bonus BOOFI APR + zBOOFI compounding APR

As BooFinance's ownership over Trader Joe's liquidity surges, the gap between our APR and theirs will widen significantly. Given Trader Joe's inferior APR, most liquidity miners will eventually have to migrate their liquidity to our platform. This cycle of events is known as vampire looping. JOE investors will also be forced to reconsider their position and hedge against JOE's demise with BOOFI.

As the JOE is sold, the constant volume will reward BOOFI/AVAX LP token farmers given it's routed through this pair. The sale of JOE will constantly increase, opening the possibility for a governance take-over. This will be initiated by zBOOFI voters through the BooCouncil (Decentralized Governance) when our share of Trader Joe's liquidity is sufficient.

BOOFI purchases, JOE sales

BooFi's vampire contracts are structured in such a way that they exert immense downward pressure on the JOE token. This effect is magnified as more liquidity migrates to our platform. The more Joe LP tokens that are moved, the higher the difference in APR between the two platforms.

For example: Imagine the APR of a particular pair on Trader Joe is 30%. BooFinance can offer a 33% APR, but if the liquidity of this pair triples within the Vampire Farms, the APR on BooFinance could theoretically increase to over 45%, 50% higher than at Trader Joe.

Multi-chain Vampire Hopping

We're Avalanche fanatics and will put our blood-sucking mechanisms to work in cross-chain vampire attacks. We'll be incentivizing a migration of liquidity from chains like Fantom and BSC through our vampire mechanisms. Targeted projects will be subject to a hostile take-over by the BooCouncil DAO (Community Governance). You can get involved and help decide the fate of these conquered projects. Join our discord here.

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