Solfarm has already gone through several versions. After launch, the team created double-asset reward pools and enabled leveraged farming. Solfarm intends to better user experience by optimizing its front end and working on a V2 version of the farm in the future.
About Tulip Protocol
Despite the fact that the platform is currently in beta and all programming is experimental, the farm’s goal is to provide a simplified user experience with optimal APYs and “set and forget” techniques. By offering liquidity to Solana-native DEXes like as Raydium and SABER, it follows in the footsteps of Uniswap on Ethereum and PancakeSwap on BSC. Users contribute liquidity on Solfarm and receive interest on their investments as well as TULIP, Solfarm’s native governance token, while exchanges profit from increased liquidity.
What is Tulip Protocol [TULIP]?
Solfarm is the Solana blockchain’s first decentralized yield aggregator with auto-compounding vault techniques. It is intended to benefit from Solana’s low-cost, high-efficiency blockchain. It enables vault methods to compound more often, providing stakeholders with greater APY while needing less active administration.
Who Are the Founders of Tulip Protocol [TULIP]?
Solfarm was formed by an unnamed group of persons with DeFi experience. As co-founders, “Momo” and “senx” are named, the former with four years of crypto expertise managing blockchain initiatives “with a great interest and eye for DeFi goods,” the latter with several years of practical experience in level 1 crypto exchanges and an accomplished on-chain farmer. “therealssj,” Solfarm’s Lead Developer, has been in the industry since 2017. “Post” is the ecosystem’s senior developer, a blockchain engineer with an expertise in systems administration who has been working in the ecosystem since 2011. The System Admin & Junior Developer is “Littlepoggers,” a mining and node-running enthusiast. Finally, “Barney” is a UI/UX Developer who has worked for two unicorn businesses.
What Makes Tulip Protocol Unique?
Leveraged yield farming is one of Solfarm’s core value offerings. Leveraged yield farming, like traditional yield farming, involves a borrower and a lender who invest their assets into a lending pool to receive a variable deposit rate with compounding interest. Yield farmers can thus expand their positions and generate even larger yearly yields while being vulnerable to smart contract and liquidation risks. Solfarm liquidates at a loan-to-value ratio of 85 percent. After the loan has been settled and the liquidation reward has been paid, the position will be forced liquidated and the collateral will be returned.
Leveraged yield farming carries a directional risk as well. A farmer who supplies USDC while borrowing RAY to farm in the RAY-USDC liquidity pool is effectively RAY short. When the asset’s price rises, RAY is sold from the pool, and the borrower suffers a temporary loss. If the position is not handled properly, it may be liquidated.
Where Can You Buy Tulip Protocol [TULIP]?
If you’re looking for a place to purchase TULIP, the best cryptocurrency exchanges to use right now are FTX, Gate.io, AEX, LATOKEN, and Serum DEX.
Frequently Asked Questions
Can I Buy Tulip Protocol [TULIP] With Cash?
No. There is no direct method to purchase TULIP using cash. You can, however, utilize markets such as LocalBitcoins to first acquire BTC, and then complete the remainder of the procedures by moving your BTC to the appropriate AltCoin exchangers.
Are there any quick ways to buy Tulip Protocol [TULIP] in Europe?
Yes, in reality, Europe is one of the easiest countries to acquire cryptocurrency in general. There are also online banks where you can create an account and send funds to exchanges like Coinbase and Uphold.
On what factors does the price of Tulip Protocol [TULIP] Depend?
Exchange inflows and outflows, technical and fundamental changes, the news cycle, and the overall economic climate are all variables that impact TULIP’s price and market cap.
Tulip Protocol Official website – https://tulip.protocol/
Tulip Protocol Medium – https://medium.com/tulipprotocol
Tulip Protocol Twitter – https://twitter.com/TulipProtocol