School is back, fall is near, and Gainers continue to harvest their rewards as they have for the past 150 days. This season we further establish our roots as we get ready to deploy our DAPP that brings farming front & center in Algorand. Let’s have a look at what lies ahead.
Season Five Review
One of our goals in season five was to reduce $GAIN emissions while still offering in-demand incentives for liquidity providers. We achieved this by being the only one of 80+ farms on Cometa to offer USDC as a farm reward. In addition to the USDC farm, we offered ALGO as a reward for staking GAIN, and that pool consistently had over $5,000 in TVL. The effect of smaller emissions was seen in the late season chart movement GAIN had.
Having GAIN included in the second cycle of TINY farm rewards was a great boost as well. We hope to have GAIN be a fixture of earning TINY rewards through governance, so we encourage all gainers to roll their TINY into voting and keep this cycle in-tact. More on this topic later in the article.
Harvest Moon
Season six brings Harvest Moon as our theme. This is appropriate for a couple reasons. First, the actual Harvest Moon happens during the next 30 days. Second, our farmers have been reaping amazing harvests since we launched. Through giveaways, farms, and pools, Gainers who have been here since the start have had the opportunity to earn:
GAIN — ALGO — USDC — PEPE — GORA — LINK — SQUAD — INUMOO — TINY — BASED — FLOKI — SILVER — BOBO — PURR — ALC — DEFLY — BARB — PEIPEI —JAWS — BLOPS NFTs — NFD
That’s quite the harvest! This is also exactly who we are. We know people in DeFi like to earn a full slate of awesome rewards, so that’s what we do. Don’t expect this to change anytime soon.
With our Harvest Moon theme, expect to see graphics and marketing materials that channel the classic Nintendo game of the same name.
Farms & Pool
As previously mentioned on X, we have renewed the GAIN-ALGO earn GAIN farm on Tinyman for another three months.
Gainers love this farm as it is frictionless (LPs don’t leave your wallet) and it also has the opportunity to earn TINY as a supplemental reward. We consider this farm to be a marquee one for the project and will endeavor to keep it live for as long as Tinyman is around.
History suggests the last quarter of the year of BTC’s halving offers great returns on Bitcoin. Gainers love great returns, so this is a match made in heaven.
For this Harvest Moon, we’re offering the big daddy of all cryptos as a farm reward. Starting Sept. 21 stake your GAIN-USDC Tiny LPs on Cometa and earn goBTC.
Last but not least is our Season Six pool. Before rug.ninja launched we put out a X post (tweet is such a better term) expressing our willingness to work with any of the first five tokens to launch. Given the nature of how the service works, there wasn’t a lot of opportunity for launching teams to do LP collabs or farms though.
Nevertheless, we’re making good on our intent. This season you are welcome to ignore our pool, but we encourage you not to. Cause we’re offering a reward created by the Algorand CTO. Join the harvest by staking GAIN and earning JAWS.
While piling into the top, exiting at the bottom, and leaving the token for dead is the default approach for the majority of Algofam, we believe JAWS has a long life ahead of it. In current form, the chart shows it has undergone a complete market cycle and is now in a consolidation phase. Meaning, this is the best time to start acquiring it. And you can do just that by simply staking GAIN.
NFD
At the start of Season Six, the price for gain.algo segment minting will go up $10 to $28.50. The reason for the price increase is due to the utility NFD holders will have through our DAPP.
Once the DAPP is live, 10% of the DAPP’s quarterly revenue will be distributed to gain.algo segment holders. Rev share, as it’s commonly known, will come in the form of ALGO & USDC. Snapshot minters will be receiving a higher allocation than those that minted after them. There is still one snapshot minted v2 NFD available, and that is “i.gain.algo.” It is available for purchase on the segment minting page. Keep in mind “i.gain.algo” is a lifetime ownership v2 NFD and has no annual subscription.
Details of how the DAPP will generate revenue are discussed in the section below, but we believe the NFDs will pay for themselves on an annual basis — if not generate a profit. After two full quarterly distributions, we’ll reassess the estimated value and potentially increase the minting cost further from there. Thanks to everyone who has minted a segment so far, and we hope you enjoy this perk!
DAPP
Work on the Gainify DAPP is still on-going, and we expect it to be ready for full deployment at the start of Season Seven. But we’re at a place where we can elaborate a bit more on the first iteration, and explain the long term goals of what we want to do with it.
The Gainify DAPP will start off by offering self-serve farms & pools to projects & users in Algorand. It will be similar to what is offered by Cometa, but will have a few important wrinkles at launch.
The first is the cost to deploy a farm or pool. Currently, Cometa charges 100 ALGO + 1% of the reward token to deploy. The Gainify DAPP will cost $10 USDC, or 80 ALGO, with no % of the reward token taken as a fee. As long time deployers on Cometa, we understand the value of charging a flat rate that doesn’t take any of the rewarded token.
For example, when we launched GBAG Cometa ended up with 1% of the total supply. When we inquired about what would happen with it, or the opportunity to buy it back, we received no response. For many project owners, putting 1% of the farm rewarded token into a black box is unattractive.
Next, anyone who has spent time in Algorand knows that most farmers & stakers love to jeet. On Tinyman, CompX, Akita, or other farming/staking sites, end users can enter/claim/withdraw without any cost to them. That changes with the Gainify DAPP, and now the people earning massive APRs will have to pay a nominal fee to earn their big returns.
For each user action on Gainify, they will pay .33 ALGO. These actions include: entering a farm or pool, claiming, and withdrawing. The fee covers the network cost of course, but it also dis-incentivizes repetitious claims and dumps. The goal here is two-fold:
1. Create a revenue stream for Gainify to continually develop
2. Ensure farmers and stakers are committed to the tokens they’re earning
Even with the fee, users can enter a farm, make one claim, and withdraw for under 1 ALGO total cost. But for those that like to make multiple claims per day, their cost basis increases dramatically. Hopefully this will slightly deter the rapid dumping of farmed tokens in the Algorand ecosystem.
Another benefit of this fee structure is the ability to reward Gainers. As mentioned above, 10% of the quarterly revenue will be distributed to NFD segment holders. In addition to that, 5% of the quarterly revenue will be used to buyback and burn GAIN tokens. So if you own a segment, farm or hold GAIN, it’s in your best interest to drive traffic to our DAPP when it launches — as you’ll directly benefit from it!
Once our first version is live, we’ll be shifting our focus to integrating auto-compounding. The low network cost makes Algorand an ideal environment for this feature. We’ll have plenty of documentation and explanation of the process when we’re near completion of it. After auto-compounding is complete, look for our DAPP to integrate new functionality that provides lucrative opportunities to Algorand users and projects alike.
Tinyman Voting
We’re opening up our treasury for anyone who wants to donate TINY to it. We’ll use the donated TINY to vote for GAIN/ALGO LPs to receive farm rewards every cycle. If you’d like to contribute a round of your staking rewards we’d be happy to put it to good use! We appreciate any contribution, no matter the amount. You can send it to:
gainify.algo
GAIN5GZRTVHK2UKESHUBR6NNPCRMCOEMEEMIPPKGLT6FLCKJVX553JGO4Q
As mentioned above, we want users to be able to farm on Tinyman as they enjoy it. We can collectively make the farming experience better by consistently voting for the GAIN-ALGO LP to receive TINY rewards, in addition to the provided GAIN.
If you’re unfamiliar, here is a good breakdown of Tinyman’s farming process. Simply, you lock TINY in governance and have voting power equivalent to the time frame you lock for. The longer you lock, the more voting power and TINY you’ll receive via a higher APR.
When voting periods open, simply search “GAIN” and you’ll find the GAIN-ALGO LP at the top of the list. Click the plus to allocate a voting percentage, confirm the transaction, and you’re all set!
To encourage Algofam to vote for GAIN, we’re giving away a BLOPS! NFT to a GAIN voter. We’ll randomly select a winner from the voting record. Here are the requirements to enter:
- Have a NFD so we can send the BLOP to your vault. It doesn’t have to be gain.algo, just a NFD attached to your voting record
- Vote for GAIN-ALGO to receive TINY rewards before the October 1st voting period closes
- If GAIN receives TINY rewards, a randomly selected winner will take home BLOP #972 (pic below)
All you have to do is vote for GAIN and you enter to win a BLOP!
Record
Values in parentheses are based on the start of the prior season
- GAIN price = $.00064 (+28%)
- Total trading volume = 1.59M ALGO (+100k)
- 1 ALGO = 197 GAIN (-64)
- GAIN FDMC = $73,698 (+22k)
- GAIN TVL = $32,599 (+$8,533)
- Holders = 450 (+31, this number doesn’t include LPs or farmers)
- GAIN Liquidity Pairings = 8 >$100 (even)
- Segments minted = 73 (+5)
- Twitter followers = 1,107 (+117)
- Discord members = 222 (-1)
Wrapping Up
We hope Gainers enjoy the rewards this season. Next season and beyond, Gainify as a project will look dramatically different. Between our DAPP, “rev share”, buy backs & burns — we’re creating a stimulating ecosystem that puts farming at the forefront of the Algorand ecosystem.
Plus we’re doing all of this without Algorand Foundation handouts or welfare. GAIN yields and liquidity will never be dependent on anything other than the market. Our team will add liquidity here and there, but DeFi needs decentralization to fulfill its thesis; and Gainify needs you to support this ideal. For all the criticism xGOV & TDR receive, there is an opportunity for you to protest it by entering a project that lives without it.
Enjoy this harvest moon as winter is coming. But the nice thing about winter is, you can crank the heat up.
