Finally a new crypto opportunity on Binance, as the Launchpool is resurrected with Hashflow ($HFT) farming! I honestly thought that the bear market killed the launchpool system, as Galaxy ended in May and nothing happened since then.
It's more tragic in the Launchpad sector, as the STEPN distribution took place in March. However, let's clap and welcome Hashflow! This is the 31st project on the Binance Launchpool, sharing the native token of the decentralized exchange connecting traders with professional market makers.
Hashflow is a decentralized exchange designed for interoperability, with zero slippage, and MEV-protected trades. The DEX is available on Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, and Optimism, with $10 billion in crypto trade volume since launch in 2021.
Farmers were able to stake their Binance Coin (BNB) and Binance USD (BUSD) into two separate pools to farm HFT tokens over 30 days. The event started on the 1st of November and the $HFT listing will take place on the 7th of November at 1 PM UTC with HFT/BTC, HFT/BUSD and HFT/USDT trading pairs.
PLEASE NOTE THAT BNB STAKED IN THE VAULT WILL NOW GENERATE REWARDS!
The Hashflow token ($HFT) has a genesis supply set at 1,000,000,000 tokens, with 5% issuance to the DAO treasury per year. The Launchpool will distribute 1.5% of the tokens, 12 million in the BNB pool and 3 million in the BUSD pool.
Hashflow is not only the protocol native token, but also powers the Hashflow’s gamified governance platform called Hashverse. The users can stake HFT to unlock features within the Hashflow ecosystem, including governance votes and rewards.
The farming rate will not be decreased upon listing, and will be maintained the same for the whole period. I still plan to sell my farmed tokens on listing day, and buy more when the price drops.
I tried to do a trick, selling my UMA before the Hashflow Lunchpool started and planning to buy back after few days of farming. I sold at 2.21 BUSD per UMA and added 581 dollars in the pool.
After one day and a half of farming, the BUSD generated 0.0484 $HFT and I decided that this amount is not great. Will see on listing day if it will bring profit but at that point I decided I want my UMA back.
I was fortunate to get a better price on the day, buying back the 262 UMA tokens I swapped for BUSD. The price was 0.461 UMA per BUSD, a buy-back at few cents lower then what I sold.
I made 13.69 BUSD profit after the price drop and decided to go full degen... buying DOGE! Elon's favorite crypto was down 30% when I bought, getting 103.99 DOGE for the dollars I had.
At the beginning I missed the "PLEASE NOTE THAT BNB STAKED IN THE VAULT WILL NOT GENERATE REWARDS!" I failed to read this in Felix's article and I lost one day of power farming! I noticed after a day and a half that no reward was credited and staked the BNB directly in the pool. However, the Binance changed their mind and will reward HFT for who had BNB in the vault... on a weekly basis.
The farming in the BNB is much better, four times quicker then the BUSD pool. My up-to-date reward is x HFT, and I am forecasting at least x by listing day. Set your alarm for 1 PM on the 7th of November and be ready to cash the profit!
Residual Income:
DeFi bounty at CakeDeFi with $30 DFI for new user
The fountains: PipeFlare ZCash, GlobalHive ZCash & GetZen.