If you are down for some more risk-taking, a new opportunity seems to be emerging on the Polygon network.

Singular was created by the same team that is behind Ape Swap, a well-known AMM on the Binance Chain and it's time we took a deeper look into it.

How?

Since the farm is on Polygon, you will need to add it to Metamask before we can begin. Detailed instructions on how to do that can be found here.

Why?

The price seems to be stabilizing but the APR and APY are still very high. From my perspective, this is one of those high-risk plays that can double your stake in no time. On the other hand, it can obliterate it at the same pace so let's be cautious with this one, shall we?

As I already mentioned, the team behind Ape Swap has developed Singular and the idea seems very interesting, to say the least. Supply is capped at 1.2M SING tokens and they can be staked in the "bank" to earn some pretty nice dividends. Those that farm for a few days without selling can also be rewarded with a "hold" boost which increases your rewards even more.

There isn't too much liquidity available but there is more than enough for modest farmers. The price has took a nice blow since launch but it seems to be picking up the pace as we speak.

There is over $3.5M locked on the platform and the market cap seems to be at a very reasonable ratio when taking that metric into consideration. Instead of issuing rewards per block, this one issues them per second making the farming experience a bit more unique and different from the competition.

Basic Infomation

Token Name: Singular
Token Symbol: SING
Max Supply: 1.2M
Emission rate: 0.33 SING/s
0.33 SING/s for 1 week, 0.25SING/s for a month, then keep decrease every week till it flattens to reach the cap.
Contract Addresses fo rPolygon (Matic):
$SING : 0xCB898b0eFb084Df14dd8E018dA37B4d0f06aB26D
MasterSing : 0x9762Fe3ef5502dF432de41E7765b0ccC90E02e92
Bank : 0xa16aBac16965D249C813B56bf8f923Be69E4E66F
SING-USDC LP : 0x6046eb198abc5ea4f17027bc00a2aee0420e84ee
SING-MATIC LP : 0x854d3639f38f65c091664062230091858955ddc2

Transfer Tax

Every perfromed transaction will be charged with a 5% transfer tax. 4% will go into the Bank and 1% will be burned.
There will be 5% of tax in strategic farming. 1% will be used to buyback and burn. 4% will be used for further development and marketing
Make sure to set the slippage to minimum of 5% when you trade (due to tax)

Investing Strategy

Depending on your risk tolerance, you can choose two different paths for this one.

Farms that include the SING token offer insane returns right now. If you have some spare money that you can afford to burn, trying with one of those is still an option. Those that don't want to risk it can get about 750% in Matic/DAI farms or even stake USDC and earn around 350% in SING.

From there you can either chose to liquidate your rewards immediately after claiming them or stake them in the bank. Both choices seem reasonable in my book so chose what seems less risky for you. So far I have had a good experience with the Bank because the USDC rewards can be claimed whenever you want and the current dividend ratio seems to be sitting at about $1.5 per SING staked on a weekly basis.

Risks Involved

The project has been audited by Solidity Finance but that is the only audit so far. They do have a "reviewed by RugDoc" badge on the website but that doesn't really mean much these days.

Apart from the security risks, the price seems to be volatile as well. It may settle around the $6 level but it is important to keep in mind that the farms are printing SING like crazy right now so dumping should be expected.

Long-term investors should probably DCA into the bank directly and take advantage of the dividends while short-term risk-takers should look into the silly farm numbers.

Jerry Rating - 8/10

6k% APR is amazing but it is worth noting that this project is just a few weeks old. I love the fact that you can earn USDC by staking the native token but there is no guarantee that you will be able to retain the value you initially invest in this farm.

Documentation is clear but very bleak. The roadmap is unclear and the tokenomics can be a bit confusing but it all makes sense in the short-term.

On the bright side, they just announced a partnership with PolyCrystal Finance earlier today so this news may bring more enthusiasts over to Singular.

All in all, this one is hard to define. It is definitely a high-risk play but I am not willing to miss out on it. Read through the docs and try to play it smart.