ScareCrow Finance is a yield aggregator and yield farming protocol that runs on Fantom. Despite its Halloween-like branding, ScareCrow seeks to help investors earn more from yield farming safely.
yield agriculture sector has been booming since the DeFi Craze of 2020. For example, thousands of protocols aim to help cryptocurrency holders earn passive income from their assets. However, with most of them, they are primarily the first to get the biggest loot. As a result, many newcomers lose significant ROI.
Fortunately, some new yield agriculture protocols plan to change this trend. One of them is ScareCrow Finance, and in this short review, we take a closer look at its features, potential, and roadmap.
What is ScareCrow Finance?
Scarecrow Finance is focused on providing a secure and stable agricultural platform for crypto-yielding farmers around the world. project is still in its early stages. However, you are looking to build a loyal community with access to great long-term profits.
platform has two native tokens, SCARE and SCAREG. former will provide initial liquidity on SpookySwap, Fantom’s DEX bridge. Additionally, it will allow liquidity providers to use it across numerous ScareCrow pools. y can pair it with other tokens, like FTM, USDC, wETH, and DAI.
On the other hand, SCAREG will reward its holders with governance powers. In addition, those who obtain it will be able to exclusively farm the incentive vaults of the future. In addition, they will have a voice in the farm’s decision-making process.
Farming with ScareCrow Finance started on October 19. Before its inception, users could deposit their tokens in any group or farm on the platform. However, they only received their rewards after farming took off.
ScareCrow Finance Features
ScareCrow Finance has a growing list of features that should help your farming community grow quickly and prosper. Some of them include:
farming
Anyone can stake their SCARE tokens in ScareCrow Finance liquidity funds and earn rewards. According to the ScareCrow App, liquidity providers can choose from more than 30 pairs and groups, including:
0% SCARE-FTM LP (PAR LP) (NATIVE) Deposit Fees
SCARE-USDC LP 0% Deposit Fees (LP PAR) (NATIVE)
0% SCARE Deposit Fees (SINGLE GROUP) (NATIVE)
USDC-FTM LP 2.4% Deposit Fees (LP PAR)
wETH-FTM LP 2.4% Deposit Rates (LP PAR)
2.4% deposit rates from wFTM (SINGLE POOL)
wETH 2.4% Deposit Rates (SINGLE POOL)
wBTC 2.4% Deposit Rates (SINGLE POOL)
wBNB 2.4% Deposit Rates (SINGLE POOL)
USDC 2.4% Deposit Fees (SINGLE POOL)
Stakeout
Alternatively, SCARE holders can stake their tokens on some pools with 0% deposit fees, such as:
For bigger winnings, they can also bet SCARE in groups with 2.4% deposit fees. Among them are:
Incentive vaults
This feature allows SCARE holders to stake their tokens without commissions. In exchange, they can earn rewards in tokens of their choice. Additionally, incentive vaults will have timers for the start and end.
Automatic composition vaults
SCARE holders can also use the autocomposing vaults of the ScareCrow singles group and LP pairs. So far these include vaults in Wolf Yield and Shady Finance.
ScareCrow Finance Tokenomics
ScareCrow Finance developers have launched SCARE without a pre-sale event. Additionally, they pre-minted 2,000 tokens for initial liquidity on SpookySwap. initial listing price was $ 0.5 DEV, which they eventually burned. Finally, they divided the initial amount into:
1000 SCARE – (500 $ FTM)
1000 SCARE – (500 $ USDC)
So far, the community has set a maximum supply of SCARE to go into circulation at 80,000 tokens. In addition, each block will have 0.015 emissions and the protocol will automatically burn 10% of them to maintain the SCARE price.
Most importantly, ScareCrow Finance developers will not hold or sell any native SCARE tokens. In this way, they will not be able to manipulate the price in any way.
At the time of this writing, SCARE had a total locked value (TVL) of $ 40,794,789.17. Its market capitalization was $ 7,596,948 and it had a circulating supply of 20,266 units. Lastly, the platform had minted more than 22,100 SCARE tokens and burned 1,836 of them. One SCARE was selling for $ 414.29.
SCAREG
SCAREG is ScareCrow Finance’s native governance token. It will only provide users with decision-making power on the platform. Also, they won’t be able to buy it anywhere outside of the ScareCrow farm.
project will provide SCAREG holders with a single vault for safekeeping. Here, they will be able to bet their SCARE tokens and get SCAREG in return. y can then get SCAREG to cultivate future incentive vaults.
best part is that users cannot lose their SCARE tokens this way. Also, they can sell or sell it while cultivating SCAREG tokens in the incentive vaults.
How safe is ScareCrow Finance?
ScareCrow Finance aims to guarantee its users the transparency and security of the protocol. In this regard, you have recently obtained an audit report from Solid Test, an expert company in the industry. You can find the report here.
Furthermore, users can withdraw their funds automatically in case of emergency. If something goes wrong, they can use Rugdoc, a tool the platform uses for extraordinary circumstances. Through it, token holders can quickly retrieve the funds that they previously allocated to the platform’s masterchef.
ScareCrow Finance has already listed your project in prestigious industry resources such as Coinmarketcap and CoinGecko.
Lastly, ScareCrow Finance has already established strategic partnerships with other industry projects. Among them are OliveCash, Fantom Cougar, PumpKins Farm, Grim Finance, and more.
Final thoughts
ScareCrow Finance plans to make yield farming safer and more profitable for everyone. According to its road map, the project has achieved most of the objectives that it has set so far. y then just have to launch the second layer, keeping SCARE as a massively rewarding core token. In addition, they will have to officially implement the platform’s governance token, SCAREG. Only time will tell how quickly and effectively this process will unfold.
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