1# Double standard yield farming
1# Double standard yield farming
Foodcourt will curate the top 💯 native coins from CoinMarketCap that use BIP39 standard as public wallets. 🔥 If you are qualified to this, you will be listed on foodcourt soon! 🔥
It has to be BIP39 Standard because we're working with KillSwitch team who have fully managed bridge using BIP39 standard for cross chains.
Why Double standard❓ To clarify let's us explained
We have an LP of kMatic(BEP20) <=> Matic(BEP20)
kMatic(BEP20) is Matic on BSC issued by KillSwitch, customer can buy kMatic on Foodcourt LP or bridge from Matic chain via NorthBridge with 1:1 ratio.
Matic(BEP20) is Matic on BSC issued by Binance, customer can buy MATIC on ApeSwap-LP or buy from Binance (Centralized Exchange) then withdraw to the wallet on BSC.
This new approach on yield farming, help customer who believe in native coin on any chains can HODL their favorite cryptocurrencies without suffering from Impermanent loss.
Why is that possible❓
This pegged algorithm will be maintained under 3 conditions
MATIC Chain is still operated
MATIC(BEP20) Binance standard still listed on BINANCE CENTRALIZED EXCHANGE
BINANCE CENTRALIZED EXCHANGE still operated
There are arbitrage bots and even human bots. As long as there are freely operate when ratio of kMatic:Matic is not 1:1, there will be market mechanism to restore these balance. Soon price of pegged pairs will come back to 1:1
Customer cannot transfer kMatic back to Binance Centralize Exchange otherwise kMatic might lose forever, if customer want to cash out kMatic either swap to Matic(BEP20) and transfer to binance or can swap kMatic to BNB or others cryptocurrency on DEX
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