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Main Farm

The main farm is a farm created directly by the core team or through governance and is directly related to the ecosystem. Stake major tokens in the ecosystem and rewards are also paid in major tokens in the ecosystem.

Type​

Main Farms are further categorized into two types:

  • Regular Farm

This type of farm is directly influenced by Tokenomics and the ecosystem, typically requiring staking of specific tokens with rewards paid out in the same tokens.

  • Theme Farm

An event-centric farm designed to align with specific themes. These farms can operate on a one-off or temporary basis according to the purpose. For example, allow users to acquire ticket tokens or NFTs by staking major tokens within the ecosystem.

Farms​

MECA Farm​

MECA Farm functions as a genuine yield farming mechanism within the Coinmeca ecosystem, redistributing profits generated across various services to stakeholders. These profits, accrued in different tokens, are converted to MECA at the prevailing exchange rate and distributed as interest to MECA stakeholders based on their staking amount and duration. Holders who contribute to the ecosystem by owning MECA tokens can thus receive profits commensurate with their contributions through this Farm.

Interest Cycle

The interest reward cycle for MECA Farm operates on a 24-hour basis (86400 seconds). This means that the interest generated 24 hours prior is distributed among stakeholders based on their staking amount and duration for the subsequent 24 hours. Therefore, to fully receive the interest corresponding to their stake's share of the previous day's rewards, stakeholders must maintain their funds deposited for a continuous period of 24 hours. In other words, if a staker begins staking from the current moment and maintains it for 24 hours, they will receive the rewards generated on that day, distributed according to their staking percentage, after the 24-hour period. The reward cycle begins measuring from the moment the interest is generated in the Farm.

Staking​

Staking refers to depositing assets into the Farm to commence yield farming activities. Users can stake assets authorized by the Farm, thereby initiating yield farming activities as soon as the staking is made. It's essential to note that the interest reward cycle differs for each Farm, so it's advisable to review these details before initiating the staking process.

Harvest​

Harvesting involves reinvesting accumulated yield rewards back into the principal amount without withdrawing the initial funds, effectively combining the generated yield rewards with the staked principal. As of now, Coinmeca does not support compound interest or automatic rebase, necessitating regular harvesting to reinvest rewards. Please note that a 0.25% tax is levied on profits generated from harvesting activities.

Unstaking​

After staking assets, users can withdraw their deposited funds through unstaking. Users can withdraw a portion or the entire amount, including any accrued interest. If there are unharvested rewards at the time of unstaking and the withdrawal amount exceeds the principal, users have the option to withdraw both the principal and interest together.

Create Derive Farm​

A Derive Farm that follows a specific Main Farm is created, and anyone can create a Derive Farm for various purposes. The purpose of creating a Derive Farm is to increase the staking power of the Main Farm it follows. It can be used as a means to procure tokens required by the Main Farm from a wide range of participants, thereby increasing the pool's stake. For more detailed information, refer to the creation process of the Derive Farm.