COF – Cake Of Fortune

Cake of Fortune

Cake Miner Dapp

COF DESCRIPTION

Cake of Fortune (CoF) was the first project from the Fortune Hunters (FH) team to be launched. In essence it’s a standard miner. 

The major difference between CoF and other miners is that the “dev fees” from deposits are used to invest in pools that generate yield instead of being used to pay developers. 

The interest generated from these pools is injected back into the CoF contract as needed. 

This helps to maintain a stable TVL and project longevity to keep paying everyone who is invested in it.

 This mechanism effectively removes “ponzinomics” from CoF. 

In addition to continuously generate income from pools, CoF also receives incremental TVL boosts from fees collected on all other projects launched after it.

COF USEFUL LINKS AND DATA

COF – Cake Of Fortune.

STATUS: ACTIVE 

SITE: https://thefortunehunters.pro

APR: 3% (based on miner worth)

REF SYSTEM: 7% on deposits to the person whose ref link the depositor is using.

LAUNCH DATE: 07/05/2022

CONTRACT: https://bscscan.com/address/0x07694c31d496290632defe3bc048c82b20b28036

ANALYTICS: https://bscscan.com/token/0x0e09fabb73bd3ade0a17ecc321fd13a19e81ce82?a=0x07694c31d496290632defe3bc048c82b20b28036#tokenAnalytics

TOKEN: Cake – Bep20 (from PancakeSwap on BSC)

TOKEN CA: 0x0E09FaBB73Bd3Ade0a17ECC321fD13a19e81cE82

Pancake Swap Site: https://pancakeswap.finance/swap

Cake of Fortune QR Code
TAX STRUCTURE

In CoF, investors pay 0% tax on their deposits, which means that when they make a deposit they receive miners that are equal to 100% of the value of their investment. Upon claiming rewards, there is a 5% tax that is subtracted from the amount claimed. 
Although there is no tax on deposits, 5% of every deposit is taken from the TVL to support the project. Effectively, 5% of every deposit and claim in CoF is distributed as follows:

  • 5% invested into pools to generate yield for project

Currently all taxes are used to develop and grow CoF. All yield generated in pools is used to boost the TVL of the contract. The team does not take any fees from CoF as payment.

GLOSSARY
  • COF – CAKE Of Fortune
  • ROI – Return Over Investment
  • Dapp – Defi Application
  • APR – Annual Percentage Rate
  • MINER – The name given to a Defi project that uses the TVL to determine an asset value and from which the rewards are calculated, thus in essence “mining” the TVL.
  • TVL – Total Value Locked – It is the total amount of funds present in the contract (deposited funds minus fees minus claims)
  • Miners – When a user deposits and buys miners, these miners’ price is not fixed, rather it’s determined by the TVL. As the TVL goes up the price per miner also rises, when TVL goes down, the price per miner drops.
  • INFLATION – Inflation is used in miner Dapps to explain the drop in rewards and the variations in price per miner.
HOW MINERS WORK
This is an example to help people understand how Miners Dapps works and some of the terms used.
 
Practical example:
TVL is at 1000 Cake
User A deposits 100 Cake tokens and receives 100 miners. (the price per miner was 1 Cake).
TVL is now 1100 Cake.
User B deposits 100 Cake tokens and receives 90.90 miners. (the price per miner was now 1.1 Cake).
The APR is 3% per day.
User A is receiving 3.6 Cake per day in rewards.
User B is receiving 2.27 Cake per day in rewards.
 
Both deposited the same 100 Cake but the price each paid per miner was different, user A got 10 miners more than user B.
TVL determines the value of the miners, after user B bought his miners TVL increased to 1200 cake which made the 100 miners that user A had to be worth 120 Cake, thus 3% over 120 is 3.6, and user B with 90.90 worth 109.09 Cake due to the TVL being now 1200 Cake is generating 2.27 Cake per day. 109.09 x 3% = 2.27 Cake per day.
 
User B claims his rewards at the end of 24h. 2.27 Cake is claimed from the TVL. TVL is now 1196.72. He continues to have 90.90 miners which are now worth 108.79Cake.
 
User A compounds his rewards at the end of 24h.
TVL is now 1196.72 Cake each miner costs now 1.196 Cake, he now has 103 miners worth 123.6 Cake.
 
After some time TVL is down to 600 CAKE.
Each miner now costs 0.60 Cake.
User A has 123.6 miners. Worth a total of 61.8 Cake and generating 1.85 Cake per day (61.8 x 3% = 1.85)
User B has 90.90 miners worth a total of 54.54 Cake and generating 1.63 Cake per day (61.8 x 3% = 1.63)
 
By compounding rewards, the TVL remains intact and depending on other user’s actions, it may be possible to fight inflation.
 
Another possible way to fight inflation in miner Dapps is the claim and reinvest.
When a user claims the TVL drops, causing the price per miner to drop as well.
Meaning users are able to buy miners at a lower price than by simply compounding.
SHEETS (INDIVIDUAL ROI/TOTAL INJECTED FROM POOLS & POOLS BALANCE)

ROI SHEET https://docs.google.com/spreadsheets/d/1OyAe_zX6CAp41XgFU_M6K46wobzvKLRwLjJ3C2gWSAk/edit?usp=sharing

CHANGES/UPDATES