Cake Miner Dapp
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.
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
TOKEN: Cake – Bep20 (from PancakeSwap on BSC)
TOKEN CA: 0x0E09FaBB73Bd3Ade0a17ECC321fD13a19e81cE82
Pancake Swap Site: https://pancakeswap.finance/swap
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.
- 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.