PolyDIAMOND

$BTC's only real competitor

Bringing a new concept to the table

Hello! We are PolyDiamond, the first high value yield farm on Polygon. If you're reading this, you've probably heard us throw that term around a few times by now. And you're probably wondering, "what the heck is a high value yield farm!" Valid question of course, let us explain.

Put simply, a high value yield farm is a farming protocol with a very expensive token; as expensive as $BTC, maybe even more. As experienced degens in the space, our team never saw this kind of a yield farm be implemented properly, and we kind of wanted to change that! So we developed PolyDIAMOND, the first high value yield farm on Polygon.

Creating an expensive token

The underlying concepts of a high value yield farm are actually quite simple and can ultimately be summed up in two phrases: Low supply, Low emission. Yup. By having a low initial supply, we can make sure that we start on a high point, but that's not enough. We must also make sure that the price stays high. Therefore we implement low emissions. $DMND will have an initial supply of 16 tokens, and DiamondChef will distribute $DMND at a rate of 0.005/block. There is a more in-depth analysis on tokenomics and emissions in the Tokenomics section. We really recommend, even insist that you read it. It is very educational.

Creating an edge by introducing a limiting factor

For us, having a low supply and low emissions was simply not enough. A yield farm that just keeps printing its token on and on forever is (excuse my language) really just a shit-farm. We don't want to make a shit-farm. So, we're limiting the supply. We also think that minting a token for too long will just kill it. So, we've set the maximum supply to be ~2100 tokens. We will manually stop emissions 14 days after farm launch.

Creating a use for our expensive token

Not only do we plan to compete with $BTC, but we plan to win. Currently, $BTC holds no real functional value other than providing safe (and slow) transactions. Don't get me wrong. I love $BTC she is my baby, but you simply cannot wait at the grocery store cash register for 8 minutes while your bitcoin transaction goes (or doesn't go) through.

Unlike $BTC however, Polygon offers us (usually) sub 3-second transactions, along with a world of opportunities. I could purchase a product from anyone else on the blockchain in a matter of seconds. They'd be able to confirm my payment within the same timeframe, and would then transfer ownership of that item to me. Smart contracts allow us to take this even further! We can make it so that the vendors on the blockchain are trust-less programs! The possibilities truly are infinite. Our lead developer has lots of ideas, and we are very excited to work with him in implementing those ideas. Our plans include digital item marketplaces, a brand new idea for an algorithmic stable-coin, and so much more. We feel that we can really show everyone the true potential of DeFi.