If you haven’t read about the Goose Vault, please read it first
A lot of people asked about the Goose Dollar and our team has come up with more ideas to accelerate this funding. As mentioned in the previous article, Goose Dollar is backed by1 BUSD. The initial funding is 2 million USD supported by Goose Finance’s team wallet.
We came up with sGoose where you put down 1 dollar and get 1 sGoose Token. This 1 dollar will then be used to mint Goose Dollar for Vault users. You will then take this sGoose token to stake into…
2 million USD will be added to accelerate the Goose Vault
Goose vault is similar to other auto-compounder sites where you can auto-compound tokens like Pancake-BNB LP or BUSD-USDT LP to get higher APY. Usually, those sites will mint a platform token to you and you can hodl or sell as you like which involves lots of risks and price fluctuation.
HERE COMES THE DIFFERENCE!
We are now proposing a new leverage system where Goose Finance provides you funding to invest. When you stake onto any farm in the Goose Vault, you will be given Goose Dollar backed by $1USD…
A month feels like a year in crypto. Goose Finance was launched around one month ago, and we have been through so much this month. We tried our best to innovate in the BSC-space, and Goose Finance raised to the top #3 app on BSC. Firstly, we would like to thank all the goosers for the support. Secondly, we would like to highlight some achievements we have done in this month.
An analysis on the HoneySwap.fi rugpull
On Feb 28 at around 3AM UTC, HoneySwap.fi, another one of the latest Goose clones executed a rug pull. Transferred all of the staked funds to their own pockets.
This one caught a lot of people off guard because on first glance, it seemed everything was under timelock protection, including the migrator function that was added back in. Many in the community was left confused as to how they managed to bypass timelock protection to execute this rugpull.
So as always, let’s take a dive into what really happened.
HoneySwap.fi forked from the Goose…
Layered farming is one of the many methods coming up to battle the inflation of the $Egg token. We are not just copying from other sites but inventing our new method, therefore we came up with this layered farming + incubator system. You may ask, will it be enough? No, it’s impossible to have just 1 feature and create enough deflationary pressure to keep Eggs going, but we do not stop here. So let’s go into details about Layered farming.
We came up with the layered farming idea because we saw there are so many clones out there but people…
We have more news about the incubator that we are working on! We hope to launch it in 1–2 weeks.
Why we came up with this idea? It was because we saw people getting rug pulled every 2–3 days and it really made us lose faith in humanity. Therefore, we came up with this perpetual automated farm generator that gives high APY! Like my previous blog, we are giving you a way to APE SAFU perpetually.
We all know that Golden Egg has to solve the inflation problem like $CAKE, and we came up with this layered farming system.
The infamous “Migrator” strikes again
Just an hour or so after launch, CroissantSwap rugged with about 1M TVL.
They did it using the infamous “Migrator” that exists on many of the PancakeSwap forks. It took everyone’s staked assets and swapped them for a mock token “boo”.
What we are trying to solve in this yield farming system is that the token inflation gives a disadvantage to latecomers, but Goose Finance is here to provide you the best platform to invest into!
We saw that there has been a lot of people searching for new farms to ape into but always scared that there are rugpulls & dumping. We came up with a new plan to launch new farms every 14 days for people to ape-in perpetually, at the same time, solve the inflation issue.
We are proposing a layered farming, THE INCUBATOR. If you saw the…
How one underscore and cheeky devs lost people’s fortunes (Goose is safu, no cheekiness here allowed)
As you may have heard by now, IceCreamSwap just got dumped. The IceCream devs claims that this is an external theif exploiting a bug in their contract code. One might wonder if this really is a hacker or a well staged planned exit.
Eitherway, we are interested in what really happened right?
Like most current yield farms, our contract code mostly inherits from the SushiSwap MasterChef, maybe each with a little flavor of their own.
Now IceCream decided to be cheeky, they added an…
Remember the PopcornSwap rug pull? We are not talking about devs dumping their tokens on the market. We are talking about stealing everyone’s staked assets.
Almost all the forks from PancakeSwap inherited a back door called the “Migrator” that allowed the dev to take all the staked assets in the farms. Yes, I’m not joking, PancakeSwap can really take all your staked assets if they really wanted to. I’m not suggesting they will, but its in their power to do so.
2nd Generation Yield Farming on Binance Smart Chain