Don-Key To Take EToro’s Approach To Yield Farming After Closing $2.2 Million Round

Don-Key To Take EToro’s Approach To Yield Farming After Closing $2.2 Million Round

Don-Key To Take EToro’s Approach To Yield Farming After Closing $2.2 Million Round

Tortola, BVI, 13. April 2021, The thread of the chain

With a total cost of $1 million, Don-Key aims to become a De Fai e-Toroom and create a comprehensive social growing platform that will improve accessibility and increase capacity for growers.

A fundraising platform that helps newcomers get started.

Decentralized finance (DeFi) is finally benefiting from blockchain’s ability to supplant traditional centralized finance (CeFi), but the road to adoption remains long despite progress.

As DeFi gains popularity, it brings to light one of the most complex but vital activities in the ecosystem: culture. For the uninitiated farmer, the return is similar to depositing money in a certificate of deposit (CD) that earns interest periodically when the collateral is locked in. However, unlike CD yields, which are typically only a few percent of annual income, the yield (APY) can be slightly higher.

As with most things, the learning curve with this Wild West DeFi is steeper than most. Fortunately, that’s all changing as Don-Key takes over eToro’s social trading model in the form of the DeFi Crop platform.

A simple but elegant solution from Don Kay: Social agriculture

Just as E-Toro disrupted investing by bringing social money management to financial markets and cryptocurrencies, Don-Key wants to do the same with its farming platform. By flattening the learning curve and making the concept more accessible to more cryptocurrency users, the platform aims to help farmers and pastoralists take advantage of these potentially inflated returns.

After recently closing a successful $2.2 million funding round from a consortium of investors, including AU21, Black Edge Capital, Genesis Block Ventures, Morningstar Ventures, MoonWhale, Solidity Ventures, and Spark Digital Capital, Don-Kay is making an example of eToro.

As with copying, users of the Don Key platform will be able to participate in copying by ranking farmers based on their performance on a leaderboard that displays the best performing farmers, or based on parameters such as reputation. For users who distribute cryptocurrencies, pooling investors will reduce costs compared to existing mining methods. In addition, farmers and lenders who join the platform will receive symbolic rewards.

By simplifying the interface and experience for the uninitiated, Don-Key aims to support all stakeholders in the platform. Instead of mocking vulnerability to crop loss and smart contracts with constantly fluctuating profits, newcomers can support successful farmers. In this way, farmers themselves can improve their access to capital to achieve higher returns.

With this incentive and gamification model, farmers should be constantly looking for opportunities. With strict harvesting requirements that make it highly untouchable for users with little capital, this model will encourage more DeFi participants and ultimately lead to adoption. In the meantime, Don-Key will use fresh capital to further develop the platform, although launch plans have not yet been announced.

About:

Don-key.finance was founded in 2020, at the start of the harvest boom, with a very clear vision of how to bring the simplicity of copy trading to the complex world of DeFi yield farming. The founders of Don-key are DeFi enthusiasts from Israel, Cyprus, Ukraine and India who have a sincere desire to democratize agriculture and help crypto-currency users around the world keep up with the ever-changing world of agriculture.

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