Why Are We Different?

An introduction to the factors that make us different from other yield farms.

Our team at MagmaCake Finance are yield farmers as well, just like any of you guys reading this right now. However, looking through the yield farms that come up nowadays, we can't help but wonder, why are there so many shitfarms nowadays? The innovations on farms have come to a grinding halt, and there are weird implementations on standard forks that we can't seem to wrap our mind around. Furthermore, although it is obvious that the native token has to be prioritized in order to promise the longevity of a yield farm, it seems like that is barely the priority of most yield farms nowadays. What's even more appalling is that with the harvest lockup in place, using a standard fork would result in crazily low and inaccurate APYs for the single staking native pool, which works heavily against the longevity of a yield farm. Here's how we have tackled such issues.

• Smart Transfer Tax: We do NOT tax native farmers for staking, unstaking and harvesting $MAGMA tokens! On normal farms with transfer tax, native farmers get taxed far more than the non-native farmers due to the transfer tax, despite it supposedly having 0% deposit fee! At MagmaCake, we keep to our promise of 0% deposit fee by NOT taxing native farmers for farming, and only imposing the transfer tax on buy and sell orders on PCS!

• Higher APY, Accurate APY for $MAGMA Staking: Long story short, for standard forks with harvest lock, the APY for native staking pool is both low, and inaccurate, due to negligent calculations within the MasterChef. It has a long-winded explanation behind it, but you can read about it in detail in the coming pages. But what we do promise is not just accurate APY, but higher APY (for native staking pool) than other standard forks with harvest lock!

• Auto Renewal of Harvest Blocks: For standard LavaCake forks, developers would have to manually update the next harvest block, which might lead to human error or just pure negligence by the developers. However, at MagmaCake, we fully automated this process, and it is within the contract code for you to verify. Basically, the next harvest block would be automatically set to 6 days after the end of the previous harvest unlock, making for a more reliable source of harvesting!