Farms
The FarmYield DAO team will undertake various farming projects. These will include vegetables, (cucumber, carrots, bell pepper, ginger), food crops (maize, soya, millet, etc.) and poultry and livestock.
- A virtual farmer decides which farm they wish to invest in. The APR will be forecasted for each farm considering factors such as price change, under-yield, and production cost.
- Assuming a Virtual Farmer who does not hold FYD tokens decides to invest $1000 in a ginger farm, a percentage of his investment will go into purchasing an insurance cover for his farm. Assuming the insurance rate is 15%, the farmer will be investing $850, and the APR will be calculated based on the $850.
- If the total sum of investment in the ginger farm is $10,000 and the APR is 30%, then the farmer will receive $255 at the end of the contract. It means the return on investment (ROI) is $105.
- For a Virtual farmer who holds FYD tokens, we will reduce the insurance by up to 100% depending on the number of tokens they hold. For example, virtual farmers who hold 100- 999 FYD stand a chance of their insurance being reduced by 0.1 to 1.99% whereas those who hold 1,000,000 FYD will be reduced by 70.99%.