The Tezos Blockchain and its hidden DeFi Gems #3

The Tezos Blockchain and its hidden DeFi Gems #3

By 2sats | 2sats | 2 Oct 2021

*obligatory not financial advice*


See the first two parts of this series:

The Tezos Blockchain and its hidden DeFi Gems #1

The Tezos Blockchain and its hidden DeFi Gems #2

Alright it’s been a few weeks since the first two episodes of the Tezos DeFi gem series, but I found some more opportunities for Tezos bulls. Let’s just jump right into it!



Crunchy is an application on Tezos that offers various DeFi services and solutions for other applications, developers or end users. The founders consider it a DeFi-as-a-Service (DaaS) platform. This are the main features of Crunchy:

  • Farms: They make it easy for project founders to offer yield farming to their users. People that provide liquidity for a decentralized exchange can stake their liquidity pools tokens on a farm to earn a reward token. New projects often do this to spread their new tokens amongst early investors.
  • Deep Freezers: They allow developers to lock their liquidity pool tokens until a specific end date. Once locked, they cannot remove their liquidity from the pool, this prevents rug pulls and so it gives users and investors trust and confidence in the project.
  • Slow Cookers: They are vesting smart contracts where developers and private investors can lock their XTZ funds for a specific time period. Vesting schedules are often used to prevent price crashes caused by many early investors taking profits at once, with Crunchy you can do that in a decentralized way.
  • Pie Slicer: This is a tool that makes it possible to cut an NFT into fractions so that multiple people can own it. NFTs are by their nature unique and not fractional, it cannot be in multiple wallets at once. The slicer locks the NFT in a smart contract and gives the owners "slices" of it that represent the ownership. The more slices you have, the more of the NFT you own.
  • Token Blender: This is a tool that makes it easy to create a new token by blending multiple existing tokens in a selected ratio into a new token.
  • Fire Pit: This is a free to use public burn account, which is an address where token holders or apps can send tokens to permanently destroy them.

This are all useful tools, especially for developers of new projects who want a third decentralized party to hold the funds of their project, so that their users don't have to worry about getting rug pulled.

Crunchy has two native tokens: CRUNCH and crDAO.

CRUNCH is an utility token and will be used to pay for services or to get lower service fees, some services can require that the user holds a certain amount of CRUNCH in their wallet to be available to them. There is a max supply of 100,000,000 CRUNCH.

crDAO is the governance token of Crunchy. The holders can vote on changes to the platform. The value of voting rights for a DeFi app depend on how much liquidity is locked in its smart contract, so it will grow in value if the platform does too. There is a very small max supply of 12,000 crDAO.

You can buy both tokens on Quipuswap if you have the Temple Wallet installed and own some XTZ. crDAO can also be earned on the farm section of Crunchy by staking XTZ/CRUNCH liquidity pool tokens there, but only until the 25th October 2021.



Some of the farms on Crunchy


Alien's Farm

This is a DEX that is being built by the same people that created the Magic Button game on Tezos. Currently it only supports yield farming for its native governance token called PAUL (named after that alien movie). Alien's Farm is far from being finished, even the AMM that will make it possible to swap coins and tokens is still being tested right now. In the future it will also have an NFT marketplace and a Vault tool that makes it possible to automatically reinvest your profit.

You can earn PAUL by staking Quipuswap liquidity pool tokens for PAUL/XTZ, MAG/XTZ, QUIPU/XTZ and crDAO/XTZ or by staking only PAUL. It will be used for governance and for rewarding liquidity providers. There is no supply cap for PAUL and it is inflationary, but there are some deflation mechanisms. The amount of new PAUL tokens that users earn becomes smaller and smaller over time and the baking rewards that the XTZ in the liquidity pools receives is used to buy PAUL and burn it.

This project is clearly a moon-shot because not even the exchange is finished, but you can earn PAUL tokens as an extra reward if you provide liquidity on Quipuswap. So why not earn some?



The staking pools for PAUL tokens


I will likely make more posts like this one, so follow me if you want to learn more about DApps on Tezos.




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