Honeycomb Stage 6
At the end of Stage 5, “Garbage Can” has collected 346 $HONEY at the time of composing this medium post, making actual circulation to be 11,854 $HONEY.
Honeycomb
Date of implementation: Est 16 Dec 20, 21:00, GMT+8 timezone
Block height: From #11464400 (See Countdown)
Time Period: Est 2 weeks
3.6% of total supply, linearly distributed
- 3,420 HONEY to be farmed
- 180 HONEY team dev fee
Pools:
UNI-V2 LP Pools (Retrieve LPs by depositing into the respective pools on Uniswap):
- HONEY : ETH (4x)
- HONEY : USDC (2x)
- COS : USDC
hTokens Pools (Retrieve hTokens by participating in Honey Jar):
- hUSDT (ERC20) (2x)
- hUSDC (ERC20) (2x)
- hDAI (ERC20) (2x)
Asset Pools (Simply deposit any of the following cryptos into Honeycomb):
- HONEY (3x)
- yUSDT (2x)
- WBTC (2x)
Honey Jar
Honey Jar automatically farming the highest yield available from the various De-Fi protocols, and optimizes the yields using the latest farming techniques for stablecoins such as USDT, USDC and DAI.
Refer to Stage 5 for details on how to farm $Honey via Honey Jar, fees and withdrawal process.
How to maximize Honey farming?
- Deposit USDT in Honey Jar, receive hUSDT & deposit them into Honeycomb, generate 2x Honey!
- LP: Using Honey generated, coupled with ETH, be an LP on Uniswap and deposit HONEY : ETH UNI-V2 LPs into Honeycomb, generating 4x more Honey!!!
- Non-LP: Deposit Honey generated from the prior step back into Honeycomb, generate 3x more Honey!!!
VERY IMPORTANT : Withdrawal for Honeycomb
In order to control the circulation of existing HONEY, ALL mined HONEY (including yield from prior stages) will not be automatically withdrawn from the system upon “Deposit” or “Withdraw”. Instead, users will have to withdraw HONEY manually. Upon any HONEY withdrawal request, worker bees will be subjected to either
- A: Timelock for 72 hours before they can do a 100% withdrawal, OR
- B: Immediate withdrawal, but will only receive 60%. The remaining 40% will be destroyed.
Common Questions
Is Honey Jar Audited?
- Security is important to us and we have reasonably tested that everything works on the testnet. The contracts are all available at https://github.com/HoneyFinance.
- Honey contract for farming is unaudited, so please read through the contract before putting your LP tokens at stake!
Everything is in BETA, please use at your own risk.
Who is planning for the strategic execution of Honey Jar?
- Currently, the Honey team, who are very willing to interact with the community if you have a better plan for discussion.
Why is hToken balance fluctuating?
- Your hToken carries a conversion rate to the underlying asset you deposited. This conversation rate increases with every successful harvest and decreases with every event that may affect prices and liquidity of the Token Pools.
To farm Honey, visit https://myhoney.finance/
Twitter: https://twitter.com/myHoneyFinance
Discord: https://discord.gg/uVFuK6x
