ScareCrow Financial Review: Features, Roadmap, Tokenomics


ScareCrow Finance is a yield farming and yield aggregator protocol that runs on Fantom . Despite its Halloween-like branding, ScareCrow seeks to help investors earn more from safe and sound yield farming .

The yield farming sector has been booming since the DeFi Craze of 2020 . For example, thousands of protocols aim to help cryptocurrency holders earn passive income from their assets. However, with most of them, they are mostly the first to get the biggest loot. As a result, many newcomers miss out on significant ROI.


Fortunately, some new yield farming protocols plan to change this trend. One of them is ScareCrow Finance, and in this short review, we take a closer look at its features, potential, and roadmap.

What is ScareCrow Finance?

Scarecrow Finance is focused on providing a secure and stable farming platform for crypto-yielding farmers around the world. The project is still in its early stages. However, it seeks to build a loyal community with access to great profits in the long run.

The platform has two native tokens, SCARE and SCAREG. The former will provide the initial liquidity in SpookySwap , Fantom’s DEX bridge. Additionally, it will allow liquidity providers to use it across numerous ScareCrow pools. They can pair it with other tokens, such as FTM, USDC, wETH, and DAI.

On the other hand, SCAREG will reward its holders with governance powers. In addition, those who obtain it will be able to exclusively farm the incentive vaults of the future. In addition, they will have a voice in the decision-making process of the farm.


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Farming with ScareCrow Finance started on October 19. Before its inception, users could deposit their tokens in any pool or farm on the platform. However, they only received their rewards after farming took off.

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ScareCrow Finance Features

ScareCrow Finance has a growing list of features that should help your farming community grow rapidly and prosper. Some of them include:

farming

Anyone can stake their SCARE tokens in ScareCrow Finance ‘s liquidity pools and earn rewards. According to the ScareCrow App , liquidity providers can choose from over 30 pairs and pools, including:

  1. SCARE-FTM LP (PAR LP) 0% Deposit Fees (NATIVE)
  2. SCARE-USDC LP 0% Deposit Fees (LP PAR) (NATIVE)
  3. SCARE 0% Deposit Fees (SINGLE GROUP) (NATIVE)
  4. USDC-FTM LP 2.4% Deposit Fees (LP PAR)
  5. wETH-FTM LP 2.4% Deposit Rates (LP PAR)
  6. Deposit fees of 2.4% wFTM (SINGLE POOL)
  7. wETH 2.4% Deposit Fees (SINGLE POOL)
  8. wBTC 2.4% Deposit Fees (SINGLE POOL)
  9. wBNB 2.4% Deposit Fees (SINGLE POOL)
  10. USDC 2.4% Deposit Fees (SINGLE POOL)

stake out

Alternatively, SCARE holders can stake their tokens in some pools with 0% deposit fees, such as:

For higher profits, they can also SCARE stake in groups with 2.4% deposit fees. Among them are:


Incentive Vaults

This feature allows SCARE holders to stake their tokens commission-free. In exchange, they can get rewards in tokens of their choice. Additionally, Incentive Vaults will have start and end timers.

Auto Compose Vaults

SCARE holders can also use ScareCrow’s auto-compose pool vaults of singles and LP pairs. So far these include vaults on YieldWolf and Shadow Finance .

ScareCrow Finance Tokenomics

The developers of ScareCrow Finance have released SCARE without a pre-sale event. Additionally, they pre-minted 2,000 tokens for initial liquidity on SpookySwap . The initial listing price was $0.5 DEV, which they eventually burned. Finally, they divided the initial amount into:

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1000 SCARE – ($500 FTM)


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1000 SCARE – ($500 USDC)

So far, the community has set a maximum supply of SCARE to go into circulation at 80,000 tokens. Also, each block will have 0.015 emissions and the protocol will automatically burn 10% of them to maintain the SCARE price.

Most importantly, the developers of ScareCrow Finance will not hold or sell any native SCARE tokens. This way, they will not be able to manipulate the price in any way.

At the time of this writing, SCARE had a Total Value Locked (TVL) of $40,794,789.17. Its market capitalization was $7,596,948 and it had a circulating supply of 20,266 units. Lastly, the platform had minted over 22,100 SCARE tokens and burned 1,836 of them. One SCARE was selling for $414.29 .

SCAREG

SCAREG is the native governance token of ScareCrow Finance. It will only provide users with decision-making power on the platform. Also, they will not be able to buy it anywhere outside of the ScareCrow farm .

The project will provide SCAREG holders with a single vault for safekeeping. Here, they will be able to stake their SCARE tokens and get SCAREG in return. They can then get SCAREG to farm future Incentive Vaults.

The best part is that users cannot lose their SCARE tokens this way. Also, they can sell it or sell it while farming SCAREG tokens in the incentive vaults.

How safe is ScareCrow Finance?

ScareCrow Finance aims to guarantee its users the transparency and security of the protocol. In this sense, it has recently obtained an audit report from Solid Proof , an expert company in the industry. You can find the report here .

In addition, users can automatically withdraw their funds in case of emergency. If something goes wrong, they can use Rugdoc, a tool the platform uses for extraordinary circumstances. Through it, token holders can quickly recover the funds they previously allocated to the platform’s masterchef.

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ScareCrow Finance has already listed their project on reputable industry resources such as Coinmarketcap and CoinGecko .

Lastly, ScareCrow Finance has already established strategic partnerships with other projects in the industry. Among them are OliveCash, Fantom Cougar, PumpKins Farm, Grim Finance, and more.

final thoughts

ScareCrow Finance plans to make yield farming safer and more profitable for everyone. According to its road map , the project has achieved most of the objectives it has set for itself so far. Next, they just have to launch the second layer, keeping SCARE as a massively rewarding core token. In addition, they will have to officially implement the platform’s governance token, SCAREG. Only time will tell how quickly and effectively this process will unfold.

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