Layer2 Post-Mortem
START OF LAYER 2
The layer-2 farm had a rough start. We initially set the farm to start at block #17800000. But due to a logistic delay, if we had launched on schedule, we would have no time to market before the launch. So we decided to postpone the start block to provide a few days of buffer for advertisement. Unfortunately, there was a bug in the smart contract. The farm still started on our original time, block #17800000. We had zero marketing before launch. It was a disaster!
The team did 4 things within 12 hours to mitigate the problem:
- apologized to our community and provided full transparency on the issue.
- funded two dividend pools with $12000 worth of USDT.
- put up an advertisement banner on the BitMedia network
- fixed the start block bug in future smart contracts
As a result, the token price held up relatively well during the farming period.
END OF LAYER 2
Because there’s a 30-day gap between layer-2 and layer-3, the community voted to set up a KEGG dividend farm where yield farmers can stake their KEGG to earn more KEGGs. Dev fees collected from Aug 20th onwards will not be burned. A total of 800 KEGGs will be put in a dividend pool that runs from the end of Layer 2 to the start of Layer 3.
DApp Development
Also, to provide native farm tokens with long-term values, the team is in the process of building a DApp that takes existing and future farm tokens as payment options. We’ll release more details on this when we are further in the process.
About PolyQuail
PolyQuail Finance is a yield farm on the Polygon blockchain. Its most distinguishing feature is “layered farming.” In layered farming, yield farms launch sequentially in layers; each layer features a low emission rate, low supply native token, which can be staked free of deposit fees in all future layers. The layered structure is designed to stabilize the native token’s price. Each native token is a cash flow generating asset that earns current as well as future tokens for free. Native tokens tend to become more valuable over time as the dev team continues to innovate. The dev team also actively hands out generous dividends to token holders, keeping farm yields at attractive levels for longer durations.
