Cross-chain yield farming platform CROP Finance is launching an Initial DEX Offering, or IDO, on June 4th. Its native $CROP token is both BEP-20 and ERC-20 and will be available on the popular ZeroSwap decentralized exchange with a limited supply of 500 million. $CROP allows holders to participate in the network’s governance.
The platform lowers the barriers-to-entry for investors who wish to participate in yield farming. This practice is common among DeFi investors who maximize the returns on their digital assets by locking them into different protocols in exchange for periodic rewards. As explained by the team, CROP Finance automates these strategies, minimizes risk through diversification, and saves users 99% on gas fees, in order to make DeFi more accessible.
CROP Finance has extended this democratic approach to its token launch by choosing the IDO model. This approach circumvents the need for a private sale where a small group of investors purchase the token for a lower price to then quickly resell it for a premium. Here, all investors have an equal opportunity to participate and have access to immediate liquidity. The project will also be giving away $3,000 worth of $CROP tokens to celebrate the launch.
“We’ve chosen the IDO model for our token launch because it fits into our goals of making DeFi easier for everybody. The team and I believe this approach, along with strong interoperability, will define the space as it continues to grow. It’s time we leave behind private sales and centralized exchanges.” – CEO Hashim Shubbar.
Besides the IDO, the CROP Finance team has shared other important announcements. It recently partnered with Black Dragon, a decentralized fundraising platform with its own in-house marketing, development, and research.
About CROP Finance
CROP Finance is an automated yield farming platform that uses artificial intelligence to get users the best risk-adjusted returns. It is fully interoperable with Ethereum and Binance Smart Chain and relies on its CROP governance token to be a community-owned protocol.
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Release ID: 21330