Pea Farm - Stake Farming on Cardano

We’re excited to announce the Pea Farm and its concept of Stake Farming. In anticipation of multi-asset support in the upcoming Goguen era, delegators can earn the native asset PEA for staking with our pool. The supply has a fixed hard cap with an issuance rate of 1% per epoch. Revenues from our stake pool allow us to fund operations and development without allocating any founder rewards - 100% of the PEA supply is distributed fairly to stake holders.

Check out our site peafarm.io for the latest news and a live overview of the current PEA distribution. Get in early while shares are still high :smiley:

What value does PEA represent?

a few examples:

#1 collectible as one of the first tokens running on Cardano
#2 means to drive adoption and experiment with the Goguen multi-asset standard
#3 exploration of use-cases for SPOs to interact with delegators and provide additional value
#4 creation of open source code useful to other developers and SPOs
#5 no downward pressure on price from premine dumping founders, inevitably leading to #6
#6 massive, generational wealth for PEA holders

Sorry to say but as a delegator, none of these points would make me want to hold PEA tokens.

But here is what might: A promise from your pool to buy back the tokens for ADA after a certain time. The more time has passed since minting a token, the more ADA you would pay out. That way you could reward long-term delegators, effectively reducing the fees they pay as they continue staking with your pool. You could even adjust the buyback price as a function of some metric, for example the total delegated stake. This would create an economic incentive for delegators to leave the pool as it approaches saturation, thus benefiting both delegators who leave and those who stay.

In the current market there is no way I would delegate to a pool that charges 5% fees. However, if that fee effectively reduces to close to zero as I keep staking with you, I might be interested.

One more thing: #5 does not “inevitably” lead to #6 because as long as there is no market for PEA tokens, #5 is trivially true and if there is no market there can be no wealth. If you create a market by buying back tokens, you can make it so that the value of a token increases over time.

Thanks for the feedback! We’re looking into various ways to increase the PEA value and having some form of buyback is definately on our list for further examination. Will depend on how well it can be built into the smart contract trustlessly.

Agree to disagree on the inevitable massive wealth, TBH we have a hard time imagining a future where PEA is not the global reserve currency.