Crypto Wine with Grap Finance
Grap Finance was born as a fork of Yam Finance, a DeFi farming platform, fixing the notable rebasing bug found in YAM token. Users can stake Uniswap LP tokens for enabled pools on Grap Finance, to earn rewards in GRAP tokens. GRAP has a supply that adjusts every day according to demand in the marketplace. Each day the token’s rebase operation checks the 24-hour volume-weighted average price and compares it to the target price. With the target price being the US Dollar if the price is above the target then supply increases. If the price is below, then the supply will decrease.
What is Crypto Wine?
The development team quickly realized that DeFi platforms were innovating fast, and with the rise of copycat protocols, Grap Finance did not look very unique. At the same time, the crypto art and collectibles sector is growing at an extreme pace. Taking their theme around grapes, the platform added a way to farm non-fungible tokens (NFTs) called Winemaking.
A lossless investment… Crypto Wine should be seen as a new cultural experiment. Users can obtain Crypto Wine by providing GRAP liquidity on Uniswap and staking their LP tokens. The process earns the user tickets, with 1000 tickets required to draw a new wine (full guide).
- Crypto Wine is an ERC-721 token, meaning it is a unique collectible compatible with NFTs trading platforms such as OpenSea or Rarible.
Gamification… when Crypto Wines are mined or traded, processing fees go into the platform’s prize pool. The prize pool is used to reward the artists and also top players, where rankings are decided by several factors such as the amount traded or rarity of the crypto collectible created.