$SEASY Community Farming Explained

2 min readMar 10, 2022

What’s this “Community Farming” thing about and what’s in it for you? We’ll find out in this post.

Simply explained, Community farming is an opportunity for Community members and StakeEasy users to become an early backer of the protocol and help push the limits of Staking experience to the next level. At StakeEasy, we have the goal of providing everyone with a simple, robust and feature rich staking experience and that not just for Secret Network users but for the whole of Cosmos.

Below we’ve outlined the what why and when of Community farming.

What

There are 6 million $SEASY tokens (3% of total supply) for the Community farming.

When you stake your $SCRT to StakeEasy, there is roughly 27% APY at the time of writing this article. The amount of $SCRT generated from staking rewards can swapped with $SEASY tokens and optional for users, you can opt out if you want.

The $SEASY will be given in exchange of $SCRT staking rewards in 3 phases:

Phase A: 1 $SCRT -> 14 $SEASY, 3 weeks

Phase B: 1 $SCRT -> 12 $SEASY, 3 weeks

Phase C: 1 $SCRT -> 10 $SEASY, 3 weeks

Participation in the Community farming can be done by depositing the $seSCRT tokens to our Community farming contracts. More details on how to participate will be shared in an upcoming blog post.

The $SEASY tokens earned from the farming will be vested for 18 months and will dispensed in equal parts each month. The vesting will start at the end of Community farming period, ie, 27th May.

Why

The purpose of the Community farming is to allow our users to become holders on our governance token and also to accumulate liquidity for the $seSCRT/$SCRT pair on DEXs such as SecretSwap, SiennaSwap and ButtonSwap. The holders of $SEASY token will also be able to accrue platform fees as 50% of the fees will be sent to $SEASY holders, the platform will buy $SEASY from market and will be given to $SEASY stakers.

The liquidity pair $SEASY/$SCRT will also be listed on these exchanges sometime after the Community farming period ends. More details on the listing of these 2 pairs on DEXs will also be shared soon.

80% of $SCRT liquidity generated from the farming will be used for providing liquidity to DEXs and 20% will be used for future growth initiatives of the protocol.