Rabbit Finance

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Rabbit Finance is a mining super profit protocol that supports 10x leverage

introduction

Rabbit Finance is a Binance Smart Chain (BSC) protocol developed by Rabbit Finance Lab. It supports users who are engaged in growing liquidity through excessive borrowing and leverage to generate more profits.

When users do not have sufficient funds, but wish to participate in DeFi’s liquidity growth, Rabbit Finance can provide leverage of up to 10X to help users maximize revenue per unit of time, while at the same time providing a pool of loans for preferred users. stable profit. to make a profit.
Strength and vision

Rabbit Finance fully utilizes and utilizes projects in the market, utilizing excessively leveraged agricultural products with the benefits of Alpaca Finance and Badger Finance, creatively incorporating an algorithmic stablecoin mechanism to empower RABBIT tokens. Across the economic ecology of Rabbit Finance, the RABBIT token, endowed with a large number of application scenarios, represents not only the right to manage and the interests of the leveraged agricultural protocol, but also the rights and shareholder interests of the RUSD stablecoin algorithm. … Whenever the RUSD experiences inflation, members who stake R tokens in the meeting room will distribute additional RUSD as dividends to share the benefits of green growth.

Rabbit Finance believes the leveraged crop cultivation platform will be the next killer app in the DeFi space after a decentralized exchange and lending platform. The stablecoin algorithm is also believed to be the final Holy Grail in the DeFi realm. They are and will be the most important infrastructure in the DeFi world.

How to Participate?

1. As a user, you can participate in Rabbit Finance in four different ways:

  • Lenders: Rabbit Finance allows you to earn income on your basic assets by depositing them in our vaults. These assets will then be offered to yield farmers to increase their position.
  • Farmers: As a farmer, you can get higher yields by opening a leveraged position with Rabbit Finance. Of course, this comes with a bigger risk: liquidation, variable losses, etc.
  • Liquidators: Monitor ponds for underwater positions and liquidate them when they become too risky.
  • Bounty Hunter: Prize hunter in pool and execute reinvestment, 30% of bounty pool is used as buyback fund to promote token value. For this service, he takes 0.4% of the bounty pool as a reward, the remaining 69.6% will be converted into pool LP and promises again to get a combined return.
    At launch, we will support the two basic assets of BNB and BUSD, and integrate our leveraged farm with PancakeSwap.

2. In the example below, we show how each participant works together in our ecosystem:

  • Cora, the lender deposits his BNB in ​​our safe; the assets are available for borrowing by the yield farmers; he earns interest for providing this liquidity.
  • Dunn, the yield farmer wants to open a leveraged yield farm position in the BTC / BNB pair; he borrowed BNB from the vault and enjoyed higher yielding agricultural produce.
  • Rabbit Finance smart contracts handle all the behind the scenes mechanisms optimally transferring assets to the right ratio, providing liquidity to the pool, and staking LP for Pancake Rewards
  • Gary, the liquidator monitors the health of each leveraged position, and when it goes beyond the prescribed parameters, he helps to liquidate the positions, making sure the lender doesn’t seem to lose his capital. For this service, he takes a 5% reward from liquidated positions.
  • Bounty hunter James keeps track of the amount of bounty earned in each batch and helps reinvest it, combining returns for all farmers. For this service, he takes 0.4% of the prize pool as a reward. 30% as buyback funds, which will be used for RABBIT buyback and deflation. The remaining 69.6% will be converted into LP from the pool and guaranteed again to get multiple returns.

Rabbit Finance’s vision is to become the Federal Reserve of the DeFi world, based on the principles of equal opportunity and commercial sustainability, and to provide appropriate and efficient financial services at affordable costs for all people from all walks of life and groups in need of finance. services. Rabbit Finance is not a simply leveraged crop growing platform or an algorithmic stablecoin system. It will be a decentralized and inclusive financial services infrastructure with the possibility of sustainable hematopoiesis, based on blockchain technology. Compared to the same role as the Fed, what Rabbit Finance expects goes far beyond the Fed’s role in the global economy.


Rabbit Finance Strategy employs a strategy that works to achieve the highest possible yield for our farmers. We also want our users to have a better experience with our platform. That’s why we’ve simplified the leveraged farming process by automating a lot behind the scenes.

Here are some of our key features to increase usability:
Flexible Deposit Options: Our vault optimally converts your stored assets and takes advantage of BNB or BUSD to get an equal distribution of value to provide a pool of liquidity for farms. So, for example, for a CAKE / BNB pool, you can deposit any amount of CAKE and / or BNB to start farming without doing the conversion yourself.

Auto Bid: Our code automatically stakes LP tokens on the platform of your choice (PancakeSwap, etc.), so you can start earning prizes right away.
Continuous Interest: Bounty hunters keep track of the amount of gifts collected in each batch and help all farmers to reinvest them. Our smart contracts can sell your prizes (CAKE, etc.), convert them into LP tokens for the batches you grow, and combine them with your farming principles so you can get the most out of your APY.

Get RABBIT Rewards Anytime: By opening a leveraged harvest position, you will receive a bonus prize which you can claim anytime on the betting page.

To know about the specific strategy of each farming pond, please refer to the diagram below.

Take CAKE-BNB as an example to illustrate

Liquidation
If your debt ratio exceeds the Kill Factor, your position will be liquidated.

The amount you get back after liquidation will depend on the homicide factor. Please see the table below for an estimate

Kill Factor – Rewards for Liquidation of the Base Estimated Value of Returns to Farmers

80% CAKE-BNB 5% ~ 19% of debt costs

83.3% BTCB-BNB 5% ~ 16% of total debt

ETH-BNB
BNB-BUSD
BNB-USDT
USDT-BUSD

96% DAI – BUSD 5% ~ 3.5% of debt cost


USDC-BUSD example:

Dunn opened a position to grow crops with 2x leverage in the CAKE-BNB pool.
He bet 10 BNB
Vault we loaned him 10 BNB
Then we optimally exchanged BNB for CAKE and bought LP tokens for him.

Currently, the position is ~ 20 BNB (in fact, it will be slightly lower due to the impact on swap rates and trading fees).
Debt ratio ~ 50%.
Soon…

The price of BNB has increased significantly so that Dunn’s position is getting smaller in the perspective of BNB. This is due to the fact that the LP pool will try to maintain the same value of the token pair, as a result of which there will be more CAKE and less BNB in ​​position.

Unfortunately the price of BNB continues to rise so that the debt ratio reaches 80% (Kill Factor), and the liquidation bot is called a smart contract to close its position.
Currently the position is around ~ 12.5 BNB.
10 BNB will be used for loan repayments
0.125 BNB (5% of the remaining 2.5 BNB) will be paid to the liquidator as a reward.
2,375 BNB will be returned to the user

To make this example easier to understand, note that this example ignores the impact of crop rewards and trading fees, which can increase the value of Dunn’s position and make his position safer. It also ignores the interest rate on the loan, which increases the cost of debt by increasing the debt ratio.
Global parameters

Parameter – Value – Description
Minimum amount of debt BNB – 2 BNB

The minimum amount in BNB a user can borrow to open a leveraged position

Minimum amount of debt BUSD – 400 bsd

The minimum amount in BUSD that a user can borrow to open a leveraged position

The minimum amount of debt USDT – 400 USDT

The minimum amount in USD that a user can borrow to open a leveraged position

Minimum DAI debt – 400 DAI

The minimum amount in DAI that a user can borrow to open a leveraged position

Debt USDC minimum – 400 USDC

The minimum amount in USD that a user can borrow to open a leveraged position

Minimum CAKE debt – 30 CAKE

The minimum amount in CAKE a user can borrow to open a leveraged position

The minimum amount of BTCB debt is 0.01BTCB

The minimum amount in BTCB a user can borrow to open a leveraged position

Minimum amount of debt in ETH – 0.2ETH

The minimum amount in ETH a user can borrow to open a leveraged position

Proposal acceptance rate – 20%

The percentage of loan interest paid to the pool of reserves. Half for the redemption and burning RABBIT

Liquidation bonus – 5%

Call the cleaning function to clean the customer

Bounty for reinvestment – 0.4%

A person who performs a reinvestment function to maximize user benefits.
Percentage = m * usage + b

Pool parameters

The table below describes the specific parameters for each batch:

Employment factor: Maximum debt ratio when opening a position.

Kill Factor: Maximum debt ratio above which anyone can liquidate a position.
Platform – Pool – Work Factor (Leverage) – Kill Factor

Pancake – CAKE-BNB: 60,00 ％ （2,5x） – 80,00 ％
pancake – BTCB-wBNB: 66,67 ％ （3,0x） – 83,33 ％
pancake – ETH-wBNB: 66,67 ％ （3,0x） – 83,33 ％
pancake – BNB-BUSD : 66.67 ％ （3.0x） – 83.33
pancake – BNB-USDT: 66.67 ％ （3.0x） – 83.33 ％
pancake – BUSD- USDT: 90.00 ％ （10x） – 96.00 ％
pancake – BUSD-DAI: 90.00 ％ （10x） – 96,00 ％
pancake – BUSD-USDC: 90,00 ％ （10x） – 96,00 ％

Operation and kill factors can be adjusted over time to balance risk and reward for all users on the Finance platform. Additionally, when the core developer sets initial values, the management community can vote on changing these parameters in the future.
Pool address

Pancakes ： CAKE-wBNB
Pancake ： BTCB-wBNB
Pancake ： ETH- wBNB
Pancakes ： BNB- BUSD
Pancake ： BNB -USDT
Pancakes ： USDT -BUSD
Pancakes ： DAI -BUSD
Pancakes ： USDC -BUSD

What are RABBIT tokens?
The RABBIT token is Rabbit Finance’s governance token. This will also allow for the economic benefits of the protocol. Maximum 200 million R tokens.
What are the RABBIT tokens for?

1. Management protocol

We will soon be launching a management vault that will allow community members to host their RABBIT tokens. RABBIT Stakers will receive xRABBIT, where 1 xRABBIT = 1 vote, which will allow them to make decisions about key management decisions. Initially, management decisions will be made on Snapshot.

2. Get economic benefits from the platform

Rabbit Finance Protocol users (depositors and borrowers, i.e. lenders and farmers) will be given RABBIT tokens for their deposit and loan actions. The Rabbit Finance platform will create a buyback fund from its income which will be used for deflation and increase the value of the RABBIT token. When profits are reinvested, 30% of this amount is used in the RABBIT buyback fund. 20% of the depositor’s interest income is used as a market development fund. All of this will help increase the demand for and value for KELINCI.

3. Receive economic benefits from the RUSD, RBTC, RBNB, etc.

The RABBIT token is a shareholder rights token of the stablecoin algorithm RUSD, RBTC, RBNB, etc. Whenever RUSD, etc. Inflationary, participants who give RABBIT tokens to the meeting room will distribute additional RUSD as a dividend to share the green benefits of growth. … For more details, please see our next announcement.
Deploy the RABBIT

1. Communal pool

79.75% of the total supply, around 159.5 million KELINCI.

RABBIT will be released for two years on a shrinking emission schedule and will be distributed evenly throughout the ecosystem as a community reward.

2. Institutional collections

5.25% of the total supply, 10.5 million KELINCI

Provide investment quota of 5.25% for established organizations and investors. After the investment is complete, 245,000 RABBIT will be issued every 7 days, and 10,500,000 RABBIT will be issued in 300 days (about 10 months). The exact time will be determined, please pay attention to the following announcement.

Hard hat: 10,500,000 RABBIT = 525,000 USDT
Exchange rate: 1 RABBIT = 0.05 USDT

3. Development Fund

10% of the total supply, about 20,000,000 RABBITS

10% of the tokens distributed will be used to fund team development and expansion and will be subject to the same two-year transition as tokens from fair launch distribution.

4. Yayasan Varchest

5% of the total supply, around 10,000,000 RABBIT.

5% of the tokens distributed are reserved for future strategic spending. In the first month, 250,000 tokens were issued for listing, auditing, third party services and partner liquidity fees.
Officially launched

Leveraged farms have been launched, farmers can open positions to grow leveraged crops and receive the RABBIT prize.
When we complete the smart contract audit, we will unlock the leverage growth function, thereby completing the service cycle. Our current estimate is for the end of April 2021.
We will be making a separate announcement to the community ahead of time before the Phase 2 launch.

The bonus period lasts about one week, after the project officially starts, the Rabbit distribution plan will be updated as follows:
40% distributed to liquidity providers for the RABBIT pool on PancakeSwap
25% distributed to lenders who deposit BNB or BUSD and other tokens in our vaults – the prizes will be divided equally among the pool.
35% is distributed among users who have open positions for growing crops – the reward will be calculated depending on the loan amount; only leveraged positions (> 1x) will be rewarded

Distribution of Bases
Below is the distribution of points for each base, which determines the distribution of prizes.
Bonus period

Open deposit vaults and pancake liquidity pools, electronic mission rate: 42 RABBIT / block. This should take about a week.
Pools – RINGS / blocks

Deposit Group ： ibBNB – 2.52 Deposit Group
： ibBUSD – 2.52 Deposit Group
： ibUSDT – 2.52 Deposit Group
： ibUSDC – 2.52 Deposit Group
： ibDAI – 2.52 Deposit Group
： ibBTCB – 2.52 Deposit Group
： ibETH – 2.52 Deposit Group
： ibCAKE – 2.52
Pancake exchange RABBIT-BNB LP-21.84

To conclude

Rabbit Finance fully utilizes and utilizes projects in the market, utilizing excessively leveraged agricultural products with the benefits of Alpaca Finance and Badger Finance, creatively incorporating an algorithmic stablecoin mechanism to empower RABBIT tokens. Across the economic ecology of Rabbit Finance, the RABBIT token, endowed with a large number of application scenarios, represents not only the right to manage and the interests of the leveraged agricultural protocol, but also the rights and shareholder interests of the RUSD stablecoin algorithm.

Rabbit Finance can provide up to 10x leverage to help users maximize revenue per unit of time, while providing a loan pool for users who prefer stable income to generate profits.

Join our community

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