EGG meaning in Cryptocurrency ?

Answer: What Is Goose Finance (EGG)?

Goose Finance (EGG) is a second-generation yield farming mechanism that allows perpetual price increase with a sustainable and profitable farming yield and a timelock contract. It launched in February 2021.

Goose Finance is trying to solve the issue of significant market fluctuations in decentralized finance (DeFi) caused by users entering and exiting it with large sums of money. The unique burning mechanism works as follows: all of the farms take 4% burn when users stake. Of that, 3% is used to purchase the Golden Egg token which is then sent to the lottery pool and 1% is used to continue the development of the platform.

To prevent the issue of rug pulling, Goose Finance has removed migrator code, as inherited from PancakeSwap, and timelock was applied at launch.

Who Are the Founders of Goose Finance?

As of March 2021, the team behind Goose Finance remains anonymous.

What Makes Goose Finance Unique?

Goose Finance (EGG) is a layered farming incubator. Goose Finance launches new farms every 14 days, which users can enter perpetually, helping solve the inflation issue. One new layer token — Layer “X” Goose — spawns every 14 days, proceeding in two ways.

Initial DEX offering (IDO) happens one to three days before layer farming starts and the conversion of IDO is set at 1:3. All of the pledged layer 0 eggs are then burnt. The initial liquidity price of the layers is set at around 2x of the price of the IDO.

The other way is to pledge layer 0 eggs into a nest that cannot unstake and generates Layer “X” Goose forever.

There’s also the omega lottery burning mechanism, where all farms have a 4% burning fee per stake, 3% of which is used to purchase Golden Egg and inject it into the lottery pool. 20% of the lottery pool — known as the burning fee — as well as the lottery ticket costs, are burnt.

The EGG token is a BEP-20 token that runs on the Binance Smart Chain.

Related Pages:

Read more about eBoost.

Read more about OMG Network.

Learn how to gift someone crypto on CMC Alexandria.

Enhance your knowledge of cryptocurrencies with the CoinMarketCap blog.

How Many Goose Finance (EGG) Coins Are There in Circulation?

Goose Finance (EGG) has a circulating supply of 1,089,885 EGG and no maximum supply data is available as of March 2021.

How Is the Goose Finance Network Secured?

Goose Finance attempts to create a cleaner environment for people to farm yield. They have removed the migrator backdoor found in PancakeSwap and SushiSwap (SUSHI).

The team behind it is prevented from mitigating assets by the code, ensuring the safety of the funds. Timelock was also added to the contract at launch.

Where Can You Buy Goose Finance (EGG)?

Goose Finance (EGG) can be traded on the following exchanges:

PancakeSwapOpenOcean

Learn more about how to buy Bitcoin and other cryptocurrencies by reading CoinMarketCap’s dedicated guide.

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