Letter from a Founder
Dear Yield Farming Community,
Greetings! I'm Daddy Ape. I have been a mainstream investor since early 2013-2014, and it now constitutes an unhealthily large percentage of my personality. As an investor, I was fascinated by the concept of compounding interest and the ability to build wealth exponentially through a series of ongoing, monthly contributions over a long period of time. However, I was foolish not to realize early enough that fund managers are primarily focused on generating their fees, regardless of how much money we gain or lose through our investments with their firms. This fact, coupled with the ever-increasing rate of inflation of the global money system caused me to question whether the "traditional money system" we put so much trust in, will ultimately fail us. That's when I discovered Bitcoin. A decentralized, community-driven initiative that has the potential to completely replace the foundation of money itself.
With Bitcoin, we now have a real-time, cross-boarder transfer system, ever-growing security verification, and most importantly a fixed supply of 21 million coins creating a deflationary system that mathematically increases in value over time. Amazing right? Except that Bitcoin has increased in value so much recently, the average person cannot afford a single coin. So average people can and usually do buy just fractions of a Bitcoin because of the expense ratio.
I wanted to go a different route so I started mining Bitcoin, and I realized that I had found an incredible source of passive income, just for lending my computer power. In fact, it's been so profitable that I have surpassed all my traditional asset classes in terms of income value and ROI, in less than a year. But again, not everyone can do this because you need expensive specialized hardware called Asic miners that consume incredible amounts of electricity and need to run 24/7, only to generate fractions of a coin.
That's when we realized there was a significant problem that needed solving. If we are in fact going to depend on this base layer monetary system as an intrinsic store of value for the long term, we needed to find a way of putting it in the hands of more people without the significant cost of hardware and electricity (environmental impact). That's where DEFI (Decentralized finance) comes in. Since DEFI has grown in popularity over the last 12 months, we realized that's where our solution would be. But what would we do differently? We would need to create a safe space for investors. We would need to create a system that rewards investors with Bitcoin automatically, and passively so that their ability to own more BTC is significantly increased. We would need to eliminate the active element of yield farming, so that investors can have their money auto-compound over time, and never have to look at their screens and monitors to harvest and reinvest their yields. So we created Don't Ape This!
I concluded that the steps to address these problems with a new farm would be quite straightforward. But we went a step further and created a system that works just like a farm without the need for staking anything. By simply holding our token, users would "farm" or "mine" Bitcoin passively! Instead of running away with the deposit fees, we can spend a large % of them on buybacks/burns/Liquidity. Instead of having a “fair launch” that is overrun by bots or a tiny initial supply that fails to protect early liquidity providers, we can constitute a larger early liquidity pool by having a small, exclusive presale. Especially in light of the general lack of good farming opportunities available, these steps combined with a highly aggressive marketing approach seem likely to create an excellent farming experience for everyone involved. We decided to call our project Don't Ape This and decided on the theme to represent the average DEFI investor, with a twist - By "aping" this, investors actually win for a change.
Zooming out, before deciding to release Don't Ape This, my co-creators and I had been working together for months designing some revolutionary features that will now be implemented in the near future.. one of which is a revolutionary bridge that allows users to transfer BSC Bitcoin assets onto the Bitcoin blockchain, and vice versa... in addition to exciting farming opportunities on our layer 2 systems. We can’t wait to bring you these features, but we decided that it would be best to introduce ourselves to you on a smaller scale initially. We want to prove our trustworthiness and gain a following so that the extreme advantages of our future technology and features can reach the proper audience.
Thank you for considering joining us on this journey. We really appreciate your participation!
Best Regards,
Daddy Ape
Last modified 4mo ago
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