Welcome Farmers
Last updated
Last updated
MelonFarm is a fully decentralized elastic stablecoin protocol built based on the Ethereum ecosystem - run on the Base Blockchain.
Base blockchain is one of the fastest growing layer 2 blockchains built with OP Stacks, as well as the Ethereum ecosystem. It offers low-gas fee transactions and a wide range of DeFi applications and liquidity.
MelonFarm forms the new monetary for the new economy of the Ethereum ecosystem, permissionless, freedom, powered by the native currency, a stablecoin called Melon.
A stablecoin that lives on the decentralization infrastructure and doesn't require collateral or backing assets, trends toward more stability and liquidity, will unlock the potential of DeFi, and open the new economy system.
MelonFarm's primary objective is to incentivize independent market participants to regularly cross the price of 1 Melon over its dollar peg in a sustainable fashion.
The idea behind MelonFarm was inherited from the original Beanstalk idea with many improvements objective decentralization, expansion, and adoption.
We believe that upgrading smart contracts via the governance voting process is risky and not fully decentralized, it may have bugs and manipulations.
MelonFarm smart contracts are immutable, non-upgradeable, and non-governance. MelonFarm codes can not be changed once they are deployed on the blockchain.
There is no way for governance upgrades that carry malicious actions or codes in the future.
We at MelonFarm focus on expanding Melon liquidity across multiple blockchains and ecosystems, starting with the Base blockchain. By increasing Melon liquidity, Melon will be more liquid, less slippage, and more useable across DeFi products. We consider this as the primary objective that needs to be done.
Base blockchain is low-fee, EVM-compatible, and has a growing DeFi ecosystem. We believe that it will become the core layer for onboarding billions to grow the DeFi system.
Behind the success of any currency, there are ecosystems and utility systems that utilize it, increasing the demand. We believe that the supply-on-demand idea works every time, and we will make it work with MelonFarm. We will build more products and utility systems that increase the demand for Melon stablecoin, and the supply will follow.
