🍭Introducing Candy Finance — 2nd layer liquidity mining platform built on top of PancakeSwap🍭

6 min readFeb 28, 2021

Another food-themed DeFi farm?!

Yes, and this one has lots and lots of candies! It was an obsession when we were children, mostly because it wasn’t allowed to have it as much as we wanted. We used to tell our mothers; when we grow up, we will eat candy all the time! We think our mothers probably thought we’d grow out of it. But we didn’t.

Have you given a thought: What, exactly, is candy? Why would anyone care? We care a lot (and so do candivores). Candy is a preparation of sugar, honey, or other natural or artificial sweeteners in combination with chocolate, fruits, nuts or other ingredients or flavorings in the form of bars, drops, or pieces. Candy shall not include any preparation containing flour and shall not require any refrigeration. We define candy here to end a long term discussion and to clearly distinguish it from cookies, marshmallows, chocolate and ice pops. Cookies and marshmallows contain flour. Candies, do not. Chocolate is an ingredient in certain candies but not a candy in its own right. Ice pops can never be candies even they have sprinkles because they require refrigeration!

Candy Finance is a second-layer liquidity mining platform that users stake their PancakeSwap Cake-LP tokens to get their CNDY tokens as rewards. Our motivation is simple. Users already stake their tokens on PancakeSwap to get their Cake-LP tokens. Why not use these tokens to earn candies? Candy Finance is basically an investment platform dedicated to multiplying the income for liquidity providers. Our “Candies” currently has 70 multiple-pools that consist of top pairs in PancakeSwap.

Our Roots

Candy Finance project was inspired by the innovative ground broken by SushiSwap which is followed by LuaSwap, PancakeSwap, and Bao Finance. We tried to simplify them with our candied touches and DRY, KISS, YAGNI principles to create a simple protocol that does one thing well. Candy Finance only works on Binance Smart Chain because it is better than Ethereum.

Token Distribution

We distribute CNDY token that exists on Binance Smart Chain with CNDY ticker. CNDY token will be given to Liquidity Providers to incentivize them to stay with the protocol. Holding the CNDY token means holding a share in the governance of the protocol as well.

Essentially, the purpose of token farming is to distribute a certain amount of protocol tokens over time. However, over the long term, the token has value if, and only if, the protocol is valuable. This is why we don’t choose to lock tokens to keep the protocol valuable because it doesn’t work that way. We will proactively create incentives to keep the protocol valuable — make users naturally want to hold their CNDY tokens. These incentives will be sustainable qualities such as marketing, product innovation, third-party utilities, and incentives for the network effect of the community.

We are distributing approximately 275M tokens in a 2 year period. There will be 10 base CNDY tokens distributed every block. During the first 2 years, these blocks have a multiplier ranging from 0x-128x which increases the number of CNDY tokens in distribution. 2.5M CNDY tokens which is roughly 0.9% of total tokens will be issued initially. This initial issuance will be used for providing initial liquidity to the CNDY pools(0.3%), airdrops and marketing(0.3%), hiring new team members (0.3%) and team share(0.1%).

Fees

Candy Finance takes a fixed 0.5% fee on deposit to ensure the protocol can’t be used for short-term gains. For withdrawal, there is a dynamic mechanism to mitigate risks of flash loan exploits and ensure the protocol can’t be used for short-term gains. Withdrawal fee structure based on how long the user has been in the pool. This structure is as below:

0.1% fee to withdraw after 4 weeks.
0.25% fee to withdraw in 2 weeks.
0.50% fee to withdraw in 1 week.
1% fee to withdraw in 5 days.
3% fee to withdraw in 3 days.
5% fee to withdraw in 1 day.
10% fee to withdraw in 1 hour.
25% fee to withdraw within the same block.

Tweet Airdrops

Earn $1 worth of CNDY tokens every day, for every 1K users you recommend $CNDY in a tweet. Simple as that. If you have a legit account with legit 5K followers you can earn 150$ a month! Every month we will send your wallet address the CNDY tokens you earned. For details check our article for airdrops.

Governance and Development

For the system of governance, the community elects a team to manage the Candy ecosystem. That team is pre-approved to spend up to 50% of the community fund’s annual gain without any additional approval. The team will create official votes using Snapshot.

Candy Finance will improve with several additions planned for implementation. The first one is to work on integrating popular third-party tools. The community and market demand will decide on what to do next. New developments and respective budgets will be proposed via Candy Finance’s Snapshot governance platform.

Contracts

The contracts are available at these addresses‌

CandyToken: The CNDY token contract. https://bscscan.com/address/0x0885198BbC7D33c20CfF807C0701F3A74d6858b5
CandyMasterFarmer: Deposit LP tokens to farm CNDY. CNDY token is owned by CandyMasterFarmer contract. You can check on BscScan (Read Contract) https://bscscan.com/address/0x1095a7AB736910E4364bbb29782b103AFB02CaAc
Timelock: Lock every admin action for 24 hours. CandyMasterFarmer is owned by Timelock. You can check on BscScan (Read Contract) https://bscscan.com/address/0x575b8F15CB2E0A2841E045fCf62931B8C70D4093‌

All contracts are audited. All contracts are also subject to internal auditing. We will continue to do more testing, and invite professional third parties to audit the codes. If any of you think there’s an issue with the contracts, please let us know (preferably privately if it’s a severe issue) via Telegram or Discord.

Who runs Candy Finance?

Candy Finance is currently a community-powered family business. It is conceived and launched by two anonymous developers; CandyPunk and ladybug. CandyPunk is an experienced Python, Solidity and Javascript developer. Ladybug is an experienced front-end Javascript developer. Both developers have extreme passion and childhood problems with candies. Ladybug already runs a successful web 2.0 project so she will continue to work on it while giving support and love to Candy Finance when necessary. CandyPunk is the team leader and he will be working full-time on Candy Finance with a community and marketing manager in his team. CandyPunk knows that best crypto projects are community-powered. This is why Snapshot off-chain community governance system has been implemented to expand the team accordingly and guide the direction of the project.

Get Ready!

We Launch at block 5546005 which is roughly 11GMT, 10th of March 2021. We will announce our launch on our telegram and discord channels as well. You can start depositing PancakeSwap LP tokens using the interface at;