Fishfactory Protocol: Update on EarlyBirds Test Fishfarming Conscription.
Sequel to the EarlyBirds test farming conscription proposal issued on July 26, 2021: 👉PROPOSAL
We are good enough to update EarlyBird test farmers that the proposed 12weeks farming had launched on August 2, 2021. On the said day the farming started, we received a stock of 12,000 fingerlings from the hatchery as against 10,000 fingerlings as initially proposed.
XFP-TEAM had also decided to upgrade the initially proposed batch supply from 10,000 fingerlings to 20,000 fingerlings considering statistical analysis shown below👇. Therefore on 7th August, another batch of 8,000 fingerlings was received from the hatchery. Hence, EarlBirds test fishfarming has since started it’s count down from 7th August and has been updated as show Below:
EARLYBIRDS BATCH DETAILS (UPDATED)
Farming Period: 12 — 13 Weeks
Batch Stock: 20K fingerlings ($462)
Mortality: 10% {2000 fingerlings}
BFI Man-hours: 2 Workers {$240 for 13 weeks}
5 SMP Rentage: $250
Batch Feeds: > $1,340 (please take note of greater than sign)
Sold Supply: 20,000,000 $XFP @ $0.0001 (💯 Sold) 👉 Check Here
Funds Raised: $2,000
Already Spent Funds: $2,650 (at the time of this update)
Our Team shall take responsibility for the extra operating cost being consumed this was not captured earlier, which is categorized as miscellaneous. All miscellaneous expenses on farm includes feeds(partly), water pumping machine, maintenance and fueling. Our team has failed to capture a few of these extra cost, but we take the responsibility. The goal of the test farming must be achieved and that is give everyone a chance to farm and have a 100% farm yield before official launch.
We are not buying time. Fishfactory Protocol is not shit-token. There are no airdrops as well. Also the team does not have $XFP orders on Waves.Exchange currently, because we do not have the tokens. Hence we are not rushing to launch until all EarlyBirds receive their capital and yield from the current batch of farming. We appreciate your patience for staying with the Protocol.
How will EarlyBirds Participants claim their capital, ROI yield & When?
Harvest of the current EarlyBird Fish🐠 farming is scheduled for October 23th — 25th, 2021. Hence, just a week after, a buy-back order will be placed on the USDN market on a fixed price against the Fishfactory P asset, for community to fill it as sell-back to XFP-TEAM.
ROI STATISTICAL ANALYSIS ON EARLY BIRDS FISHFARMING.
Below is an assumption of the statistics roi analysis. We shall be set for harvest by October ending, hence the following is assumed.
If all 5 SMP Tarpaulins each measuring 18ft by 9ft by 4ft shall be harvested with a targeted output of 500Kg per SMP at market rate of 700NGN/Kg, then
👉 5 x 500kg = 2,500 KG
👉 2,500kg x 700 NGN = 1,750,000 NGN.
Then, $3500 is raised @ 500 NGN/$. (Note the NGN/USD rate might change as it’s currently 515–520/$).
Hence, farm yield is relative to the number of SMP and Product type from factory farms. The test farm is a small investment therefore there is not much of cumulative effect except until protocol is launched. We are sure of crossing 35% profit yield for all farmers.
After Our Team shall convert farm returns to USDN and place on DEX at a wholesome price according to this statistics, then price is determined as follows:
$3500/20,000,000 XFP = $0.000175 (as returns price)
So, a farmer holding:
✅ 4,680,000 Fishfactory P @ $0.000175 will realize $819. This user must have invested $468 originally.
✅ 1,500,000 Fishfactory P @ 0.000175 will realize $262.5. This user must have invested $150 originally.
✅ 500,000 Fishfactory P @ 0.000175 will realize $87.5. This user must have invested $50 originally.
This is the profitability assumed in 12–13 weeks. This is our approved statistical analysis regarding this test farming. We hope everyone understands as we work towards this goal. It can be more or slightly less depending on mortality and any other possibility that may arise.
AT THE END OF TEST FARMING.
At the end of the test farming, Fishfactory Protocol shall be ready for launch in the first Quarter of 2022 after all farmers has reclaim their yield.
Thereafter, 15,000,000 $XFP will be burnt 🔥 and 5,000,000 $XFP reserved for distribution to all 13 wallets that interacted with the test farming after sales.
More news coming on:
#FishfactoryProtocol #FishfactoryNFT.
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