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Nicks Laundromat
a sustainable USDC farm
Nicks Laundromat is an enhanced Baked Beans fork with some additional features, rules, and variables added. It accepts and rewards USDC on the Avalanche C Chain. Similar to nodes, once washing machines are bought at Nicks Laundromat, they cannot be sold, and the investment made to rewash clothes cannot be taken back. However, once bought, Washing Machines will not stop producing yield.
The daily percentage return depends on players' actions that are taken within the platform that impact the washing machines efficiency rate. The farming efficiency rate rises and falls as users wash more clothes, rewash their clothes and remove for USDC. Nicks Laundromat is designed with anti-dumping and anti-whale measures to ensure the longevity of the project. These measures include maximum deposits, as well as a cutoff time and a cooldown time for withdrawals.
Key features include:
Cutoff time: the amount of time it will take for your "cart" to be full of rewards. Once the bag is full, it will stop filling until you've taken some action in the game. This is to prevent whales from letting their rewards accumulate for a long time, and removes the false impression the contract value is going up when most of it is rewards the whale is waiting to withdraw at once.
Withdraw cooldown time: the amount of time one has to wait before one can make another withdrawal. This also prevents the contract balance from decreasing in value too fast. If the team decides it's necessary to protect the contract balance, this time period can be adjusted to slow down the rate of withdrawals, but it can only be set to a value less than or equal to 24 hours (per contract rules).
Compound count: the number of times the user has compounded. By default, the required compound count by the platform is 10, meaning the user will have to compound 10 times(compound once every 12 hours) before they can withdraw without the tax of 60%. This feature in essence will ensure the longevity and stability of the project as the USDC returns to the contract.
Compound Bonus: when you rewash your daily clothes earnings instead of selling them. The bonus increases 3% every 12 hours that you compound without withdrawing (30% max after 5 days). This incentivizes the user to compound more often, which will help boost the farms efficiency rate in the long run. To be able to utilize the rewash bonus feature, the player must not compound before the provided timer reaches 00:00:00.
For the players who choose to not play the game and only sell, there will be a 60% tax on those sells that will stay in the contract. If the player makes two or more consecutive sales, this tax will be applied. The only way for the user to not pay the 60% tax is to compound 10 times before making another withdrawal.
The best strategy to follow is the 6 : 1 rule, similar to the Casino Nodes. Compound/Rewash 6 days a week and sell 1 day a week
Minimum Deposit: 1 USDC
Maximum Deposit: 10,000,000,000 USDC
Remove Cooldown: 4 Hours (after deposits & rewashes)
Rewash Bonus: 3% each time up to 30%
Website: Nicks Laundromat
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