WOOF Farm Tokenomics

4 min readFeb 13, 2022

In this post we would love to explain tokenomics and functions of WOOF Farm and rules that will apply to the WOOF Farm and SNACK token

SNACK token

$SNACK Token is the governance token, while WOOF token is the native token of the WOOF project and products, we envision one of the token’s main uses as a farming mechanism. More precisely, farming WOOF will reward users with a new reward token, SNACK. The way this was imagined is for WOOF DAO to see the issuance of SNACK governance tokens, which will be earned by staking WOOF, as well as other popular meme tokens on the WOOF Farm. A small amount will be reserved for future developments of the ecosystem, which will bring further value to both WOOF and SNACK holders. As mentioned, the tokens will also be used for governance, giving token holders the ability to make novel proposals or vote on the proposals of others to benefit the WOOF community. Governance token holders will not only reap financial benefits, but will help drive the future course of $WOOF and its products.

As WOOF matures to a point where it becomes possible and appropriate, a share of revenue will be disseminated among governance token holders as well. This includes the following:

1. For every swap successfully conducted on WOOFSWAP and every staking or unstaking action performed on WOOF FARM, a percentage of swap and staking fees will be allocated and distributed as WOOF, proportional to the holders SNACK share.

2. As future products launch, additional revenue will come into play, making it increasingly profitable to be a governance token holder.

3. Token holders who engage in yield farming will also be able to stake any dog memecoin and farm SNACK.

SNACK Tokenomics

Total supply: 500,000,000 SNACK

Reward distribution for pools: 70% – 350,000,000 SNACK

SNACK Uniswap pool: 20% – 100,000,000 SNACK

SNACK Product development fund: 10% – 50,000,000 SNACK

Snack Functions: 8% total tax on buy/sell transactions. No tax on wallet to wallet transfers.

4% – SNACK Holder Reflection

4% of all SNACK trades (buy/sell) is automatically distributed to the SNACK holders. Please note that WOOF Farm stakers don’t receive these reflections.

4% – WOOF Fund

4% of all SNACK trades (buy/sell) is sent (as ETH) to the WOOF Fund.

WOOF Farm Terms and Rules

Early withdrawal fee: any stake withdrawn within 30 days from the original deposit date
Withdrawal fee: any stake withdrawn between 30 days and 180 days from the original deposit date
Deposit fee: any deposit made to a non-native pool

Native pools are limited to $5,000 token equivalent per address (wallet).

All withdrawals in native and liquidity provider pools are exempt from tax if stake duration is over 180 days. If a stake is withdrawn partially, the timer is reset for the remaining amount staked.

Native pools – Early withdrawal – 7%

3% to WOOF Fund – Withdrawal from a native pool converted to ETH and sent to fund.
2% to WOOF/ETH LP token stakers – Withdrawal from a native pool rewarded as ETH, automatically distributed.
2% to SNACK/ETH LP token stakers – Withdrawal from a native pool rewarded as ETH, automatically distributed.

Native pools – Regular withdrawal – 4%

2% to stakers – Withdrawal from a native pool automatically awarded to stakers in a corresponding pool.
1% to WOOF/ETH LP token stakers – Withdrawal from a native pool rewarded as ETH, automatically distributed.
1% to SNACK/ETH LP token stakers – Withdrawal from a native pool rewarded as ETH, automatically distributed.

WOOF/ETH LP pool Early withdrawal – 3%

3% to WOOF/ETH LP token stakers – Withdrawal from the WOOF/ETH pool rewarded as WOOF/ETH LP token, automatically distributed to other LP providers in the pool.

SNACK/ETH LP pool Early withdrawal – 3%

3% to SNACK/ETH LP token stakers – Withdrawal from the SNACK/ETH pool rewarded as SNACK/ETH LP token, automatically distributed to other LP providers in the pool.

WOOF/ETH LP pool Regular withdrawal – 1%

1% to WOOF/ETH LP token stakers – Withdrawal from the WOOF/ETH pool rewarded as WOOF/ETH LP token, automatically distributed to other LP providers in the pool.

SNACK/ETH LP pool Regular withdrawal – 1%

1% to SNACK/ETH LP token stakers – Withdrawal from the SNACK/ETH pool rewarded as SNACK/ETH LP token, automatically distributed to other LP providers in the pool.

Non-native pools Deposit – 5%

3% to WOOF Fund – Deposit to a native pool converted to ETH and sent to fund.
1% to WOOF/ETH LP token stakers – Deposit to a native pool rewarded as ETH, automatically distributed.
1% to SNACK/ETH LP token stakers – Deposit to a native pool rewarded as ETH, automatically distributed.

Pool allocations

WOOF – 80 000 000 SNACK

SNACK – 25 000 000 SNACK

WOOF/ETH – 30 000 000 SNACK

SNACK/ETH – 30 000 000 SNACK

SHIB – 10 000 000 SNACK

SAITAMA – 10 000 000 SNACK

FLOKI – 5 000 000 SNACK

KISHU – 5 000 000 SNACK

ELON – 5 000 000 SNACK

Total allocation: 200 000 000 SNACK

WOOF Fund

We plan to launch a fund named WOOF Fund. This will be governed by holders of SNACK, who will propose ideas for the fund to invest (from marketing and advertising campaigns to allocating funds in revenue generating instruments) and place votes to determine how and on which purposes WOOF Fund should spend its funds.

The ultimate goal is that we can grow our capital and reputation to the point that WOOF is recognized as 1) the best place to go for memecoins and products and services around them 2) the best place to learn about crypto, DeFi, DAOs and how to achieve financial freedom in modern world. As SNACK holders will play a key role in the running of WOOF Fund, it is intended that a share of revenue will be directed to them once the fund grows to the point where this is appropriate. This point will be voted and decided on by the WOOF DAO. But let’s talk about it in our next post (very soon…..)

WOOF!