Yield Farm Cerberus Burns 8% of Every Transaction

Earn like hell, burn like hell

The newly launched DeFi protocol Cerberus burns 8% on every transfer within the protocol. The yield farm and automated market maker want users to hold their tokens. While burning them would increase overall market value.

Cerberus is a bit inspired by the success of Safemoon, but the new yield farm sets itself apart by introducing the highest burn rate in the entire DeFi sector. On every transfer, there’s a 9% tax. The majority of this tax gets burned, while a small part goes into the liquidity pool. The idea is that this benefits everybody within the market.

Burning tokens means that tokens become more scarce. Scarcity increases the value as long as there’s demand. 61.15% of all minted CERBERUS tokens have been burnt after 2 hours since the farms launched. Furthermore, tokens locked in a liquidity pool allow more people to buy tokens, again facilitating demand and therefore creating value.  

Cerberus is true to their slogan ‘Earn like hell. Burn like hell’ with annual percentage return (APR) currently up to 15,000%. The platform offers a wide variety of staking options. In the Underworld, users can stake a variety of liquidity pool tokens, like for example CERBERUS-BNB LP, but also BNB-BUSD LP and CAKE-BNB LP. Users earn CERBERUS tokens as a reward. 

These CERBERUS tokens can then be staked in the Caves, alongside a variety of other tokens. Again, here users will earn the native token as a reward. All these CERBERUS tokens can then be staked to earn new, existing and upcoming tokens in Hell.

High-reward yield farms

Cerberus offers a wide variety of attractive farming opportunities. The highest yield on Cerberus can be found in the Underworld, with the CERBERUS-BUSD LP tokens. These offer an APR of over 16,000% at the time of writing.

Another interesting high-reward farming opportunity is with CERBERUS-BNB LP, which offers 15,000% APR. However, those rates will drop as more users enter the yield farming pools. However, there are 13 other pools that all offer between 1,000% and 5,000% APR. 

Users who don’t want to provide two tokens for a liquidity pool, can stake tokens in the Caves of Cerberus. Here they can lock tokens, and earn rewards paid in CERBERUS in return. Users can stake the native token, but also BNB, WBNB, ETH, CAKE, but also DOGE, UNI, LINK and other familiar names from the crypto space. Currently users can expect 1,000% up to 5,000% APR on those staking farms.

The final earning opportunity hasn’t been opened yet. The Hell of Cerberus will allow users to stake their CERBERUS tokens and earn tokens from other projects in return. However, the gates to Hell are still locked.  

Where’s Cerberus going

Cerberus has the intention to become the stuff of legends, very much like the legendary three-headed hellhound it’s named after. They raised 2,400 BNB or approximately $884,000 in their pre-sale, and currently, there are 1,928 token holders. At the moment of writing the platform already have $4,3 million in total value locked (TVL) across all farms and pools. It gathered this amount within hours.

The team vowed to be in it for the long run, which could be proven by the liquidity they created and locked on PancakeSwap. In a similar fashion, they also don’t want yield farmers to jump in and out of the pools. That’s why they use Harvest Lock-up, which limits the ability of yield farming bots to automatically dump their profits onto the market.