Technical Analysis of $EMOJIS
Tags: Predictions, Coins, Defi, Moonshots, Analysis

We’ve all seen the hype of the newly listed $EMOJIS.

Selling out on all 5 days of their Bounce Finance Presale in an average of 5 mins! What in the DeFi is so good about this project that it gets picked up by Bilaxy Exchange in just an hour after its launch?

In this article I will take you through my research into Emojis.farm and analyzing their smart contract code and their day’s chart to find out for myself and my readers if this is truly something worth buying.

“ I don’t want to be a MOONBOY, but I want my readers to be buying breakouts”

Since its #1 on Dext lets have a look at its chart.

Emojis sustained its early ‘pump and dumper’s — Hour 1 & 2

This is always a good sign in any yield farm. If you compare it to the likes of other Defi projects in the space, take Harvest or Seal for example, all of which aim to provide liquidity, if you have a look you’ll notice their charts take an inverted spike to nothingness when all their pre-sale buyers dump to make a quick buck the moment it lists.

This happened too in emoji, but with its real and effective use-cases which I will be sharing more of later in this article, it did its expected spike and dip to enter very controlled channel.

As expected the bulls drove it up — Next few hours

The chart is pretty self-explanatory in the next few hours the horizontal level could be explained by the non-anon team behind Emojis.farm which is Consentium, who has been in the industry since 2018.

Operating on its own proprietary blockchain, CSM chain, it bridges the gap between social communication and cryptocurrency, using its 100,000-member strong community and its integrated cryto wallet to facilitate seamless transactions.

Consentium aims to continue in becoming the premier chat platform and super-app for the DeFi space. Which in the future will see the adoption of $EMOJI tokens.

The goal of Emojis.farm is to create a self-sustaining community that will provide liquidity and sustainability to both new and old DeFi projects. Through generous fixed 1000% yield incentivization of APY and reward distributions of both individual LP tokens and $EMOJI, the farm ensures a steady pool of liquidity to support the ecosystem for the long run.

They have a lot in store for emojis and the market clearly saw that reaching its current peak, and creating its all time high and new resistance at just below $USD440.

Creating its huge level of support — Next 7 hours

People are selling here. There’s no surprise. Many were looking for continuation to the horizontal upside, but we can see a clear reject at 2100 which created a downtrend for 7 hours, but throught this time it held its support.

On the Lower time frames you ideally want to see that held if not we will see a break of structure, and it held. If the bulls take over from here it can go from ‘this is destroyed and abandoned to omg I have to have it’

The Golden Pocket — latest in time of writing.

Until this is support is broken I am seeing this as a buying opportunity, in the last hour you can clearly see a reversal inverse head and shoulder formation on the lower time frame, creating our first golden pocket.

If we look at this in context of a range and you add your fib levels to this bounce, and it continues to hold its support any position you take it this coming trend should be taken with a high level of confidence, as we are looking to see many coming buying opportunities.

Remember in trading it’s important to stay patient for the bulls to take it to the moon. If you follow them on their Telegram chat you will be able to see the community’s predictions there as well. https://t.me/emojisfarm_chat

Enough with the chart analysis, lets see where the bulls take us!

Lets see what they have written in stone — Their Smart Contract Code

https://etherscan.io/token/0xcbd380c2d84deafed09f79863705353505764f26

Highly recommend doing your own research!

Their contract address is 0xcbd380c2d84deafed09f79863705353505764f26

They use Safe Math library to prevent overflows.

You can see how they use their Safe Math library in the contract code.

This is something that I look for in any project as when your are working with numbers in any programming language you are subject to overflows. An overflow happens when the value of number is bigger than the maximum possible value offered by the machine.

The library will help you check for overflows in case of addition, underflow in case of subtractions as well as when performing multiplications and divisions.

Its an extremely common practice in farms, but you will be suprised to see many contracts not have this simple implementation even when working with numbers!

Not so commonly seen in a Farming Contract — Minting

Traditionally in a farm when you provide liquidity (Project Token) and receive (Project Token) as a reward.

However within the Emojis farm contract, EMOJI or DeFi pairing will be used to swap either pairing or vice-versa for half-liquidity function with one token instead of tomorrow. (this is based from Uniswap). EMOJI generated from contract will be used to buy the other pair and contribute liquidity on Uniswap. The LP received will be distributed back to users who staked LPs.

For example, if you stake HAKKA/EMOJI LP, you receive HAKKA/EMOJI LP instead of just EMOJIs.

This looks like an artificial increase in liquidity. Might there be negative aspects to this method?

There might be. Therefore the team is looking at different ways to utilize burning of tokens to control supply of EMOJI in the long run. But, emission rates being sustainable in a few months does not mean it will be in a year and more, and the team has actively mentioned that they understand this and are actively working on it, and are looking to add more utilities for EMOJI or burn mechanisms with added features on EMOJIS Farm. Additionally being part of Consentium and having a further long term plans, we can definitely see more use cases and it is clear the and the team has also mentioned that their currently announced plans for EMOJIS is not the final product.

Even more reason to Hodl $EMOJIS!

A simple answer to this is also.

If they don’t allow farm contract to mint $EMOJI, where does the rewards come from ?

They have already transferred ownership upon contract deployment for all listed pools!

Do they have a burn function then?

YES THEY DO!

Reference links for your own research!

Telegram — https://t.me/emojisfarm_chat

Website — https://emojis.farm

Medium — https://medium.com/@emojisfarm

Twitter — https://twitter.com/EmojisFarm

https://etherscan.io/token/0xcbd380c2d84deafed09f79863705353505764f26

https://emojisfarm.gitbook.io/emojis-farm/

Their current Pools

EMOJI/ETH

https://info.uniswap.org/token/0xcbd380c2d84deafed09f79863705353505764f26

MPH/EMOJI

https://info.uniswap.org/pair/0x4f60870ad7755ad2fbb8b4dc4a29117ab68da9c8

yPLT/EMOJI

https://info.uniswap.org/pair/0x90d62e68e2438a496975f5f00b9b6f5828a91b68

MGX/EMOJI

https://info.uniswap.org/pair/0xa1a3c0cd3ef7d9e2f442adf0ff3533a2a9cbc0ec

EMOJI/CSMX

https://info.uniswap.org/pair/0xbacd2cd0c094c607902f10390187b31e6845bca0

HAKKA/EMOJI

https://info.uniswap.org/pair/0xceec3d42a18ae8dcc6d6365af44b8e76c00296d9