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What is Almond (ALM)? Everything you need to know about ALM

Publish by Charlie at 14 October 2021

In the crypto world, APY (Annual Percentage Yield) refers to the rate of interest on an investment. Some project teams use this number to attract community attention since everyone loves high APYs. Yield Farming can give you multiple crypto assets in a short time.

In the Solana ecosystem, Almond’s TVL reached over $300M in three days after the yield farming launch.

The article below will provide all detailed information about Almond, including:

  • What is Almond? How does it work?
  • What is Almond Token (ALM)? All detailed information about its Tokenomics.
  • How to get and buy ALM tokens?
  • Roadmap and details about the team, investors, and partners.
  • Is Almond a good investment?

Let's explore the Almond project!

What is Almond?

Almond is a Solana-based project that creates yield farming pools for investors to earn various tokens. It formed a partnership with Atrix to boost the farming incentives.

For now, the main product of Almond is yield farming and the team promises to release more additional features later.

How does Almond work?

Almond is a yield farming platform that accepts LP tokens from Atrix Finance for its farming pools. Currently, the platform will reward farmers with its ALM token. The amount of ALM tokens distributed to farmers depends on their proportional share in the pool.

Yield Farming Flow on Almond
  • The yield farming began at 2:00 AM UTC Oct 9, 2021.
  • 1500 ALM/s emission rate will last for the first 2 weeks.
  • Then the rate will incline to 300 ALM/s.
Almond Farms

As you can see in the pool labels, there are 1x, 5x, 10x labels. This means how many token rewards you will earn when farming. You might mistake those labels to leverage like other yield farming platforms.

For example, Atrix mSOL-USDC (10x rewards) means 1500*10 ALM tokens per second will be distributed to all farmers, depending on their shares in the pool.

  • Atrix SRM-USDC (10x rewards).
  • Atrix SOL-USDC (5x rewards).
  • Atrix BTC-USDC (5x rewards).
  • Atrix ETH-USDC (5x rewards).
  • Atrix renDOGE-USDC (1x rewards).

Almond announced that there will be no private sale, public sale, or team pre-mine. The team will distribute ALM via its yield farming platform. This process is regarded as a fair launch. As a result, ALM tokens are distributed to all investors equally and fairly.

In the future, Almond is going to create more pools that emit other tokens. Investors should follow the social media channels of the project to catch up with new updates.

What is ALM Token?

The ALM token is the utility token of Almond. The team hasn’t released any further use cases of the token. However, you can start trading ALM tokens on exchanges.

Detailed information about ALM Token

ALM Price Today

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ALM Key Metrics

  • Token Name: Almond.
  • Ticker: ALM.
  • Blockchain: Solana.
  • Token Standard: SPL.
  • Contract: ALMmmmbt5KNrPPUBFE4dAKUKSPWTop5s3kUGCdF69gmw.
  • Token Type: Utility.
  • Total Supply: 101,272,493 ALM (source: Solanabeach)
  • Circulating Supply: Updating...

ALM Token Allocation

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ALM Token Sale

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ALM Token Release Schedule

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ALM Token Use Case

The ALM token is newly released and ALM holders can transfer or trade the token. However, to raise demand for ALM tokens, the team should put forward some other functions such as staking, farming, or a governance mechanism, etc. This will add value to the token itself, rather than a fast bump and dump scenario.

How to get ALM Token

You can get ALM via yield farming pools on the Almond platform. The farming program started on Oct 9th, 2021.

How to buy ALM tokens

ALM holders can trade the token on various Solana-based exchanges such as ProjectSerum, Symmetry, Atrix Finance, and Aldrin.

Aldrin Listed ALM Tokens

Roadmap & Updates

For now, Almond is focusing on creating more pools that support LP tokens of Atrix Protocol. In the future, if there’s any new update or roadmap, we will update this article.

Almond supports more yield farming pools

Team, Investors, and Partners

Team

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Investors

The Almond claims that there will be no private sale, public sale, or team pre-mine. Therefore, this project is involved by no investor.

Partners

Atrix Finance is an AMM + Order-book DEX built on Solana that is the biggest partner of Almond. Yield farmers have to own LP tokens of the Atrix platform so as to farm on Almond.

Is Almond (ALM) a good investment?

Almond is a new project on Solana that has an unconventional method for token distribution. There are some key highlights from Coin98 for investment decisions.

In the first two days after the launch, every Almond pool had over a 10,000% APY that was spurring the market. The TVL was rapidly growing and reaching millions of TVL. This shows the initial attention that was created by the Almond team.

Almond and Solfarm

At the writing time, the APYs of farming pools on Almond have inclined since the TVL increased multiple times. The 61% APY of the SOL-USDC pool on Almond is double that of 30.39% on Solfarm, which means the rewards still satisfy investors.

The Almond platform doesn’t offer leveraged farming so it’s impossible to get liquidated on the Almond platform. However, when you provide liquidity on Atrix Finance, your funds can get Impermanent Loss during high price fluctuations.

However, since there’s little information about this project, the team can pull the rug out of investors or smart contracts can be exploited. This may result in losing your investment. As a result, you should carefully access the project and invest the funds that you’re willing to lose.

Almond started an initial hype and successfully attracted the attention of the Solana community. From my perspective, the TVL of the platform is going to stay or not, depending much on the next movements of Almond.

And as usual, whether it is worth investing or not, Do Your Own Research before investing and be responsible for your investment.

Similar Projects

  • Sunny Aggregator is a Solana-based yield aggregator that has over $1.5B in TVL
  • Solfarm is similar to Almond that has over $700M in TVL.
  • Other yield farming projects on other blockchain platforms such as Yearn Finance and Alchemix.
TVL Rankings on Solana

Conclusion

To sum up, Almond is a new yield farming platform on Solana that currently has little information. We will update this article in the future if there’s any news.

That is all you need to know about Almond and its ALM token. I hope you’ve gained helpful insights to understand the potential behind Almond.

If you have any questions related to Almond, feel free to comment in the section down below!

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Charlie

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