This is just a series of detailed tests checking out how pantherswap works and does their fees which is very much a part of their whole tokenomics... so they're basically a feature of their system that gives out a TON of Panther tokens knowing that these fees will help them keep things somewhat under control. Presently their APRs are very very high so there is perhaps some tolerance for these fees and with 280+ million TVL they seem to be attracting some attention even with these high fees.
They do mention the 5% panther-transfer-tax in a couple places but you'll find they don't do a good job of showing where it impacts users while a user does a transaction.
I'm not the only one to have issue with their messaging
THE TESTS
These are 11 tests that I felt like doing and to give me some level of personal comfort in considering entering these pools. I could have trusted other people or their messaging and documents on their site... but i decided to just test it all out for myself with smaller amounts and eat the BSC fees and the panther fees in the name of Science. As a side note BSC fees are growing and instead of 5gwei it's now up to 8.5-8.8 gwei which basically means BSC transaction prices are up by about 70% which kinda sucks... but at least it's not ethereum.
USING PANTHERSWAP FOR OTHER TRADES
.01 BTCb to bUSD
PANTHER = 554.758 estimate 554.821 reality
1INCH Comparison = estimate of 566.452 through advanced 1inch swaps
RESULT: 1.9% difference ... not a fee just a better rate and 1inch lets you know they're saving you exactly this much and that was actually the exact ammount I lost out on because i used pantherswap ... but i would have had this issue with pancake as well.
Also transaction fee was $1.06
BUYING PANTHER TOKENS ON PANTHER
$22.69busd to panther
I'm using this amount so i can compare to a nice round dollar amount
PANTHER = 10.0485 estimate 9.549 reality
1INCH = 9.934 estimate
RESULT: There is indeed a 5% transaction fee. This is exactly what pantherswap tells it's users (though they don't have really clear messaging probably because they're not good at messaging)
ALTERNATIVE: Well i've never been able to successfully swap for panther on 1inch so their estimates don't matter much even if i increase the slippage to 7% to account for a possible 5% fee
p.s. the transaction cost $0.89
ADD LIQUIDITY TO PANTHER-BUSD
ESTIMATE = 10busd / 4.4401 estimate or 4.63051LP tokens
4.44043*2.250 = 9.99
REALITY = 9.5 BUSD / 4.2184 or 4.398 LP tokens
RESULT = 5% deduction of your LP tokens to add LP to a pool involving panther ... this impacts both the panther and busd values
FARMING AN LP TOKEN INVOLVING PANTHER
EXPECTATION = staking the 4.39898754 LP tokens i got previously.
REALITY = It shows I still have 4.39898
RESULT = No fee
p.s. Transaction fee was $0.90
WITHDRAWING FROM A PANTHER FARM
EXPECTATION = 4.39898
REALITY = 4.39898
p.s. Transaction fee was $0.76
REMOVING TOKENS FROM AN LP PAIR
EXPECTATION = 4.21876 / 9.49938
REALITY = 4.007/ 9.4991
RESULT: A 5% fee just on the panther only not on the BUSD
STAKING PANTHER IN POOL
EXPECTATION = 5 panther
REALITY = 4.75
RESULT: There was a 5% fee
Which is why this here is so misleading and they get away with it because the staking action has no fee it's the panther transfer transaction that is being charged 5% ... but they are just not clear with their messaging in their UI and they simply have a bit of text in their docs to cover their butts. Solution would be to put on their website in general. "All panther transfers (exchanges in an out of panther or exchange into or out of an LP token) have a 5% transaction fee"
POOLING A NON PANTHER TOKEN
BTCB in the pool
EXPECTATION = .001 - .00004 = .00096
REALITY = .00096
RESULT = The expected and advertised 4% fee
p.s. transaction cost was $1.12
REMOVING FROM A POOL
Removing the .0096btcb from the pool on pantherswap
EXPECTATION = .0096btcb
REALITY = .0096btcb
RESULT = 0 fee
p.s. transaction cost was $0.67
ADDING TO A NON PANTHER LP POOL
btcb-bnb
EXPECTATION = .001btcb / .0843961 (which is .00917181 LP tokens)
COMPARISON = CMC says .084007 which is not as good
REALITY = .001 / .0843961 and .009171 lp tokens
RESULT: 0 fee to add the tokens to the pool... which i remind you is not the same as adding to the farm.
p.s. transaction fee was $1.04
ADDING/STAKING NON PANTHER LP TO A FARM
EXPECTATION = .009171819 LP tokens staked
REALITY = .009171819
RESULT: no fee to stake to a panther farm on the Panther AMM
P.s. Transaction fee was $1.49
SHOULD YOU INVEST
This was just tests about using it... it's all about trusting. Are their contracts trustable. Are they going to be responsible with what they do with their Token? Also if you buy panther tokens then you have to figure out if you believe in their tokenomics AND if 3rd parties are gonna dump them or buy them changing their price. If you are going to stake LP or tokens that are not panther then you'll end up earning panther and you have to ask yourself do you want that panther?
Also they're moving from 75/block to 50/panther a block so all your calculations should be 33% different. And will that change the value of panther... it's not gauranteed... because nothing is guaranteed.
ONE EXAMPLE
If i'm staking BTCb on CubDefi for example and they're giving me 0.25 cub a day (valued at $0.455) per $1000 and their fee is 20$ per thousand that means 43.95 days at present cub value and total LP in that pool.
On the other hand panther will give 3.71panther per day if you stake $1000 of btcb (the panther is valued at $8.247) but they'll take $40 fee to stake $1000 of btcb ... and that means 4.85 days to make up the $40 IF and ONLY IF the price of panther remains AND the total LP in the pool stays the same. Also don't forget they are moving to reduce that 3.71 to something closer to 2.47 soon. So it could mean
something more like 7.3 days at present panther rates to earn back the $40 you spent.
But you still need to trust their contracts and feel good about where the price of panther is going pretty much for everything they do. You do have a ton of users who have trusted panther with $287 million of funds into different contracts and the market cap of the coin itself is $53 million. So take that for what it's worth.
In reality i just did all this for tests for MYSELF... and if it helps you that's just a bonus.
That was an extremely detailed test. I saw the stuff about the panther fees and I decided to only go into the BTCP and BUSD pools and the BUSD/BNB pair... really just waiting on Cub Kingdoms to come out... The only fees I have hit are when I claim panther. I’d didn’t see it really when I traded Panther for more BTCB and BNB though... But when you look at why they charge that fee, it makes sense and really something like that would help Cub stabilize I would imagine. More burning of inflationary tokens is a good thing... at least in my thoughts... anyway good post!
This was an awesome breakdown of the PANTHER platform! It will certainly be useful to our audience at https://coin-Logic.com so we are reblogging and it will show on the rotating feed on the front page!
I noticed the 5% and agree it isn't clear at all
Thanks for doing that Jarvie. It's great information and a good basis to look at other Defis from in the future.
The questions to ask are really useful too.
I'll be definitely be back to read it again if I'm tempted to give other Defi ago. I'm not convinced it's for me. I have some more basic stuff to learn first. 😊
Posted Using LeoFinance Beta
I cant wait til people discover these EVM things all running on BSC running even better on blockchains like FTM and HARMONY.
was this $8.247 just 9 hours ago and now is $1.9? or am i looking something wrong?