Tokenomics
Last updated
Last updated
The tokens basic liquid form is the $EQUAL token. This token will be used as a liquid transferable token used for emissions and have the ability to be locked into a veNFT.
$EQUAL can be locked in the form of veEQUAL into an NFT which adopts the vote escrow model for obtaining fees and directing emissions. Various lock periods can be selected and is a transferable asset.
Some of you might be familiar with the rebase model that incentivizes early adopters of the SOLIDLY platform. We have decided to completely remove this model as it presents a problem for new entrants, as they find it hard to obtain a fair ownership percentage of fees and voting power later in the evolution of the exchange.
Our lock period will be a maximum 26 weeks and the percentage of your lock time will be issued to your $veEQUAL. This modifier will give you your voting power and percentage of fees in the pool you select.
The initial token supply will be dispersed as per the chart above.
The initial token supply will be limited to 2,500,000 tokens.
Airdrop, initial liquidity incentive and team distribution will be in the form of locked $veEQUAL for the maximum 26 weeks.
Marketing & treasury $EQUAL tokens.
The idea is to have a fair mix of liquidity incentive and decentralized distribution. Allowing for team focus, marketing and longevity of the platform.
The airdrop will be issued in the following way:
Any wallet address that interacted with a veSOLID contract
Any wallet address that staked oxSOLID
Any wallet address that staked vlSEX
Any wallet address that interacted with a veVELO contract
Now for the boosted airdrop.
For this exercise any oxSOLID or vlSEX stakers are worth 1 point and an additional point is added for interaction with a veSOLID or veVELO contract (only 1 point each per address). The maximum amount of points per address is 3.
1 point = 150 $veEQUAL
2 points = 220 $veEQUAL
3 points = 300 $veEQUAL
This is a limited offer of 21 days and 500,000 veEQUAL
We have chosen this method to reward people who have an understanding of the solidly system. The more involvement you have had, the more you are rewarded in our airdrop.
*For fairness and to stop gaming of the system. We took a snapshot on the 19/7/22 and its people before this date that are included.
Over the first 4 weeks we will distribute 625,000 $veEQUAL to the following pairs, for providing liquidity through a MasterChef staking contract. The distribution percentages are listed in the table below:
This distribution will be very rewarding for people who own liquidity in these pairs. It will cement $veEQUAL voting power in the hands of the liquidity holders. They will then have the power to direct emissions to pairs that pay the highest fees and reward liquidity that they already own.
Each weekly emissions will occur from the start of each EPOCH. The emissions will not have a ramp down period to eliminate dilution and token price depreciation. Emissions will be kept at a slow but steady decline to ensure the equalization of the platform for liquidity incentives and fees for the $veEQUAL holders.
Emissions will have a 0.5% decline rate per week
Week 1 - 50,000
Week 2 - 49,750
Week 3 - 49,501
Week 4 - 49,253
Week 5 - 49,007
and so on...
From week 104 The decline rate will reset to 0.1%
This will provide a slow & predictable decline in emissions that will last into the next century.
Remember that no rebase means less complication but a fair opportunity for people to obtain a nice share of the fees dependent on the amount of $veEQUAL, they own at any point of the emission cycle.
Also an additional 2% of EQUAL will flow to Treasury Wallet and 1% will flow to WFTM/EQUAL pair each EPOCH.
