LootSwap Finance — Tokenomics and Resources

3 min readMay 31, 2021

Your quest begins with LootSwap a multi-product DEX on harmony.

This post will be a more technical post breaking down our initial tokenomics and our contract addresses. For an overview of the product please see: https://lootswapfinance.medium.com/lootswap-finance-3f9be9a2faaf

TLDR;

A fantasy-theme DEX with an emphasis on gamification
Harmony’s 4th DeFi project
Forked off of Viperswap which is a fork off of Uniswap/Sushiswap & other platforms
Loot Token (LOOT) —A planned governance and utility token
Yield Farming on Harmony with ONE pairings to LOOT, BTC, BNB, BUSD and ETH. 95% of rewards are lock-up to prevent dumping and a long-term farming environment.
Farming rewards start on block 13700640. Farm responsibly!
LootSwap only supports MetaMask.
Join Telegram or Discord to stay for the most up-to-date information!

Tokenomics

Forking off of ViperSwap, we are following their initial tokenomics quite a bit. 500,000,000 max token cap with 95% of the rewards locked up. Tokens will slowly release approximately Christmas 2021 over 1 year. We’ve built in 4 treasuries to help development on LootSwap.

Treasuries

Development — 6% of the tokens minted will be used for development (grants, bounties, and technology advancements).
Marketing/Design — 6% of the tokens minted will be used for artwork, design and marketing
LootSwap DEX — 4% of the tokens minted will be used for community manager incentives, liquidity, buy back/burns and other generalized benefits for the DEX.
Guilds — 4% of the tokens will be used for the benefits of the guilds.

Pre-Mint LOOT tokens

The treasuries fall under the same lockup schedule as the Quest rewards and so in order to facilitate early development, we have pre-minted 10,000,000 LOOT tokens.

2,000,000 tokens used for the Initial Liquidity.

Treasuries

2,000,000 tokens for Development Treasury
2,000,000 tokens for Marketing/Design Treasury
2,000,000 tokens for LootSwap DEX Treasury
2,000,000 tokens for Guilds Treasury

Emission Schedule

The base emission for LOOT is 1 LOOT/Block which is 43,200 LOOT tokens per day before any multipliers.

95% of LootSwap rewards are locked up until 25 DEC 2021 and will slowly release over 12 months. Due to the lockup schedule, we are implementing a high bonus rate for early adopters and to help distribute our tokens.

The initial multipliers are as follows:

Week 1: x256 multiplier = 7680 LOOT tokens/minute (11,059,200 tokens for week 1 with 10,506,240 rewards being locked up).

Week 2: x128 multiplier = 3840 LOOT tokens/minute (5,529,600 tokens for week 2 with 5,253,120 tokens locked up)

Week 3: x64 multiplier = 1920 LOOT tokens/minute (2,764,800 tokens for week 3 with 2,626,560 tokens locked up)

Week 4: x32 multiplier = 960 LOOT tokens/minute (1,382,400 tokens for week 4 with 1,313,280 tokens locked up).

The multiplier schedule is on a week-by-week basis and can be updated and to fit the needs of the project.

Withdrawal Fees:

• 25% fee if the user withdraws in the same block. (blocks ~ 2 seconds)
• 8% fee if the user withdraws under 1 hour.
• 4% fee if the user withdraws under 1 day.
• 2% fee if the user withdraws under 3 days.
• 1% fee if the user withdraws under 5 days
• 0.5% if the user withdraws under 2 weeks.
• 0.25% if the user withdraws under 4 weeks.
• 0.01% if the user withdraws after 4 weeks.