LootSwap Finance — Tokenomics and Resources
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
- 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!
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.
- 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.
- 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
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.
• 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.
Our smart contracts forked mostly from ViperSwap
* UniswapV2, UniswapV2Factory.sol, UniswapV2Router02.sol, UniswapV2SubGraph and other helper libraries
* ViperSwap: Pit, Pit Breeder
* Venom Finance: MasterBreeder.sol
Smart contract code is available at: https://github.com/LootSwap/
Deployed contract addresses:
GovernanceToken (LOOT): 0xbDa99C8695986B45a0dD3979cC6f3974D9753D30
Quests (Quests / aLOOT):
Developer Treasury: 0x596676847F5DD4bFFACC83BAB7A8d26E9FbEa57b
Marketing Treasury: 0xB340914Fe4b5AD965A0376b70d66b979D2b8163A
Lootswap Treasury: 0x1bab583ac13Ec89a2D49618C64572bB6EaD8dF20
Guilds Treasury: 0xD3329bd5f113ED4965B8309D2721e7FF7A37A649
Initial Liquidity wallet: 0x348d391e6576048332B9aB44a7bD29b1565eEBE3
https://lootswap.finance (others incoming)