HomeCoinsBytom (BTM)MOV SUP liquidity Mining Debut (Yield Farming) | by BYTOM BLOCKCHAIN |...

MOV SUP liquidity Mining Debut (Yield Farming) | by BYTOM BLOCKCHAIN | Sep, 2020

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BYTOM BLOCKCHAIN

SUP is the value capture token of MOV SuperTx protocol (an advanced and improved AMM trading protocol other than Uniswap) and an important part of MOV DeFi protocol suite. SUP will have the governance rights of MOV SuperTx. In the future, it can:

1, determine the trading fee of the SuperTx protocol, determine the listing token Pair in liquidity pool,

2, determine the development direction of the SuperTx protocol (community proposal and voting) and so on.

3, SUP is a meaningful social experiment. Its future is determined by the community and determined by many users who own SUP. Relying on the continuous iteration and upgrade of MOV SuperTx products, SUP will also reflect its huge value.

SUP is completely distributed through a decentralized method, starting from block height 72,600,001 of the Bytom sidechain (Vapor), to provide SUP rewards for liquidity providers. The team has no pre-mining, no reservation, and no private sale.!

The total amount of SUP is 100,000. Starting from the block height 72,576,000 of the Bytom sidechain(Vapor), SUP rewards are provided for liquidity providers. The weights of each liquidity pool are as follows:

One day after the opening of liquidity mining, SuperTx will launch the SUP/BTM liquidity pool and open SUP trading pair.

Under normal circumstances, SUP is issued for a period of one month, with a linear decrease every week. The specific issuance is shown in the following table:

The issuance will be affected by delayed gratification, which will promote the early end of liquidity mining and SUP issuance. It means it will be less than 4 weeks.

Users will have two choices for the SUP obtained through liquidity mining: get immediate satisfaction or delay satisfaction.

  • Get SUP immediately, and trade

Or

  • Delayed gratification needs to be locked for a certain period using the delayed gratification smart contract, but the SUP to be harvested can many times higher than the current amount :

Lock the SUP (to be harvested) for 3 months, and harvest 1.5 times the SUP after 3 months

Lock the SUP (to be harvested) for 6 months, and harvest 2.1 times the SUP after 6 months

Lock the SUP (to be harvested) for 12 months, and harvest 3.3 times the SUP after 12 months

Note: You can only have a choice during the claim, you can no longer use delay gratification after claimed.

One week after the liquidity mining starts, 20% of the trade fee of the SuperTx protocol will be used to buy back and coin burn SUP

The buyback and coin burn are once a week.

Phase 1: Initial distribution

Initially mining in 6 pools including BTC/BTM ,ETH/BTM ,BTC/ETH ,USDT/USDC ,USDT/DAI ,USDC/DAI

Phase 2: Launch SUP/BTM liquidity pool

Launch SUP/BTM liquidity pool, open SUP trading pair.

Phase 3: start the buy back and coin burn of SUP

One week after the start of liquidity mining, 20% of the trading fee of the SuperTx will be used to repurchase and burn SUP; the liquidity provider not only can harvest SUP, but also will share the trading fee in SuperTx .

Phase 4: Post-liquidity mining stage

流动性挖矿结束后,SUP 的回购销毁将持续进行,SUP 进入通缩状态。

After the liquidity mining ends(all SUP has been distributed to Liquidity provider), the repurchase and coin burn of SUP will continue, and SUP will enter to deflation stage.

超导协议将会搭建相应的治理面板,将治理权交给 SUP 持有者,SUP 持有者可以:

The SuperTx will build a corresponding governance panel and transfer the governance rights to SUP holders. SUP holders can:

  • 决定超导协议交易手续费率
  • 决定超导协议的手续费分配方案(如 LP 与 SUP 回购的分配比例)
  • 决定超导协议流动性池(即交易对)的上线/下线
  • 决定超导协议的发展方向(通过对协议升级方案的提案和投票)
  • Determine the trading fee rate of the SUP in SuperTx Pool
  • Determine the trading fee allocation plan of the SuperTx (such as the distribution of Liquidity provider(LP), and amount of SUP Purchase)
  • Determine the development direction of the SuperTx (Community proposal and voting on the protocol upgrade plan)

比原团队将持续进行 DeFi 生态的建设,将 SUP 引入更多的应用场景。

Bytom Foundation will continue to build the DeFi ecosystem and introduce SUP into more application scenarios.



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