![]() Once the liberation is complete, the liquidity converted will be fueling the first sets of KeyKey pools, and will bring the protocol into operation immediately. These new pools will be almost identical to the standard Uniswap pool, with the added feature that any fees accrued will be distributed to LOCK token holders through the logic outlined above. This liberation movement will involve taking all of the Uniswap LP tokens staked on KeyKey, redeeming them on Uniswap for the respective token pairs, and initializing new liquidity pools from those tokens. ⛵️ The Liquidity Liberationĭuring the first 68000 blocks from the protocol’s inception (~10 days), we will be migrating all the liquidity tokens staked onto KeyKey contracts. To bootstrap early development, partnerships, and meme-creation, we have also allocated ~2.27% of the total supply of LOCK for early stage growth. Following suggestion from the community, 8% of every LOCK distribution is set aside for the development, partnership incentives, & future iterations, including security audits. Let’s ensure the long-term viability and sustainability of the project. In KeyKey, 0.25% go directly to the active liquidity providers, while the remaining 0.05% get converted back to LOCK and distributed to the LOCK token holders □. With the current Uniswap configuration, 0.3% of all trading fees in any pool are proportionately distributed to the pool’s liquidity providers. The LOCK/WETH pool gets twice the amount, so be sure to supply your LOCK to Uniswap to become eligible for extra earnings! Once LOCK is live, the community can vote to add more eligible pools, or change the LOCK weight of any pool. Zoomernomics: AMPL-ETH, YFI-ETH,YFII-ETH, YAMv2-ETH, eth-RMPL.Defi Protocols: COMP-ETH, LEND-ETH, BZRX-ETH, FSW-ETH, YFV-USDT, CREAM-ETH,.CeFi Stablecoins: USDT-ETH, USDC-ETH, DAI-ETH, sUSD-ETH.This is to incentivize early Liquidity Providers and to help streamline The Liquidity Liberation. However, for the first 68000 blocks (~10 days), the amount of LOCK tokens produced will be 12x, resulting in 324 LOCK tokens being minted per block. These tokens will be equally distributed to the stakers of each of the supported pools. So LP's will decide.Īt every block, 27 precious LOCK tokens will be created. The list of eligible LP tokens can be added per on-chain governance. Once done, they will start earning tokens once rewards starts on block 10780000. To start providing liquidity and earning LOCK tokens, anyone holding Uniswap LP tokens can stake those LP tokens into the corresponding initial list of pools. With that, we have designed the token distribution mechanics to make it as easy as possible for the existing Uniswap liquidity providers to start migrating to our protocol! Many of us are existing liquidity providers in Uniswap pools. After all, there are only so many fish in the sea! □□ LOCK Token Distribution The earnings that you’ll receive from staking will be proportional to the amount of LP tokens you have staked versus the total amount of LP tokens staked.Īnd remember, LOCK is a deflationary token, so your early support will not be diluted by wacky infinite-supply tokenomics! Pre-miners will own approximately 18% of the total LOCK token supply. As an early liquidity provider, you become a non-dilutable stakeholder of the protocol. However, unlike Uniswap, those LOCK tokens will also entitle you to continue to earn a portion of the protocol’s fee, accumulated in LOCK, even if you decide to no longer participate in the liquidity provision. With KeyKey, one can also provide some liquidity into a pool and earn rewards in the form of LOCK tokens. Moreover, as protocol gains traction, despite being early liquidity providers, they risk getting their return diluted as (bigger and wealthier) stakeholders such as venture funds, exchanges, mining pools join the protocol with a huge amount of capital. Once they have withdrawn their portion of the pool, they no longer receive that passive income. With Uniswap, liquidity providers only earn the pool’s trading fees when they are actively providing said liquidity. Of course, one of the natural questions that many may have is: “Why would someone want to provide liquidity to KeyKey, as opposed to Uniswap?”. □ Protocol Design □ Liquidity Provider Incentives In other words, a clean fork of Uniswap, owned and governed by the Community using a Deflationary Governance Token. Introducing KeyKey, the Community Owned DEX □ □ So What is KeyKey? KeyKey = UniSwap V2 + Deflationary LP Reward Token ![]()
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