Hi frens! We are only few days away from the GSWAP token distribution and farming! This update contains all the important details about the token launch.
Let’s dive right in!
Disclaimer: The presented information is not investment advice. Please make sure you read and understand our terms of service before participating in the Shroom ecosystem.
Token Details
General
- Max Supply: 20,000,000
- Symbol: GSWAP
- Token Type: dApp Governance token
Allocation
GSWAP will be offered with a fair distribution, with most tokens going to the community in several ways: yield farming rounds, rewards, grants, bounties, reserved funds for developing the ecosystem/platform, and so on. The community will decide what to do with the tokens via voting.
- 30% 1st Farming round (more rounds to come!)
- 12.5% Retroactive LP rewards
- 5% SHROOM token holders grant
- 22.5% Community Treasury: future farms, bounties and initiatives
- 20% Foundation Reserve (partnerships, legal, marketing, etc)
- 10% Development Fund
Farming Details 👨🌾 🎮
General
Farming will start during the coming few days, the exact day will be announced via our social media channels. Stay tuned!
Initially 30% of the tokens (6M GSWAP) will used for this 1st farm. Details:
- 4,200,000 for Farming Pools
- 1,200,000 Bootstrapping Pool (Bounce.finance Auction)
- 300,000 ETH-GSWAP Uniswap Pool
- 300,000 GSWAP-SHROOM Balancer Pool
- Rate: 30 tokens per block
- Estimated duration: 4,200,000/(6,500*25) = ~25.84 days of farming
Numbers have been adjusted respective to the initial proposal to accommodate bigger pools and improved liquidity
In order to encourage holding and ease the selling rate after farming ends, the farming process will implement a series of preventive measures:
- LP soft-lock: Liquidity will be locked until farming ends, and once LPs unstake the LP token will be returned linearly per block over 3 months period (this is around 1% per day). Via sablier.finance.
- Rewards vesting: Rewards will be claimable only when farming ends. These will also be vested linearly (per block) during 3 months, via Sablier too, another 1% day.
The rationale is that this buys time for the developers to push product updates and grow organically as the ecosystem matures and people realise the protocol’s long-term value.
Farming Pools 🍄
The final farming pools are as follow:
The GSWAP-SHROOM pool will have the highest rewards (6x). It will be a Balancer pool with 5/95 ratio.
GSWAP 🎮 Bootstrapping Pool (Auction)
Due to popular demand by community members a % of pre-issued tokens (1,200,000) will be allocated in a pool in order to kickstart the GSWAP farming pairs. The process will have the following particularities:
- The GSWAP tokens will be provided in a sealed-bid auction via bounce.finance.
- Pooled funds will be recirculated into the ecosystem.
We believe that an auction introduces interesting game theory dynamics that will have a positive impact overall. The community and market will decide the price from the start, and this will be the listing price on Balancer and Uniswap pools.
All the pooled funds (ETH) will be recirculated into the ecosystem. 50% will go to creating the GSWAP-ETH and ETH-GSWAP pools and 50% to the Foundation Reserve (with immediate availability to fund bounties, design, marketing, etc)
You can learn more about how the auction will work in this article
SHROOM Token Holders Grant
We will be airdropping 5% of all GSWAP tokens as a reward to the most loyal SHROOM Protocol supporters. Who will be eligible to enter the reward?
1 — Wallets buying SHROOM since this update is published and holding it at the random block snapshot (blocks up to Jan 1st)
2 — Wallets which bought SHROOM since the start, and hold it without selling (including LPs) up to Jan 1st.
In the first week of the new year we will take a random block number and that will be used for the snapshot. So from now on, the more time hodling SHROOM, the bigger the chances to receive a % of the grant.
This will be a big thank you to our most loyal community members.
LP Retroactive Rewards
As indicated in the first section, the LPs helping us bridge liquidity between these 2 farms will get 12.5% of the total GSWAP supply. The rewards will be credited around the same time when the GSWAP farming claiming starts.
These rewards will also be vested linearly over 3 months and will give priority for upcoming farms. We will go into details in the next update!
That’s it for this pre-launch primer. Please stay tuned in our social media! We will release important additional information every day until farming starts. As usual be wary of scams trying to impersonate us, and feel free to reach out if you have doubts! we will try to solve them immediately.
Thanks for your time Shroomies!
Shroom Team
Disclaimer: The presented information is not investment advice. Please make sure you read and understand our terms of service before participating in our ecosystem.
Further Reading
- About the Shroom Protocol and its mission
- About GameSwap, a community owned DEX for in-game assets.
Join us!
Are you game?
We are just starting this amazing journey and we invite anyone who shares our vision and ethos to join our community of builders. Feel free to reach out for additional info through hey@shroom.finance or via our social media channels:
- Game Devs: We will help you promote your game, bootstrap your assets, and link them to the crypto world and its vast liquidity.
- Yield Farmers: Participate in our upcoming LP program(s), helping bootstrap cool games where you will be driving governance and getting interesting token rewards.
- Developers: If you would like to work at the intersection of gaming and DeFi, come and help us build the future, we have several grants and funds lined up.
- Designers: Bring your artistic input! There will be a separate token fund for design tasks. We are starting from a blank canvas without creative limits.
- Marketers & Influencers: Use your skills and influence for creating real tangible value in a battle-tested industry. Become an ambassador; share our success.
💬 Social Media
- Join discussion in our Telegram at https://t.me/shroomfinance
- Discord at https://discord.gg/eZcFahS
- Don’t miss any update by following our twitter at twitter.com/ShroomFinance
