DinoSwap.Exchange is requesting 200k USD worth of POOL tokens in exchange for $2M USD worth of DINO Tokens to be emitted from the “Extinction Pool”.
Hello everyone, my previous thread was here: DinoSwap "Extinction Pool" $POOL Trial
As we are launching within two weeks, I wanted to start a formal proposal to hopefully get approval on time for our launch so that PoolTogether can gain the added benefit of our marketing efforts for our launch which we expect to make waves in Polygon and DeFi abroad. Going to copy paste the original proposal below:
Hi everyone, I’m writing on behalf of DinoSwap as a core contributor. DinoSwap is an upcoming farming/dex aggregator launching on Polygon. I’m aware that there is interest in building liquidity on Polygon and that’s what we’re all about through our unique LP token farms and single asset staking via our DINO token.
We wanted to propose $200k USD worth of POOL tokens to be contributed strictly as rewards into the “Extinction Pools” on DinoSwap. DinoSwap is not a DEX or AMM itself, it actually aggregates liquidity through SushiSwap and Quickswap on Polygon. So there is no need to seed additional liquidity into the farms. Simply put, farmers will be able to farm DINO by depositing their SUSHI-POOL LP tokens to DinoSwap, and stake their DINO for POOL. DinoSwap aims to become the PancakeSwap of Polygon (and abroad). Farming contracts are SushiSwap primitive contracts, which have been thoroughly battle-tested, and the extinction pool contract has been audited by CertiK.
A unique feature about DinoSwap is the 100% toll-bridge (a complete DINO token burn) within the extinction pools. Users can stake their DINO rewards in extinction pools, which enables single asset staking of DINO tokens to earn project reward tokens (POOL tokens in this case).
The burn mechanism is a deflationary mechanism to control the right balance of emissions /supply of DINO. Staking DINO in the extinction pool acts as a token swap, encouraging users to compound interesting leading APY by liquidity mining with more POOL tokens.
We will be targeting industry leading APY in emissions based on our series B valuation of 45m, assuming there is about $6m in liquidity. However, if DinoSwap valuation goes up, and I’m quite certain it will, the APY increases from there. For example, if the valuation is $135m, the APY will be even higher (%) on the farm. The multiplier will be locked for a certain duration 30-90 days (TBD).
TL;DR - DinoSwap will be a multichain “PancakeSwap” platform featuring tier-1 projects. We are asking for POOL tokens to create our version of “Syrup Pools” aka Extinction Pools. This is a profitable investment in terms of ROI for the PoolTogether DAO with added co-marketing benefits. Rewards will be paid out in $DINO (ERC-20)
dinoswap.exchange (Please submit your e-mail so we can manually whitelist you) We are currently in stealth mode hence the restricted access. If you have any questions please let me know. I will be inviting our Developer and CTO to the discussion to answer any technical questions you may have.
- Commit POOL tokens as rewards for the extinction pools on launch