Protocol Update
Hello everyone! With December fast approaching, we wanted to update you on Shadow Exchange! As a reminder, Shadow offers concentrated liquidity for enhanced capital efficiency, dynamic fees to manage market volatility, and xSHADOW — our novel approach to governance and liquidity incentivization.
Over the past few months, we’ve been hard at work and eager to share our recent security audits, revised tokenomics, and details about the upcoming token sale and generation event (TGE).
Security Audits
Shadow is built on Ramses V3 Core, which is based on Uniswap V3, with several enhancements. These improvements include dynamic system and protocol fee mechanisms, and x(3,3), a leap forward in Solidly-based incentivization and participant alignment. Ramses V3 Core also introduces a new accounting system to track how much active liquidity each concentrated liquidity position provides.
Given these changes, Ramses V3 Core has gone through several comprehensive audits. The first pass was conducted by yAUDIT, followed by a second pass from ConsenSys. Currently, Ramses V3 Core undergoing a public contest with Code4rena, which will last for 21 days. xSHADOW is undergoing a separate audit, details of which will be provided at a later date.
xSHADOW is undergoing a separate audit, details of which will be provided at a later date.
Features
- Concentrated liquidity 🔶
- Custom fee split per gauge 🔶
- x(3,3) model 🔶
- Dual emissions 🔶
- Dynamic fees 🔶
- Competitive farming 🔶
- Novel active liquidity tracking 🔶
- Creator Fees for launchers 🔶
Core Design & Improvements
Immutability and Security
Near-complete immutability, with three exceptions:
- Voter.sol
- xSHADOW.sol
- FeeCollector.sol
These contracts retain proxies for potential upgrades to peripheral governance settings.
Gas Improvements
Compiler upgraded from `solc =0.7.6` to `solc ^0.8` with `viaIR` optimizations
- 2x Gas Efficiency
- Modernized with built-in safety checks
Significantly improved gas efficiency (approximately 50% reduction for swapping and liquidity provisioning).
Legacy Pools
Changed from traditional Solidly vAMM to UniswapV2’s core AMM
- Fees are auto-compounded into the LP tokens
- Improved efficiency via refactoring
Minter
- Stricter limits on emission altering
- Impossible to mint tokens outside of emissions
This is a brief overview of Shadow’s architecture; a more detailed explanation of Ramses V3 and x(3,3) will be released in the future.
Tokenomics
We’ve updated our tokenomics:
Initial supply: 3,000,000 SHADOW/xSHADOW
Maximum supply: 10,000,000 SHADOW/xSHADOW
The initial token distribution is as follows:
- Contributors: 25%
- Presales: 25%
- Airdrop: 10%
- Partners: 10%
- Protocol-Owned Liquidity (POL): 10%
- Reserves: 15%
- Community Incentives: 5%
Initial Supply Breakdown
- Airdrop: 300,000 xSHADOW
- Partners: 300,000 xSHADOW
- Contributors: 750,000 xSHADOW
- Presales: 750,000 xSHADOW
- Protocol-Owned Liquidity (POL): 300,000 SHADOW
- Reserves: 450,000 SHADOW
- Community Incentives: 150,000 xSHADOW
The airdrop is divided into two parts:
- 7% for veRAM holders
- 3% for NFT Airdrop
Token Sale and TGE
- Total allocation: 300,000 xSHADOW
- Price: 2.5 FTM per xSHADOW
- Maximum per wallet: 2,500 xSHADOW
- Total Fantom to be raised: 750,000 FTM
- Date: November 1st, 2024
Following the token sale, Shadow’s official launch is scheduled for December 2024. This launch will mark the beginning of the Token Generation Event (TGE) and the start of token emissions.
Stay tuned for more detailed information about Shadow’s architecture and the launch process as we approach these key dates.
Join the Shadow Exchange Community
As we embark on this exciting journey, we invite you to join the Shadow Exchange community and be a part of the future of Sonic:
Website — shadowdex.fi
Twitter — @ShadowOnSonic
Discord — discord.gg/shadowexchange
