Pre-launch Announcement: Mare Finance
Overview
Mare Finance is a native lending and borrowing market on Kava EVM based on Compound Finance, with a unique bribe-reward tokenomics.
Goals
DeFi activity on Kava EVM started to gain traction as Coinbase listing occured and we believe it has huge potential going forward.
We have 2 main aims:
- Gather TVL to Kava EVM with great yields without impermanent loss.
- Be the prime liquidity market with competitive incentives compared to other money markets thanks to unique tokenomics.
Mare Finance will have no governance at start, instead it has revenue generating token earning the platform fees and VARA rewards that are coming from Equilibre Finance. (See documentation for further information.)
Utility
Mare Finance is generating revenue through different reserve factors for different pools when users borrow from the liquidity markets. 80% of this revenue goes to sMARE stakers in first 3 months. After the first 3 months, 100% of the revenue goes to MARE stakers.
Also, Mare Finance introduces a unique bribe-reward mechanism leveraging Equilibre Finance for MARE /USDC liquidity. In short it can be explained in these steps:
Mare-Equilibre bribe-reward mechanism.
- Mare bribes VARA stakers.
- $MARE goes to VARA holders.
- VARA holders vote for MARE/USDC
- MARE/USDC LP farm APR on Equilibre increases.
- Mare stakes LP from LGE on Equilibre to earn VARA. Mare Finance distributes 80% of the VARA rewards to sMARE stakers.
sMARE stakers will both get the revenues from Mare Finance and VARA tokens.
Liquidity Generation Event (LGE)
The MARE token launch will be one of the fairest of DeFi, and it will be based on SONNE token liquidity generation event.
Participants will put USDC into our LGE contract, it will paired up with 2,500,000 $MARE. The initial liquidity will be locked for 180 days, ensuring early deep liquidity.
Users who deposit USDC into the LGE contract at any time during the LGE will be apportioned a proportional share of the LGE regular allocation. (3,2% of the total supply of MARE)
As an additional incentive, users who deposit during the first day will be apportioned a proportional share of the LGE bonus allocation. (0,3% of the total supply of MARE)
Claimable MARE will be based on share of the total deposits at the end of the bonus period. There is no front-running and being first or last to deposit for either distribution doesn’t matter.
Visit docs for further information.
Distribution
Launch Airdrop
The launch airdrop will target the following:
- Equilibre Finance users (veVARA holders included.)
- Mare Finance Discord members
- First week sMARE stakers
The airdrops will be claimable in https://mare.finance after launch. Further details will be announced in Mare Finance discord channel in the coming days.
Links
Twitter: https://twitter.com/MareFinance
Discord: https://discord.gg/A3vcStdX4s
