Introduction
NETT token is the governance token of Netswap.
The liquidity mining program is aiming to distribute 99% of NETT tokens through a fair way.
As we described at the litepaper, no NETT tokens are allocated to the team, investors, advisors, or any sort of insiders. Therefore, Netswap is entirely community-driven and entirely community-owned. NETT is capped at a supply of 100 million tokens, 100% of which will be distributed to the community. The first 1%, or 1 million tokens, are dedicated to a community airdrop, which has been minted. The remaining 99% of tokens, or 99 million tokens, will be mined by the liquidity mining program.
The vesting schedule of mining is algorithmically specified as follows: starting from 29.7 M tokens(30%) for the first year, the number of tokens distributed will be reduced by 5% each year, until the distribution is complete. For reference, during the first year, roughly 81369 NETT will be distributed per day to liquidity miners. The full schedule of distribution of NETT in the liquidity mining allocation is shown below:
In order to incentivize early participants and NETT holders, the allocation ratio will be tilted towards the NETT-related pool. The allocation ratio of the remaining pools is set according to the size of the liquidity.
At the same time, an additional 10% of each output reward will be issued to the dev team for technical incentives and project maintenance. It can be modified after the opening of Netswap governance.
Schedule
The liquidity mining program will start at 15:00:00 UTC, Jan 9th, 2022.
We define the early stage of the farm as 15 ~ 30 days from the opening of the program. We will not add any new pairs to the farm until the end of the early stage. After that, there will be some rules for the new pairs who wish to join the farm, which will be announced in the near future.
Initial Supported Pairs
The rate of initial supported pairs will not be modified easily unless we see some unbalanced situations occur.
Double Rewards Pool
The farm is designed to support double rewards pools based on MasterChefJoeV2, which allows the third-party project to provide their token rewards to related LP tokens. This function will be activated after the early stage. Also, Netswap may possibly incentivize the initial pools through this way, please stay tuned.
Welcome to our liquidity mining program. Enjoy!
