Introducing VidyGold.Finance
Advertising for Token Project projects with LP DeFI Protocols
Motivation
The AMM pool has become a very important crypto primitive in DEFI as a place to not only list and trade tokens, but also to provide price feeds that other projects can build upon. VidyGold Finance is the new swap protocol inspired by the previous AMM-based swap protocols such as Uniswap and SushiSwap. Besides SWAP Application Development, Vidygold is also developing a DeFI advertising system to develop the DeFI Project community
VIDYGOLD TOKEN
The Vidygold (VIDG) token will be given to Liquidity Providers (LPs) to incentivize them to stay with the protocol. Holding the VIDG token means holding a share in the governance of the protocol. All VIDG token holders can decide the subsequent chains to implement VidySwap on, how much VIDG to distribute to LPs in the new chain, which new token projects VIDG should support, etc.
The Economics of Token Farming
Essentially, the purpose of token farming is to distribute a certain amount of protocol tokens over time. However, over the long term, the token has value if, and only if, the protocol is valuable. We can break down the long-term values of a protocol into several sustainable qualities such as: product innovation; product utilities; network effect of the community of contributors and users; and defensibility over forks and clones etc. Token distribution can have the biggest impact on solidifying the network of the community of users and contributors, and in our view it has to be designed carefully to prevent short-term opportunistic yield farmers who sell immediately and leave the protocol as soon as the farming yield drops. Furthermore, token distribution via yield farming can strategically support pools in which the majority of pool liquidity will reside in VidySwap over the long term.
Token Distribution
VIDG Maximum Supply was 100,000 Token VIDG. The base reward is 0.0004 VIDG per block divided across all existing VIDG LP pools.
Distribution
- Private Sale, Presale and Add Liquidity
- Private Sale : 2,000 (Price 1 VIDG = 6 USD) (October 08, 2020)
- Presale: 5,000 VIDG (Price 1 VIDG = 8 USD) (October 10, 2020)
- Add Liquidity : 3,000 VIDG (Price Start 10 USD) (October 12,2020)
2. Minting
The base reward: 0.0004 VIDG per block divided across all LP pools.
- 190110 Block (Estimated Time 1 Month) with rewards have a 128 x 0.0004 VIDG. Daily Minting estimated was approx. 6337 Block or 324.4 VIDG. 25% VIDG was not locked token, and 75% was locked for 1 Years.
- For Next 190110 Block (Estimated Time 1 Month) with rewards Halving or 64 x 0.0004 VIDG Rewards. Halving Untils Reward 1 x 0.0004 VIDG. All Minting Process Approximately 8 Month.
- Total Distribution Every Month:
Month 1 : 9,732 Token (2,433 Unlocked, 7,299 Locked 1 Years)
Month 2 : 4,866 Token (1,216 Unlocked, 3,649 Locked 1 Years)
Month 3 : 2,433 Token (608 Unlocked, 1,824 Locked 1 Years)
Month 4 : 1,216 Token (304 Unlocked, 912 Locked 1 Years)
Month 5: 608 Token (152 Unlocked, 456 Locked 1 Years)
Month 6 : 304 Token (76 Unlocked, 228 Locked 1 Years)
Month 7 : 152 Token (38 Unlocked, 114 Locked 1 Years)
Month 8 : 76 Token (19 Unlocked, 57 Locked 1 Years)
Total Minting for 8 Month : 19,387 Token, 4,846 Token Unlocked, and 14,540 Token Locked for 1 Years
Initial Pools Farming
VIDG — USDT LP
VIDG — VIDY LP
VIDG — ETH LP
Liquidity Migration
Farming VIDG on DeFI System VidyGold will start by staking Uniswap LP tokens from our Uniswap Pools approximately October 23, 2020.
Treasury Fund
An additional 10% of all VIDG distributions will be set aside for the VIDG treasury. The VIDG treasury will be spent on auditing, development, rewarding contributors, and supporting new token projects by providing liquidity to VIDG/new token pool. All spending proposals will be submitted via VIDG governance platform. Similar to the Uniswap’s current setup, all the trading fees (0.3% of swap values) will be shared with the pool’s liquidity providers.
Later on, governance can trigger the smart-contract to impose a withdrawal fee of 0.5% or a time decaying fee on liquidity provider withdrawals and direct that revenue to VIDG token holders. This proposal will reward token holders at the expense of short-term liquidity providers while keeping the fee share of loyal liquidity providers relatively stable.
Smart-Contracts
The contracts are available at
The main 3 contracts are:
- Vidygold Token: VIDG token contract. Implement token emission with vesting. Built-in voting with VIDG token (Compound voting module)
- MasterFarmer: Deposit LP tokens to farm VIDG with new allocation points.
- LP : LP Contract From Uniswap V2
All contracts written have reasonable test coverages and subject to internal auditing. You can start depositing Uniswap LP token using the interface at
https://vidygold.finance/
You will begin to farm VIDYGOLD Token starting Approx October 23, 2020
