For the last 2 months, the Avalaunch Farm has served our community well. It has been a place for our XAVA holders to gather, earn plentiful rewards, and support essential liquidity for the token. It saw millions of dollars locked in TVL, drew attention to the entire ecosystem and allowed users to earn future IDO firepower while we readied our platform for launch.
However, the time has come to let the sun set on the current farm and rise on a brand new one. As we prepare for the launch of our allocation farming contracts, which require the XAVA token for staking, there is a bit of housekeeping that needs to occur. Primarily, the migration of LP tokens from the old farm to the new farm, and a brief pause on the single-sided XAVA staking.
This migration is the final step required before deploying our allocation staking contracts and signals the next chapter of the launchpad.
Read on for all the details and a sneak peek into what you can expect from the Avalaunch Allocation Staking (AAS).
The Legacy Farm
The old Avalaunch Farm can now be found at legacy-farm.avalaunch.app.
If you were previously farming with your XAVA-AVAX LP tokens or XAVA tokens, your stake and unharvested rewards can be found here. The Legacy Farm will stay up as long as it needs to, and there is no urgent need to claim and unstake your tokens.
If you would like to continue to earn LP rewards, please unstake and migrate your tokens to the new farm. While we transition LP tokens over to the new farm, the current LP rewards will be increased by ~20% as liquidity moves over.
The New Avalaunch Farm
The new Avalaunch Farm can be found at farm.avalaunch.app.
The LP reward program will exist here exactly as it did in the old farm, i.e, stake your XAVA-AVAX LP tokens and earn XAVA rewards. The only difference here is that the rewards will be slightly increased for the time being.
Apart from that, you will probably notice that the single-sided XAVA staking is no longer available. This is because the single-sided staking is evolving into our allocation staking.
Allocation Staking
Before we begin, please note that this contract has not been deployed yet, and it’s important to us that everyone has plenty of notice before we do. This is one of the key components being tested in our community testing and will be ready for the public very soon.
What is allocation staking? And how does it work within the Avalaunch platform?
Instead of staking XAVA to earn only XAVA, you will now be staking the token to earn both allocation in upcoming sales and additional allocation power by earning more XAVA rewards. The allocation staking makes up the core of our platform and gives XAVA (for now) much of its utility.
Allocation Staking Rewards
Staking XAVA doesn’t just earn you allocation in sales, but also the potential to earn more power in the system. The rewards users can potentially earn in our Allocation Staking application are three-fold:
- IDO allocation
- XAVA tokens from ecosystem rewards
- XAVA tokens from platform fee redistribution
To some of you, point number three is news. To everyone that has been paying very close attention, this is something you may have already gathered. Without going into all the details just yet, it makes sense to highlight some of the implications of such a mechanism:
- Smaller holders can grow larger over time.
- The longer you stake XAVA, the more allocation power you have.
- You don’t have to exercise your allocation, and if you choose not to, you’ll earn off the stakes of those that do.
- New entrants into the system pay long-term stakers.
- As Avalaunch grows alongside Avalanche, and the sales grow larger, so does the earning power of XAVA.
- You do not need to KYC or participate in sales to earn from the network growth of Avalaunch.
We are going to be releasing a full article about this shortly that covers the specific mechanisms at play, numbers and the philosophical underpinnings of the contracts.
But what we can say upfront is that it is designed to:
- Support the XAVA token
- Reward holders
- Redistribute wealth
- Grow in parallel to the success of the platform
- Offer projects committed, properly incentivized token holders
Wrapping Up
The “launchpad problem” is a tricky one. And at some point, you have to choose your version of fair, own it, and build toward that vision. Our team truly believes that Avalaunch is special and offers teams a unique and powerful way to kickstart their community and project.
As we move through our community testing and put the finishing touches on the platform, we are more excited than ever for the future of the Avalaunch platform and what we have planned for our community. Thank you all for your continued support!
About Avalaunch
Avalaunch is a launchpad powered by the Avalanche platform, allowing new and innovative projects to seamlessly prepare for launch with an emphasis on fair and broad distribution. With its values deeply rooted in the early Avalanche community, we are able to offer projects confident, informed users who are aligned with the long-term goals of the rapidly expanding application ecosystem.
Leveraging Avalanche’s scalable, high-throughput, and low-latency platform, Avalaunch is built by users, for teams, to help grow strong communities.
