DGVC V2

We have spoken about it for some time — now we launch.

Fraser Brown - Degen VC
May 2 · 2 min read

DGVC V2 is a Fee On Transfer (FOT) token with the following benefits:

  1. Those holding UNI-V2 LP tokens will receive Alphadrops;
  2. The FOT will dampen $DGVC V2 price volatility between Alphadrops.
  3. FOT revenues will be sent to a Liquid Vault offering 10% discounted LP tokens with a 10 day lock period. The ETH generated will provide initial liquidity for new Alphadrops.

“3” is the innovation that has not been introduced before in the DGVC 2 discord discussion active since last September. By using the ETH from the Liquid Vault as liquidity for new Alphadrops the FOT value is fairly and effectively awarded to the DGVC LP that holds for Alphadrops. In some ways, the Liquid Vault becomes “Degen VC” because its capital will attract projects to launch via Alphadrop. The FOT will be 2% on Uniswap buys and 4% on Uniswap sells. Normal transfers will be 0%.

Supply Considerations

We will expand the token supply to 10-million tokens. 1-million tokens are swapped to token and LP hodlers. 9-million tokens will be accessible via a treasury smart contract that only permits these tokens to be sent to the Liquid Vault or burned. The Liquid Vault will be coded to burn some of the incoming FOT, therefore, when the community decides it is a good idea to boost the Liquid Vault with more DGVC V2 tokens (effectively boosting the liquidity generated to attract new #Alphadrops) the burn function can, over time, reduce circulating supply to its current size.

The DGVC V2 token / Liquid Vault combination also opens up new potential for expansion. Other networks have different liquidity than Ethereum, for example, Binance Smart Chain has BNB and Avalanche has AVAX. Each also has a suitable AMM for Liquid Vaults — Pancakeswap and Pangolin respectively. Degen VC will therefore commence a roll out of new DGVC FOT tokens on other chains with each new token being distributed via #Alphadrop based on the Ethereum Chain $DGVC LP. We will not stop at BSC and Avalance. We will look at Polkadot, Solana, Cardano and others when the time is right.

What’s Next

  1. One smart contract will allow for simple token to token swaps.
  2. Another smart contract will allow for DGVC UNI-V2 LP to DGVC2 UNI-V2 LP token swaps.

More information on these mechanics will be released in the next week to 10-days.

degen.vc

A #DeFi ecosystem designed to front-run Venture Capital

degen.vc

Degens replace VCs #defi | Web www.degen.vc | Twitter @degen_vc |Telegram https://t.me/degenvc | Uniswap https://app.uniswap.org/#/swap?inputCurrency=0x26E43759551333e57F073bb0772F50329A957b30

Fraser Brown - Degen VC

Written by

degen.vc

Degens replace VCs #defi | Web www.degen.vc | Twitter @degen_vc |Telegram https://t.me/degenvc | Uniswap https://app.uniswap.org/#/swap?inputCurrency=0x26E43759551333e57F073bb0772F50329A957b30

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