Announcing Rebrand and Tokenomics Overhaul
Dino fam! We are in the process of rebranding and overhauling the Tokenomics of DinoSwap. We’ve carefully considered all aspects of this decision, and are very excited to formally announce our rebrand of DinoSwap to Greenhouse. Greenhouse will continue to be a decentralized exchange and liquidity aggregating platform, with some key differences that will allow us to grow sustainably and reach new heights with our community. DinoSwap’s existing size, services, partners, and well-established community will make this a smooth transition that we’re sure everyone will find beneficial — especially those looking to achieve sustainable yields and projects looking to launch their tokens.
Greenhouse Swap
Greenhouse Swap will replace the DinoSwap DEX and continue to offer ultra-low trading fees of 0.18% per transaction. We will use 100% of these fees for token buybacks and burns of the new GREEN token.
We will also announce a unique focus of our DEX next week which will emphasize the power of decentralized money on the Polygon ecosystem.
Next week further announcements will also be made regarding the timing of release and usability of the Greenhouse ecosystem. Please stay tuned, no action is required at this time.
Greenhouse Farm
Greenhouse Farm will be the new name for the Fossil Farms. We will continue to partner with projects looking to build liquidity on Polygon (and additional chains) by offering incentivized liquidity mining programs through Greenhouse. We are overhauling the yield farms to introduce additional revenue-generating features for the protocol and will have further announcements next week regarding the details of these farms.
Greenhouse Pools
The Greenhouse Pools will be replacing the Jurassic and Extinction Pools. We will continue to have a single-asset staking pool for the native GREEN token and will offer burn pools for our partnering projects. Similar to the farms, we will introduce additional revenue-generating features for the protocol through the pools. Further announcements on details will follow next week.
Why Rebrand?
Over the past 6+ months, DeFi protocols have experienced a large shift of capital outwards to the metaverse, NFTs, and gaming projects. However, experts have speculated, and we agree, that large influxes of capital will soon move back to DeFi and we need to be ready for this. A major issue early on with DinoSwap was our inflation. Our desire to provide high yields in the face of a declining macro environment (not only experienced by DINO but by most DEX protocols) led to a negative feedback loop on the token. We have learned from this experience and Greenhouse will utilize net deflationary mechanisms to offset the inflation pitfalls that challenge existing DEX and Yield Farms. Again, more details on this will be released next week.
Additionally, we believe a more serious, buttoned-up brand is required for mass adoption. Brands with whimsical and less-serious branding were part of Defi 1.0, and we believe to move forward, serious branding must lead the way.
Lastly, the protocol becomes more attractive to new users and new partners with a fresh brand, new tokenomics, and mechanisms that focus on preserving the value of the reward token (GREEN). As such, we believe the brand change enhances our business development capabilities going forward.
As the name suggests, Greenhouse will be a place with tightly controlled variables that produce sustainable yield year-round on a continuous basis. We are excited to adopt a more serious and mature brand and service the needs of DeFi users.
Token Burns and Sustainability
As of now, Greenhouse (aka DinoSwap) has two primary burning mechanisms running simultaneously. The primary mechanism is that 100% of the fees from the Greenhouse DEX are used to buy back and burn GREEN tokens. Our team’s top priority is increasing volume and burning as much GREEN as possible because of the beneficial flywheel effect that occurs with increased usage of the products. We believe we have an excellent strategy to achieve this which was briefly hinted at previously in this article. See if you can figure it out…otherwise, stay tuned for next week’s detailed announcements.
In the document we will release in the upcoming days, you will find several sustainability guidelines we will adhere to when onboarding new projects (i.e. launching new farming pairs) that will, in effect, reduce inflation, create sustainable yields and lower the barrier to entry (in terms of capital, NOT quality) for onboarding projects.
Roadmap Sneak Peak
We will provide a more detailed roadmap next week, however, a summary of our upcoming initiatives can be found below:
- Greenhouse Rebrand
- Greenhouse Protocol Goes Live
- DINO-to-GREEN token migration goes live
- Partnership Expansion
- Cross-chain integration
- Third-party NFT burn pools
- Greenhouse NFT Sale
- Greenhouse NFT utility introduced
- Third-party integrations
Next Steps and Preparing for Token Migration
At this time, no steps are required by the community. If you are providing liquidity or staking, you can continue to do this for the time being. Users of the tarpits will continue to earn their yield as well, but we will not be bringing these forward to Greenhouse. In fact, entry to the Tarpits will be disabled going forward. As for the token migration from DINO to GREEN, we will release another article outlining all of the details and a link to the swap page will be provided when it goes live.
Please stay tuned to our social channels as this transition is happening in real-time behind the scenes and won’t take very long to complete. Website design and smart contracts are ready and just being tested. Please do not interact with any addresses or contracts claiming to be involved with Greenhouse outside of the ones we will direct you to.
Follow our social channels closely for the official announcement. We would like to thank the community again for their ongoing support and we’ll be seeing you soon in the Greenhouse!
