Buidl. Buidl. Buidl.
We’ve been coding throughout the whole November
As we are late with our November Update, we will keep it quite short this time. We have been focused on building stuff. And that sometimes just needs one resource: time!
We developed our staking contracts for the LP Program and the XFL HODL Program that we started December 2021, 1st.
The Liquidity Provider Subsidy Program
The launch of Flame Token (XFL) happens on a Decentralized Exchange (DEX), in our case on SushiSwap. Unlike centralized exchange (CEX) order books, DEXs use liquidity pools to facilitate trades. Liquidity pools on DEXs are automated market maker (AMM) algorithms, which maintain the price of tokens relative to one another within any particular pool. The SushiSwap liquidity pools use a constant product formula to maintain price ratios. The formula maintains that tokens in a liquidity pool must remain at a fixed relative value. SushiSwap uses the formula x * y = k, which maintains that a pair of tokens in a liquidity pool must remain at equal total values. By fixing the relative value of the tokens, the formula is able to automatically determine pricing.
AMM liquidity pools remove the need for a centralized entity, and as a result, they require a sustained outside source of liquidity to function properly. This is where liquidity providers (LPs) enter the equation. Liquidity providers are individuals or organizations who deposit tokens into a liquidity pool so that traders can purchase or sell tokens on a DEX.
The liquidity pool on SushiSwap contains USDC tokens and XFL tokens as trading pair. In the beginning, we added $5,000 worth of USDC and $5,000 worth of XFL to the USDC/XFL liquidity pool. In exchange, we received SushiSwap Liquidity Pool Tokens (SLP). LPs earn a return on these tokens as long as they hold them. This return comes from the trading fees generated by the USDC/XFL liquidity pool. The fees are 0.25% of all trades proportional to the LPs share of the pool. Fees are added to the pool, accrue in real-time, and can be claimed by withdrawing liquidity.
If you become a liquidity provider in the USDC/XFL liquidity pool, we give you the opportunity to maximize your LP tokens by participating in our SLP pool. This happens by staking your USDC/XFL SLPs in our LP Program pool and earning XFL.
So, the steps are:
- Deposit USDC and XFL to the USDC/XFL liquidity pool in SushiSwap.
- Receive USDC/XFL SLP tokens.
- Deposit USDC/XFL SLP tokens into our LP Program pool, amplifying returns.
The program will run for 100 epochs and each epoch will last 1 week. At the end of the epoch, the user can harvest their XFL. This initiative will be granted 4,200,000,000 XFL and each epoch will have 42,000,000 XFL to start.
Further information: https://flametoken.io/liquidity-program/
Yield Farm: https://app.flametoken.io/yield-farming
The XFL HODL Program
We allow XFL token holders to use their XFL to farm more XFL generating passive returns.
The program will run for 50 epochs and each epoch will last 1 week. At the end of the epoch, the user can harvest their XFL. This initiative will be granted 840,000,000 XFL and each epoch will have 16,800,000 XFL to start.
Do your own research, and follow Flame here:
Flame Token homepage: https://flametoken.io/
Sharesome: https://sharesome.com/FlameToken/
Twitter: https://twitter.com/FlameToken
Discord: https://discord.gg/sharesome
Telegram: https://t.me/FlameTokenNews
Reddit: https://www.reddit.com/r/flametoken
Medium: https://medium.com/flametoken
Best regards
Ralf Kappe, Flame CEO & Founder
https://sharesome.com/RalfKappe/
https://twitter.com/RalfKappe
