Glide Community Zone

It’s been just under 3 weeks since Glide launched on the Elastos Smart Chain (ESC) and so far the feedback, community engagement, and total value locked (TVL) has exceeded our expectations.

While Glide’s primary mission is assisting in the adoption of Elastos technologies by establishing a solid base of liquidity, we’re also simply members of the community and want to see it thrive.

The introduction of the analytics page last week was followed by a spike in token liquidity pools on the Glide platform, including both new tokens and old ones created back before ESC had much activity. This has created some excitement/fun for the community and help fills the gap between now and when we have more projects building on ESC.

That being said, it’s important that Glide is perceived as a serious platform for projects with dedicated teams and real token utility. It’s also important that the Glide team remain an impartial 3rd party and don’t play favorites regarding which projects we choose to support, especially prior to governance being live. For this reason we can’t offer GLIDE liquidity incentives for every token created, but what we can do is use our toolkit to assist community projects in providing their own liquidity incentives.

Small ideas can often grow into something much more, so we hope this service can support projects who lack the technical skills to create their own staking contracts or don’t wish to dedicate the resources to it.

In time, if a project with humble beginnings really stands out and develops a substantial following or use-case, we may consider creating a governance proposal to have it added to Glide as one of the core farms. For now, we’ll start this off as an experiment and see where it leads.

Guidelines

The details of the ‘Community Zone’ incentives program will be as follows:

• Community projects may request that the Glide team create a staking contract for their token and make it available on the app at https://glidefinance.io/community.
• Staking pools will always involve depositing Glide-LP tokens, and receiving a single token as a reward which is supplied by the token owner. For example, stake TUNA-ELA LP, earn TUNA. To keep swap routing simple, tokens must be be paired with ELA, and staking contract support on Glide will be limited to 1 per project.
• Each project is free to set their own rewards rate. They will need to provide us with a desired staking pool duration (i.e. 60 days), and a total number of tokens to distribute over that period. The minimum pool duration will be 30 days.
• We will also instate several basic requirements to be met in order to be eligible for the program:

1. The token contract should be verified on the explorer (https://esc.elastos.io/). This enables everyone to see the code and interact with the functions there if necessary. The Glide team will assist with contract verification if required.
2. If the token contract was generated using the ELAbank tool, we will request that token owners renounce their mint access, or provide a good explanation as to why they want to keep it. For custom contracts we will do a quick check for potentially dangerous functions such as mint, freeze or special modifiers.
3. The token should be at least 7 days old
4. The token should have at least 50 holders

While these are some basic protections we’ll check for, please note that satisfying these requirements does not equate to an endorsement from us and does not eliminate all risk from bad actors. It is ultimately the responsibility of the end user to verify a project before participating in a liquidity program.

For projects interested in participating, please get in touch on Telegram and we’ll discuss. The community zone will open this week.