Introducing OnigiriSwap and $ONIGIRI token
🍙 Why OnigiriSwap?
It’s just rice made rolled into a ball or any other shapes and sizes, whatever the patron sees fit. Onigiri is unpretentious and it is enjoyed by patrons of all walks of life without prejudice. — Onigiri is made for everyone! Just like the unpretentious Onigiri, OnigiriSwap does not pretend to be anything other than what it is; providing sound Tokenomics coupled with a tried and tested AMM based on Uniswap. (No fancy groundbreaking tech here. As the age-old adage goes — why fix it if it is not broken)
Let us dig in!
🍘 For Starters
$ONIGIRI Holders will be entitled to Governance rights and a portion of the fees paid to the protocol. Giving ownership of the protocol to $ONIGIRI holders.
$ONIGIRI is designed to be deflationary
Only a limited amount of $ONIGIRI will be generated before we reward our stakers with a buyback or burning of tokens with revenue generated from the protocol. — Those who hold on to their $ONIGIRI will potentially be rewarded.
Upon migration, OnigiriSwap will charge a transaction fee of 0.3%. Of which it will portion 0.25% to liquidity providers while the remaining 0.03% will be burnt (decreasing the supply of $ONIGIRI) and the other 0.02% of the $ONIGIRI will be distributed back to all $ONIGIRI holders and stakers.
As for the DEX after migration, it will be a Uniswap and SushiSwap alternative, with a twist. — Details are hidden for now to avoid front-running of ideas.
One of the core features is an interoperable DEX. We will be planning on the full launch of the working product on the Polkadot environment, enabling OnigriSwap users to trade in other Polkadot-based tokens. Our vision is for OnigriSwap to offer cross-chain pools, by taking advantage of Polkadot’s bridges such as BTC, ETH and USDT.
Oh and did we mention ; Dev Funds will be locked at a two weeks interval. Limiting our own power to withdraw at our whim and fancy. So you don’t have to worry about admin dumping! We’ll only liquidate what is needed for our development funds and we’ll detail them in an open manner via Discord. — The funds will be used to pay for future development and bring our community a more sophisticated product thus further expanding our value in the future!
Hey who said onigiri has to be plain! ammirite?
📈 Main Course/ Token Distribution
$ONIGIRI will be rewarded for staking Uniswap/Sushiswap LP tokens and by providing liquidity to OnigiriSwap DEX upon migration.
At every block, only 20 $ONIGIRI will be minted and distributed equally to the stakers of each supported pool. The reward will halve every 100,000 blocks till 1,200,000 blocks; at which the community will decide if $ONIGIRI will continue to be minted or stopped entirely. Instead, stakers will be rewarded based on the transaction fees charged for the usage of the DEX detailed above.
For the first 200000 blocks (~30days) 80 $ONIGIRI will be created per block. Giving early adopters 4x the reward.
Rewards blocks 10,990,000–11190000 = 80 $ONIGIRI
Rewards after 11190000 = 20 $ONIGIRI
Rewards after 11290000 = 10 $ONIGIRI
Rewards after 11390000 = 5 $ONIGIRI
Rewards after 11490000 = 2.5 $ONIGIRI
Rewards after 11590000 = 1.25 $ONIGIRI
Rewards after 11690000 = 0.625 $ONIGIRI
Rewards after 11790000–12290000 = 0.3125 (halving will stop from block 11790000 and no new $ONIGIRI will be minted pass 12290000 if the community so choose)
P/s: We hope the $ONIGIRI community will support the proposal of a limited total volume to avoid dilution and maintain project sustainability.
The initial set of available pools: (To mitigate whale dumping on us at the start by limiting Non- Onigiri Pairs to just 3, this we believe will level the playing field as our user’s fund won’t be spread thin)
- CeFi Stablecoins: USDC — $ONIGIRI, USDC — ETH
- WBTC — ETH
- DeFi Stablecoins: DAI — $ONIGIRI, DAI — ETH
- Mining Aggregator: YFI — $ONIGIRI
- Delicacy: ETH — $ONIGIRI (5x reward)🍙🍙🍙🍙🍙, UNI — $ONIGIRI,
Proposed $ONIGIRI pair to be added via community voting :
Proposed non-$ONIGIRI pair to be added via community voting :
- Cefi stablecoins : USDT — ETH
- Defi stablecoins : sUSD — ETH
- Oracles: LINK — ETH
- Mining Aggregator: YFI — ETH
When $ONIGIRI governance is online, $ONIGIRI holders can propose a change to the OnigiriSwap protocol. Changes might include adding new pools, changing the $ONIGIRI weight or sunsetting a current pool.
🍢Suggested Dessert/ Pipeline (Proposed by governance)
SushiSwap LP
Double Token: UNI/ ONIGIRI
OnigiriSwap LP (Migration)
And many more!
👩💻 Dev Fund & Initial Dev team
To ensure the long term goals and sustainability of the project. 6% of the $ONIGIRI will be distributed to the developers for the first 300000 blocks. After which, only 3% of $ONIGIRI will be distributed to the developers. — The funds will be used to pay for the continued operation of the protocol and improving your experience with $ONIGIRI.
As mentioned above; Dev Funds will be locked at a two weeks interval.
Find us at OnigiriSwap Discord community!
Want to be part of the team? Let our Chef Onigiri know and we will get you something!
💻 Smart Contracts
All OnigiriSwap related smart contracts are open source at https://github.com/onigiriswapfi/onigiriswap with 🅦WTFPL license.
🍙 OnigiriToken: the $ONIGIRI token contract
👨🏻🍳 MasterChef: deposit Uniswap LP tokens to farm $ONIGIRI
🏛 GovernorAlpha+Timelock: $ONIGIRI holder governance
🦄 Uniswap V2: for liquidity migration
👨💻 DevFunds: Developer fund locked
We will keep updating the project process to GitHub.
🔐 Security
At our current state, we are not yet audited however we took codes from audited sources such as Sushi and Uniswap. However, we will be inviting known security audit firms to audit our codes paid for with our dev funds.
🍥 Itadakimasu!
OnigiriSwap: https://onigiriswap.finance
Twitter: https://twitter.com/OnigiriSwap
Discord: https://discord.gg/3kNrKnx
GitHub: https://github.com/onigiriswapfi/onigiriswap
Telegram: https://t.me/OnigiriSwap_Official
