Introducing smol finance
We are excited to introduce smol, not only to the world of DeFi, but also to the world of NFT’s and the entire crypto ecosystem. Giving every smol voice a big part in not only the development of the project, but also the direction we move towards in the future.
What is smol?
Smol was created as not only a test of true open source development, but crowd sourcing and decentralization itself. Smol is truly a community based project for people not just in it for the money or clout, but to be a part of something smol, yet big. A project for anyone to be able to take the reigns and contribute in their own way is at the heart of what our entire industry was founded on. Bringing everyone together to work on an adjustable, yet common goal. Lending your talent or idea to the project is what we envision smol to be. From coding to memes, we accept everyone and welcome all contributions.
— Visit https://www.smol.finance/ to stay up to date with smol.
Where did smol come from?
You may know smol from the smol twitter and some of the smol videos, but let’s dive a little deeper into the origins.
Smol was started as an airdrop in the public cryptocurrency Telegram channel Coinmarkets. Coinmarkets chat, Originally founded in 2014, has been a longstanding hub for crypto veterans and noobs alike. This chat room has been, and is continuously frequented by many known industry names.
From the start, smol has been entirely community driven, even the name being decided on in a community vote. We were all tired of buying projects and relying on a couple of developers with no accountability to deliver a product we wanted. So instead, we decided to try an experiment, find out what happens when we give a public and long standing community an equal part in developing a new project. Voice, opportunity and incentives can all be aligned now to help develop a project that everyone desires and can benefit from.
The airdrop was announced publicly by Jebus911 on twitter, the main channel where the link to join Coinmarkets is posted, and from there the community took over the project.
Smol Token info
On September 24th, the smol airdrop happened after more than 24 hours of notice to all members in the Coinmarkets chat room and multiple Twitter announcements. During this time the Telegram room was a public room that members could invite whomever they saw fit. Those who found the room on their own were more than welcome to join the team as well. Smol.finance began with one of the most fairly distributed airdrops of all time — This includes no tokens reserved for the dev team, and most importantly — no hidden pool(s) for insiders. All smol tokens that will ever be created are currently in circulation — 55,000 smol were airdropped to a Telegram room with no incentives promised, implied or even a clear vision of what the future of smol would entail.
Uniswap.info : https://uniswap.info/pair/0x600cf1c039e1fd31bc4762a39d322dd8977dd1ab
The airdrop provided 100 smol to 540 people and with the additional 1,000 smol used to help fund initial LP. All liquidity has been provided by the developers to date. At the time of writing this article the Smol/Eth market has a total of 126 ETH and 2,578 smol providing liquidity. This comes out to roughly $105,000 from a development team that consists of over 170 team members. That itself is an amazing achievement and should be celebrated by all Smoldiers!
What is the plan for smol now and moving forward?
The current focus of the smol community is creating a foundational NFT minting platform to build liquidity incentives and stabilize the market. Our plan for this phase of the project is to build an internal NFT ecosystem that will marry the vast potential of NFT’s with the incentive structure of DeFi to create a new type of yield farming, and that’s just the first step.
Smol is the main token of the ecosystem. Holding smol will allow you to farm TING and buy smol NFT’s, as well as join the community of devs and decision makers in the private chat called smoltidel. Anyone can join smoltidel to contribute to development, decision making, meme creation, marketing or just to follow the entire process.
Joining the smoltidel Telegram is available to anyone holding 100 smol tokens, or contributing $2000 of liquidity on Uniswap.
“I view this as a brand new coin distribution model and type of cryptocurrency project. I’m incredibly excited about it.
I’ve seen so many projects opine about how solid their communities are just to falter and fail because of centralized devs. This model fixes that problem and moves the most important aspect of a project from the devs to the community. The community are the devs and the devs are the community. If one of us fails there will be 150 standing behind them to pick up the slack.
We’re going to get to start small and actually build something from the ground up, together, using hundreds of years of combined crypto experience. No more waiting in public rooms hoping things are going well behind the scenes. Anyone can be behind the scenes with us and we can build incentives both for our current community and future community members through DeFi infrastructure.
I’ve been in coinmarkets since day 1 and I’ve seen them help so many projects only to have the devs let them down in the end. I’m beyond hyped to see what they do now that the ball is in their court.”
-Jebus911
We are in process of a more detailed blog post so stay tuned to smol social media and this blog for more information coming soon.
Visit smol.finance or smol.twitter to keep up to date with all of our future updates. Join the public smol.telegram to chat with the community.
