BORGSWAP Enters the Fantom Dimension

Published in

TheBorgToken

3 min readMay 7, 2021

Lower Fees and Quicker Transactions Going at Warp Speed

What is Fantom?

Fantom is a parallel blockchain that is strikingly similar to Ethereum, except that it is secured by the aBFT consensus algorithm which allows it to scale higher, process more transactions per second and provide transaction confirmation in 1–2 seconds.

Learn more about Fantom at Fantom.Foundation

What makes Fantom Competitive?

Trades are Nearly Instant and Nearly Free — Imagine you are transported across the fabric of time to a place where Ethereum was under $1 and Gas Prices were 1 Gwei. That’s exactly what Fantom is right now, Ethereum if we could do it over from scratch.
100% Solidity Compatibility means no Re-Tooling — since the language is the same, developers spend less time learning and more time coding.
DeFi from Inception — Tight integration with DeFi protocols that are already secure and heavily used by users including SushiSwap, RenBridge, ChainLink means that users have familiar and trusted products to use with no learning curve.

Klingon Yield Farm on Fantom

To build liquidity on SushiSwap, we have launched the Klingon Yield Farm on Fantom.

Seven of Nine Yield Farm on Fantom

In order to bootstrap liquidity for HyperSwap on Fantom, we have launched our first Fantom Yield Farm, Seven of Nine ($SON).

You may recognize “Seven of Nine” from blockchains such as “Binance Smart Chain” or BSC. We purposefully utilized our existing codebase because we wanted to prove to the word how portable projects are from one chain to Fantom.

Tokenomics:

Starting Supply — 1.0 $SON (used for LP pool creation)
Emissions Rate — 1.0 $SON Per Day
(split across all staking and LP provider pools via allocation points)
Burn Rate — 10%

Controlling Inflation via Yield Farming

As always, a Yield Farming token is subject to inflation, which left unchecked can quickly overwhelm the market with supply.

Seven of Nine has two mechanisms to control inflation:

Token Burn — Every transaction has a built-in token burn of 10%.
(Set slippage for trades to 10.5%)
Burn Backs — Using deposit fees to support price movement.

Burn Backs via Deposit Fees

Deposit fees are used for burn backs, which support positive price movement.

Burn Back Procedure:

Use Deposit Fees to Market Buy $SON
Send $SON to 0x0dEaD Address to Reduce Circulating Supply.

For a list of $SON Burn Backs, see here.

Yield Farming Options

In order to support the Fantom Ecosystem, we have included a variety of choices including Stablecoins and Crypto pairs.

How to Get Started on Fantom

Fantom is easy to get started on, if you have used Ethereum or Binance Smart Chain (BSC) — you are already familiar with the infrastructure components of a wallet, Web dApp and Blockchain.

Frequently Asked Questions:

Question: Where can I buy $SON?
Answer: Here

Question: “Why can’t buy or sell $SON”?
Answer: Increase slippage to 10.5%

Question: What is $BORG on Fantom, what can it be used for?
Answer: $BORG will be governance and inter-chain transfers.

Question: What is $BORGDAI on Fantom, what can it be used for?
Answer: $BORGDAI is the Stablecoin of the Collective.