TIME premine is LIVE!
Timeswap users can earn TIME starting today by engaging with our boosted pools
The Time Machine has had an incredible journey so far and it’s about to get incredible-r! Starting today, Time Travelers will be able to pre-mine our TIME token by interacting with Timeswap pools. The pre-mined TIME tokens will be available to be claimed and traded after the token generation event. We’re sure everyone has plenty of questions, so read on till the end!
TL;DR: Users can start earning TIME tokens during the premine phase! Token can be claimed after TGE, expected to be during Q1 2024 depending on market conditions and other factors.
PREMINE — Details
The TIME premine allows users to rack up claims on the TIME token when TGE happens. What do you need to do to be eligible? If you are a Time Traveler already, simply keep doing what you are doing! If you are not, why don’t you try interacting with Timeswap pools to secure your supply of TIME and protect yourself from liquidations!
The complete details of the premine are as below!
- TIME tokens can be earned by users by interacting with our boosted pools. Earned TIME tokens can be claimed during TGE.
- TIME tokens are distributed at FDV of $40 million [same as our seed round investors] i.e the APR for rewards are calculated based on price of TIME at 0.023 (Total Supply = 1.75 Billion)
- Rewards in all pools will be linearly decaying i.e the earlier you are participating, the higher the rewards. Check out our gitbook for more details on linear decay
- Eligible pools will be listed under boosted pools section in the markets page
- Rewards can be earned by different participants, namely — Lend, LP or borrow. Rewards will vary for each pool and can be seen on markets page as well as individual tabs
- There is a separate Rewards Tab under which you can see your cumulative TIME earned across all pools and networks.
- Rewards will be updated every 15–20 mins across all sections of the app
- ARB rewards from STIP will be added to pools in the subsequent weeks
Genesis Pool:
The first pool going live with premine will be USDC/ARB pool — lenders, borrowers and LP will be eligible for rewards.
Pool: USDC(asset) / ARB (collateral)
Maturity: Dec 4th
Strike: 0.5 ARB/USDC
Time Rewards: 2,858,733
Lend: 1,510,274
Borrow: 269,692
LP: 1,078,767
For more details on premine — join our discord: https://discord.gg/timeswap
More details on premine for future pools will be shared via discord / twitter in subsequent days.
New UI, Analytics and Liquidity
We’re also launching a brand new UI with aggregated markets page which allows you to view all the pools across all networks in a single view. Lend and borrow tabs have also been updated to make it more user-friendly and minimalistic
We have a brand new page to view all stats around Timeswap, no more relying on Dune or Defillama — all your data in one place: https://analytics.timeswap.io/!
We’re also introducing liquidity provisioning for pools for the first time — Users can now add liquidity and become liquidity providers to all the pools on Timeswap. You can learn more about liquidity provisioning on our gitbook and try it out here -> https://app.timeswap.io/#/liquidity/
Retroactive Rewards
For all those who are wondering what happens to all your contributions over the past two years, it has not gone unnoticed.
While the TIME premine is a chance to introduce new people to the benefits of Timeswap and reward more people for Time Travelling, past efforts will not go unrewarded. Select NFTs distributed to Time Travelers for active contribution to the community will also carry weight in the retroactive distribution model. The snapshot for retroactive rewards have not yet been taken.
Exciting times ahead!
Building in the bear market is hard, but we have come out the other side stronger than ever! We would like to thank everyone who has helped us get where we are now, especially our community of Time Travelers.
We’ve made considerable progress over the past year with many major milestones, and excited to supercharge our liquidity with rewards in the coming weeks. With ARB rewards soon to be added, its double rewards season including rewards from many of our partners as well. We’re more excited than ever to continue building and making Timeswap a foundational infrastructure for DeFi and the wider crypto community!
We hope that you are as excited as us to go on a new journey aboard the Time Machine!
Follow us:
Discord: https://discord.gg/timeswap
Twitter: https://twitter.com/TimeswapLabs
Medium: https://medium.com/Timeswap
Telegram: https://t.me/Timeswap
