Update: Toast Native Tokens
Details on the upcoming release of TOAST and its impact to the ecosystem
With the release of TOAST we created this as a guide for the TOASTz and SPACETOAST HODLers to gain clarity on upcoming changes.
Rewards / Incentives / Liquidity Mining are a fundamental part of crypto. Proof of work (Bitcoin mining) is providing “something” for rewards (in proof of work, providing security and electricity to earn crypto).
Liquidity mining is the market-making technique providing rewards, in the form of native tokens, to those who provide liquidity.
Today Toast Farms reward users with TOASTz for providing liquidity of specific tokens. These reward systems were initially introduced by Sushi, PancakeSwap, ApeSwap and others.
Initially, this approach works well, however only for a short while as inflation eventually decreases earnings potential. Projects that don’t innovate eventually bottom token price or close their doors. Projects that become creative and build new solutions on top of the project find ways to combat inflation.
As liquidity mining grew, some, non-deal-breaking flaws became apparent. The following have the most negative impact:
Liquidity “locusts” who drain liquidity in a project
Token loyalty, or opportunistic dumping
Examples: Combating Inflation
Other projects approach to combating inflation
1. Created Profiles
2. Introduced Lottery
3. Launched Prediction Game
4. IDO Launchpage
1. Released Golden Banana
2. Consistently launched IAO’s for DEX value
3. Incubated smaller projects
4. Started Vaults
Toast: Combating Inflation
The Toast approach to combating inflation
- SPACETOAST — Deflationary token adding $300k+ liquidity to the Toast Ecosystem. Its buyback function has been instrumental in buying and burning TOASTz.
- LaunchPad — Incubating new projects helping drive all the native tokens to all-time highs.
- Treasury — Generating fees from trades, developer reflations and deposits to be used for marketing and growth.
- And continued innovation to combat inflation and bring HODLrs more value. (Stacks, Cross Chain Support & More)
We created TOAST to enable features that improve issues present in all liquidity mining systems.
What Happens Next
- TOASTz (0xc2B0aC2ADC4298b82E3b43594228876cCE7C68D2) remains the governance token of the ecosystem.
• It’s value will grow from it’s inclusion in all of the Stacks (many tokens bundled as one).
• TOASTz will no longer be the rewards token for farms, pools or referrals. This will be replaced by TOAST.
• TOASTz emissions will be turned off, officially making the total TOASTz tokens 440k in circulation. We will work to reduce this amount to 100k total TOASTz, representing the governance.
- SPACETOAST (0x623b3a37e06268e99096a56a8a0c1207a024245d) will continue to buyback and burn tokens via reflation of every transaction. This will include TOASTz and TOAST.
- Treasury revenue will continue to be used to buyback and burn tokens. This will include TOASTz, TOAST, SPACETOAST.
- TOAST (0xb6521c837EbCc378f5DAa267f65397c0391a10e3) will launch and become the rewards token for the ecosystem. Participate in the referral system pools or farms and earn TOAST.
- Stacks — create a buy one, buy all scenario for the ecosystem. In addition to the 2% revenue from trading activity, The first Stack: Avocado Toast will include TOAST, TOASTz, SPACETOAST, XCARBON, ALTRU and WBNB. Each time someone is buying the Avocado Toast Stack, they are almost buying those underlying tokens automatically.
By design, TOAST will help improve ecosystem value overall and enable a better ecosystem for growth.
It’s also important to note that all TOAST ecosystem buy-back activity will replace TOASTz with TOAST proportionately. Buyback replacement will begin October 1, 2021–18:00 UTC.
Don’t forget, we’re saying bye to Telegram and Hello to discord. Learn more from our recent security update here: https://medium.com/toastfi/security-update-farms-v1-community-telegram-why-audits-are-bad-5ca787932ab5
We don’t fold, we HODL! 💛
Remember, we will NEVER send private messages.
We don’t believe in DMs and will never send you a DM first.
We do not have technical support team.
We don’t fold, we HODL!!