We will soon launch on the BNB Chain Mainnet. So it’s about time to reflect on our Testnet Launch.
We kicked off on the BNB Chain Testnet on Jan 3, 2023. Since then, we have seen:
- Total Trading Volume = 724,401,739 USD;
- Total Active Wallets = 25,871;
- Total Trades = 206,315;
- Total Platform Fees =704,002 USD;
- Total POAP Holders = 15,308;
- Total Uniwhale Genesis Pass Holders = 3094;
- Floor Price of UGP peak at 0.7 BNB (See more)
BIG THANKS to our community and your enthusiastic participation, and we look forward to seeing you at the Mainnet Launch!
So what’s in store?
We shared in our last article that a successful bootstrapping of initial liquidity and trading activities is critical to the long-term success of Uniwhale. We therefore want our community to focus on a few key milestones we outline below.
Airdrop Stage 1:
- From 0 to 1 million US$ TVL
- From 0 to 100 million US$ Trading Volume (Open + Close)
Upon reaching Milestone 1, we will kick-start the Airdrop Stage 1:
For LPs:
- When the platform liquidity reaches 1 million, a random snapshot will be taken and wallets that meet the criteria will be announced. 750,000 tokens are allocated to those wallets proportional to their ULP holdings.
- Those wallets that met the criteria for the Milestone 1 will be able to share in the remaining 1,500,000 tokens until we reach Milestone 2, so long as no liquidity is withdrawn. Users can view “Loyalty Points” on our platform.
- What does all this mean? This means every 1 USD of liquidity translates into 2.25 tokens!
For Traders:
- The first 100 million trading volume will share 1,000,000 tokens.
- That means every 1 USD of fee paid by the trader translates into 10 tokens!
Uniwhale Liquidity Pool
Uniwhale Liquidity Pool token (“ULP”) is our liquidity pool token. Liquidity providers mint ULP when they provide liquidity to Uniwhale. The number of ULP minted is proportional to the amount of liquidity you provide relative to the liquidity balance Uniwhale holds.
By minting ULP tokens, holders automatically stake ULP to participate in the distribution of value accrued. At the initial liquidity bootstrapping stage, 70% of the platform trading fees will be distributed to the ULP holders, and the rest 30% will be reserved for token listing expenses.
Liquidity can be redeemed any time in stablecoins, subject to the minimum collateral requirement rule. The amount of stablecoins ULP holders receive upon redemption is proportional to the number of ULP tokens burnt relative to its outstanding supply.
After Stage 1?
Stage 2, of course!
Stage 1 is just the beginning. Tune in for the Stage 2 because we have a lot more coming!
Until then, to get involved and stay updated on all Uniwhale-related matters:
- Visit us on uniwhale.co
- Find our codes on GitHub
- Follow Uniwhale on Twitter
- Subscribe to the Uniwhale Medium
- Join the Uniwhale community on Discord
