OK, so with the launch of the Bounce protocol, I would like to introduce the platform token BOT to attract more users to the platform. Look, the token is solely used for the platform and the governance of the protocol. If you are not interested in helping out, please, stay off.
Firstly, let’s talk about token metrics. There will be a max supply of 500,000 BOT. 94% of the total supply will be allocated for liquidity mining. Liquidity mining on bounce.finance means: if you successfully swap your ETH into another token, your ETH will be used to calculate your contribution to liquidity. If you swap 1 ETH and the platform has 100 ETH daily liquidity, you will be rewarded 1% of the tokens minted on that day. There will be a fixed 300 BOT (can be changed by governance in the future) minted to reward liquidity providers every day until the liquidity mining allocation runs out. For the rest of 6%, I want to be honest with you: I will use some to create bounce pools and bounce off some BOT tokens. I will reward some to the team behind Bounce and give the rest to people who help govern the protocol.
- Governance: The token will be used for governance. This includes deciding what tokens or coins can pool creators swap to (Currently we only have ETH). Also, the total supply and daily liquidity rewards are subject to change by the governance proposal.
- Token Burn: If the test phase goes well, a pool creator will need to pay some amount of BOT to create a pool. The tokens will be burned when the pool is live.
Listing of BOT:
Look, BOT/ETH pair will of course be on the bounce.finance. I am not interested in listing BOT on centralized exchanges. I hope we can get enough volume so no one will need to deposit BOT to centralized exchanges. But again, anyone is free to make BOT available on places like Uniswap.
Ok, that is all. Enjoy!