Hi everyone, I’m writing on behalf of DinoSwap as a core contributor. DinoSwap is an upcoming cross chainfarming/dex aggregator launching on Polygon. I’m aware that there is continued interest in building residual liquidity on Polygon and that’s what we’re all about through our unique LP token farms and single asset staking via our DINO token.
Wanted to propose $200,000- $300,000 USD worth of SUSHI tokens to be contributed strictly as rewards into the “Extinction Pools” on DinoSwap. DinoSwap is not a DEX or AMM itself, it actually routes trades through SushiSwap (Polygon). There is no need to seed additional SUSHI into the farms, which actually serves liquidity providers on Sushi by allowing them to farm DINO with their SUSHI-XXX LP tokens, for example. DinoSwap aims to become the PancakeSwap of Polygon (and abroad). We cannot disclose our launch partners and collaborators just yet but it is a strong list of reputable projects and backers.
One unique feature about DinoSwap is the 100% toll-bridge (DINO token burn) within the extinction pools - for which we’re requesting 250K USD worth of SUSHI in rewards. All stakers must agree to burn 100% of their DINO in exchange for a fair distribution of SUSHI tokens. This creates deflation to the supply of DINO (without facilitating a sell, as it is actually a swap) and encourages users to compound their yield by liquidity mining with more POOL tokens. This mechanism is how we will be able to achieve extremely high APY on our farms & pools.
In exchange, farmers of SUSHI- XXX (pool of your choice) will receive DINO tokens just by staking their SUSHI LP tokens into the DinoSwap platform. We will be targeting approx 300% APY in emissions based on our series B valuation of 45m, assuming there is about $6m in liquidity. However, if DinoSwap valuation increases, the APY will also increase. For example, if the fully diluted valuation is $135m, the APY will be 900% on the farm. The multiplier will be set for 90 days.
Please let me know what facts, figures, etc you would like to know for this to make sense. We are confident in the value-add for SushiSwap in terms of encouraging liquidity, driving TVL and transaction volume.