Published in StarSwap Blog
The $Star Token | Why Do You Need It, The Utilities And Importance
It’s only a couple of days for the $STAR launch, while waiting for the Star Swap LGE, let’s take a detailed look at StarSwap’s native token.
Like any other standard Dex, one of the primary purposes of the STAR tokens is to create enough incentives/yields for the community to provide liquidity. A good % of the Star tokens will be rewarded in the farming/staking and nft staking areas.
But, that’s not all!
There is a few other strategies and tools in place for preserving the price and community sentiment to hold STAR tokens.
The first one is the platform’s fee distribution; StarCards holders will need to hold a certain amount of Star tokens to get maximum benefits (the fee distribution is calculated based on 3 factors; the number of Star Cards + The rarity + The number STAR tokens, which is further categorized in to 4 levels, minimum 10k; minimum 50k; minimum 100k and minimum 500k)). So the more STAR tokens users hold, the better will be their fee share!
The second one is the TAX system; we have a tax system that encourages users to hold instead of dumping; because on the first day of harvesting (the next day after providing liquidity tokens for farming) the tax would be 50%, the next day 49% and so on; if you hold for 50 days, there’s no tax – this is an improvised version of Geist farming to encourage users to hold at the same time letting them harvest (without locking but with a tax) in case if they really need it.
Projects who would like to get listed on Star Swap will have to win a ‘community controlled governance vote’ and to start that voting one will have to hold enough number of STAR tokens (we will list tokens from our side as well, but mentioning the other scenario as well) and the community votes to consider listing them or not. Projects can also get STAR tokens and use them as a bribe for users to vote, so there is that too.
And StarSwap will bring a treasury within the first two months of launch. Which will provide price backing (with a buyback guarantee for STAR tokens). The treasury is funded with an improved OHM concept (we had this treasury concept built even before there was a project like OHM), details will be added in the docs right before its launch, we are keeping it as a surprise feature and also don’t want to reveal any specs before we deploy it for obvious reasons.
A defi lotto, a fully decentrailsed SuperLotto is also in the making, which will also need $STAR tokens to play.
And the last, and most important reason, it is really nice to hold the $STAR 😉
More Posts
The $Star Token | Why Do You Need It, The Utilities And Importance
It’s only a couple of days for the $STAR launch, while waiting for the Star Swap LGE, let’s take a detailed look at StarSwap’s native token.
Like any other standard Dex, one of the primary purposes of the STAR tokens is to create enough incentives/yields for the community to provide liquidity. A good % of the Star tokens will be rewarded in the farming/staking and nft staking areas.
But, that’s not all!
There is a few other strategies and tools in place for preserving the price and community sentiment to hold STAR tokens.
The first one is the platform’s fee distribution; StarCards holders will need to hold a certain amount of Star tokens to get maximum benefits (the fee distribution is calculated based on 3 factors; the number of Star Cards + The rarity + The number STAR tokens, which is further categorized in to 4 levels, minimum 10k; minimum 50k; minimum 100k and minimum 500k)). So the more STAR tokens users hold, the better will be their fee share!
The second one is the TAX system; we have a tax system that encourages users to hold instead of dumping; because on the first day of harvesting (the next day after providing liquidity tokens for farming) the tax would be 50%, the next day 49% and so on; if you hold for 50 days, there’s no tax – this is an improvised version of Geist farming to encourage users to hold at the same time letting them harvest (without locking but with a tax) in case if they really need it.
Projects who would like to get listed on Star Swap will have to win a ‘community controlled governance vote’ and to start that voting one will have to hold enough number of STAR tokens (we will list tokens from our side as well, but mentioning the other scenario as well) and the community votes to consider listing them or not. Projects can also get STAR tokens and use them as a bribe for users to vote, so there is that too.
And StarSwap will bring a treasury within the first two months of launch. Which will provide price backing (with a buyback guarantee for STAR tokens). The treasury is funded with an improved OHM concept (we had this treasury concept built even before there was a project like OHM), details will be added in the docs right before its launch, we are keeping it as a surprise feature and also don’t want to reveal any specs before we deploy it for obvious reasons.
A defi lotto, a fully decentrailsed SuperLotto is also in the making, which will also need $STAR tokens to play.
And the last, and most important reason, it is really nice to hold the $STAR 😉
More Posts
The $Star Token | Why Do You Need It, The Utilities And Importance
It’s only a couple of days for the $STAR launch, while waiting for the Star Swap LGE, let’s take a detailed look at StarSwap’s native token.
Like any other standard Dex, one of the primary purposes of the STAR tokens is to create enough incentives/yields for the community to provide liquidity. A good % of the Star tokens will be rewarded in the farming/staking and nft staking areas.
But, that’s not all!
There is a few other strategies and tools in place for preserving the price and community sentiment to hold STAR tokens.
The first one is the platform’s fee distribution; StarCards holders will need to hold a certain amount of Star tokens to get maximum benefits (the fee distribution is calculated based on 3 factors; the number of Star Cards + The rarity + The number STAR tokens, which is further categorized in to 4 levels, minimum 10k; minimum 50k; minimum 100k and minimum 500k)). So the more STAR tokens users hold, the better will be their fee share!
The second one is the TAX system; we have a tax system that encourages users to hold instead of dumping; because on the first day of harvesting (the next day after providing liquidity tokens for farming) the tax would be 50%, the next day 49% and so on; if you hold for 50 days, there’s no tax – this is an improvised version of Geist farming to encourage users to hold at the same time letting them harvest (without locking but with a tax) in case if they really need it.
Projects who would like to get listed on Star Swap will have to win a ‘community controlled governance vote’ and to start that voting one will have to hold enough number of STAR tokens (we will list tokens from our side as well, but mentioning the other scenario as well) and the community votes to consider listing them or not. Projects can also get STAR tokens and use them as a bribe for users to vote, so there is that too.
And StarSwap will bring a treasury within the first two months of launch. Which will provide price backing (with a buyback guarantee for STAR tokens). The treasury is funded with an improved OHM concept (we had this treasury concept built even before there was a project like OHM), details will be added in the docs right before its launch, we are keeping it as a surprise feature and also don’t want to reveal any specs before we deploy it for obvious reasons.
A defi lotto, a fully decentrailsed SuperLotto is also in the making, which will also need $STAR tokens to play.
And the last, and most important reason, it is really nice to hold the $STAR 😉
More Posts
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