COTI is happy to announce that they will be working together with Minswap to implement the Djed stablecoin on the Minswap DEX.
Once this step achieved, Djed will be able to pair with other coins in the Minswap DEX, thus making it possible for the liquidity to be provided through Djed trading pools on Minswap and for the users to generate yield on their crypto assets in the DeFi market while mitigating the potential negative effects of market volatility and impermanent loss.
Long Nguyen, Co-founder and Lead Engineer at Minswap said: “We are excited to explore integrating Stablecoins like Djed on Minswap DEX. Stablecoins alleviate the potential adverse effects of market volatility and provide a convenient unit for transacting.”
This partnership, along with some of the previous ones we have announced, will ensure the proper and seamless utilization of Djed and create an increased use-case for its stablecoin across multiple platforms.
About Minswap
Minswap is a community-centric decentralized exchange on Cardano, that has no venture capital funding or private investment, thus making its tokens fairly distributed by ensuring the users’ community is maximally rewarded rather than speculators or insiders. Minswap aims to capitalize on Cardano’s peer-reviewed and secure pillars to realize its potential to financially empower everyone.
Minswap Tokenomics
The Minswap protocol currently has two types of tokens:MIN token: The governance token of the protocol with future utility. MINt token: A token that can be converted to MIN through usage of the protocol. Please read the following document for the detailed mechanics. MINt token conversion will be available one month after the launch of our Yield Farms, meaning on the 14th of April 2022.The Minswap Token Distribution is the following:
Minswap Yield Farming
The Yield Farming Emission Schedule until mid August will be the following:1st month (16th March 2022 to 16th April) : 1.2% total supply = 60 million MIN ≈ 2,000,000 daily. 2nd month (16th April 2022 to 16th May) : 1.1% total supply = 55 million MIN ≈ 1,833,333 daily 3rd month(16thMay 2022 to 16th June) : 1% total supply = 50 million MIN ≈ 1,666,666 daily. 4th month (16thJune 2022 to 16th July) : 0.9% total supply = 45 million MIN ≈ 1,500,000 daily. 5th month (16thJuly 2022 to 16th August): 0.8% total supply = 40 million MIN ≈ 1,333,333 daily.In total, to bootstrap liquidity and to ensure early supporters of Minswap are maximally rewarded, 5% of total supply has been allocated towards Yield Farming in the first 5 months. In July, the schedule will be adjusted. We welcome any community input regarding pools that could be added and schedule adjustment in our Forum.
Minswap Token Vesting Schedules
Tokens from the team will be locked for the first 6 months after the launch of the protocol, meaning they will not be accessible to team members during that time. After that time period, Team tokens will vest linearly during the next 2.5 years. Regarding the 10% of the total supply of tokens from the development fund, please note that 0.5% of them were allocated to our public sale at the price of 1 ADA equals 40 MIN. 4% of these tokens will be unlocked at launch and the remaining 5.5% will vest in the same schedule as team tokens (6 months cliff and 2.5 years linear). The DAO Treasury has an allocation of 6% of the total supply. To bootstrap liquidity on the DEX, 2% of this supply has been allocated to our Liquidity Bootstrapping. All LP tokens obtained from this event and the remaining MIN tokens from the DAO treasury will be locked away for 6 months until a DAO treasury manager contract is implemented. Additionally, the current circulating supply before the launch of our DEX for MIN is 50 million MIN tokens. 25 million are from the public sale and the other 25 million are from the FISO. The current circulating supply for MINt tokens is 100 million MINt from the FISO.
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