we at Smay Finance are a team that wants to create the largest revenue sharing vault on the avalanche network.
Who are we?
We are a small anon dev team of three developers and a social media manager.
How does our protocol work?
To make it easier to understand, below is a small picture to illustrate the revenue sharing vault.
- Users put their liquidity in our pools and earn SMAY.
2.We use your liquidity to deploy it according to our strategies in other protocols, for example Sushiswap and earn Sushi tokens with your liquidity.
3.The earned rewards from the strategies, e.g. Sushiswap (the sushi tokens) are sent to the revenue sharing vault.
4.Users can lock their earned Smay tokens from our pools to the Revenue Sharing Vault and earn other tokens such as the sushi token.
It’s a win-win situation for the stakers in our pools because they earn our token and many other tokens from different protocols!
What do we need?
We are currently looking for Liquidity. We read on Wonderland’s website that the wonderland team is investing in new protocols and hey we are a new one.
Liquidity is the most important thing, so we would like to keep the liquidity if provided by Wonderland for our token in Wonderland’s treasury for security reasons.
What else do we need?
We would like to replenish our strategies with funds so that the revenue sharing vault remains constantly filled, but this will be done through the funds we will collect from our own presale for our token.
Now comes the most important question what does the Wonderland team and the community get out of it?
We have decided to provide Wonderland with 200000 Smay tokens. However, they are not allowed to sell them(After 1 Year atleast)! You can stake the tokens in our revenue sharing vault for 1 year or 2 years - the Wonderland team and the community can decide for themselves. The rewards that the Wonderland team gets can be distributed to the Wmemo holders (through their own revenue sharing vault).
The next questions are for the degen frog nation!
Is it a rug?
No, everything is transparent we will post every transaction that will happen(moving funds, claiming from strategies, on our discord after our launch).
Is it rugable?
No, the Migrator code from the masterchef was deleted. And all our contracts are on github.
Audit status? What dollar amount is needed for this?
So were providing liquidity and getting some governance token that could be worthless in a year?
Audit status: we’ve requested a quote CertiK. What dollar amount is needed ? We want a good slippage, which means the higher the amount the better the slippage, we would need to talk about this with the community from wonderland.
We are the WL team we are a DAO
Every new protocol could be worthless in a year, it depends on the devs and the market. And by the way you wont just get the tokens from our side, i highly recommend the wonderland community to stake it per strategy in our vault and earn 5 other tokens, which then could be redistributed to the wmemo stakers in their own vault, they can do many different things with the rewards they get. The lockup of the token will overall create less sell pressure and the longer u lock it the more rewards you get. If you want to see more go to our docs.
Also no information on current vesting of tokens. What supply is / emission rates. No links to Github. what You’re essentially asking for is WL to give you exit liquidity. Honestly sounds like a Liquid driver fork eh
I am sorry for the missunderstanding but we were not sure if were allowed to post any links.
and yes youre right we were highly inspired by the liquid driver team. We’ve mentioned it in our docs.
Mnh we all know how it went for liquid driver - How do you think you will do better. Also why would I want to deposit my LP tokens in Smay when protocols like popsicle are doing Limone which aims to automate yield. And finally locking tokens is cringe.
First of all we decided to never use any type of leveraging for our token. Automation yield is pretty nice which is why we will implement something like that too after the Emission of the SMAY token is over. Why would u want to stake it in our pool? Cause you earn our Smay token and can stake it in our vault and earn 5 different tokens. Locking up tokens is good for people that want to invest longterm, we will, depending on what our token holder want, implement a burning system which lets people unlock their tokens. e.g lock for 2 weeks means 10% penalty if unlocked, 1 month 20%, 1 year 35% and 2 years 50% and so on, this would create a high burning for smay. But this is something we will talk about in the future.
We need more details if you want this advanced to WIP to actually gain an investment. More specifics. Also, per your tokenomics the number of Smay tokens will essentially double the first year and increase by 50% the second year. So market demand aside, Smay tokens will essentially get cut in half in terms of price within the 1st year. Yes, there is revenue share but whats the likelihood of this outpacing the losses from the governance token?
Also, what $ amount are we investing for 200000 Smay tokens.
You don’t need to leverage on Lemone its just an option. Again locking up tokens is cringe - you get dumped on.
Also you dont really need investment. Just give people smay for lping smay-avax or smay-stable that is staked.
We’ve decided to set the rewards high in the first year to reward early holder more. The first year is the most rewarding year in aspect to our governance token. As you’ve said the Smay tokens price will essentially get cut in half (supply and demand). The revenue sharing vault depends on the amount of tvl we have in total staked in our pools, the higher the tvl the higher the rewards people get from the vault and thus outpacing the losses from the governance token, we have thought about this too, what will happen if the tvl goes down after for example a year. That is where our treasury comes into play. We have a total of 10% fees from harvesting the strategies. 5% is used for the treasury and the other 5% for the team(which is why our Team allocation is “nonexistent”). The safest play would be to adjust our emission to the emission we get from the strategies. For example we have a SMAY/AVAX pool with 100% apr(earning smay) and the strategy on lets say sushiswap where u can also stake SMAY/AVAX with a 110% apr(earning sushi) <— this would outpace the losses that you have mentioned. There are many factors that play a role u cant define it on one thing.
We would like to raise 200.000$:
100.000$ will be used as Liquidity which means we will mint a certain amount of SMAY. We will send them to the treasury. After that they will be paired for example with avax → this is something the TM would do. SMAY/AVAX(on sushiswap for example) => This is how we would have liquidity which stays in the wonderland treasury.
The other 100.000$ will be used to fund certain allocations which can be seen on the picture right here.
This is needed to fund the protocol, so people for example can use the revenue sharing vault after launching without having to wait. And its there to fill our strategies for the main farms.
I would say yes but i would like to hear what the mods think about that.
how much money do you want?
We would like to raise 200.000$ here.
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