1. Project Introduction
Lava Swap is the first interoperable decentralized cross-chain swap protocol powered by Huobi Eco Chain. Lava Swap provides staking pool, liquid mining pool, DEX, bridging of cross-chain assets and many more. Lava Swap is committed to building a community-oriented DEX and ecology without pre-sale, VC allocation and pre-mining.
The 100 Million LAVA supply will be put in circulation over the next three years, with 70% going to Mining and Staking, 10% to long-term LAVA token holders (DAO), 10% to team members and future employees (DAO), 10% to marketing and ecosystem building.
After the three-year genesis supply is distributed, a perpetual inflation rate of 2% will start, to incentivize participation in the protocol over passive ownership. All token distribution details are subject to change.
Stage 1: Airdrop Mining Phase (4 weeks, 1% of LAVA)
There are 5 exclusive airdrop pools for our key HECO ecosystem partners, which include HUSD, HBTC, HT, HPT and SKM. Each of the pool will get an allocation of 200,000 LAVA tokens in total.
Distribution: 4 weeks, halving every 2 weeks
Time: 8pm, January 26 — Feb 23, 2021 (EST)
Stage 2: Liquidity Mining and Ecosystem Partners (3 years, 69% of LAVA)
2.1 Genesis Liquidity Mining Phase (8 weeks, 5% of LAVA)
The LAVA airdrop precedes a liquidity mining campaign set to go live Feb 4, 2021 at 8pm EST.
Of the 100 Million total genesis supply, 5M LAVA will be allocated to the HUSD-LAVA, HBTC-LAVA, HT-LAVA, HPT-LAVA and SKM-LAVA pools over the next two months. Users can provide liquidity and stake their positions via the new LAVA mining dashboard to earn a pro-rata claim of the 5M LAVA allocated to each pool. You can unstake any time and the reward is calculated per block.
2.2 Other HECO Liquidity Mining (3 years, 64% in total)
We will provide airdrop to the other liquidity pools to more HECO partners.
Different liquidity pools have different weights, such that some will receive a greater portion of LAVA tokens than others. This pool weight is flexible and can be changed via a governance vote or when new pools are added to the protocol. More details will be announced soon.
Special Long-term LAVA HOLDLER Staking Pool and DAO ( 3 years, 10% in total)
We will announce more details soon. We will assign a time weight to our airdrop program. If you stake LAVA, you will get LAVA. But the longer that you stake, the more you can get.
Trading Fee and Token Burn System
0.3% of the fees on all trades will be collected and redistributed to benefit the Lava Swap ecosystem. 0.2% of the fees will be added to the liquidity pool and accrued in real time. The fees are claimed automatically when withdrawing your liquidity. 0.05% will be used to buyback and burn LAVA. 0.05% will be used to continue innovation and further development.
Governance & DAO
LAVA holders can use their tokens to vote on governance proposals regarding changes and upgrades to the protocol.
3. Token Allocation
Total Genesis Supply = 100,000,000 LAVA, no inflation for the first 3 years
Mining and Staking (70%) = 156 weeks, unlocks weekly
Long-term LAVA token holders & DAO (10%) = 156 weeks, unlocks weekly
Team lockup (10%) = 104 weeks, unlocks weekly
Marketing, Partnerships & Ecosystem Building (10%) = 104 weeks, unlocks weekly
4. Related Links
Block Explorer: https://hecoinfo.com/token/0x56f95662e71f30b333b456439248c6de589082a4
Note: The above information is published by the project team which may contain errors, omissions or may be out of date. The content is strictly for reference only and does not constitute any investment advice. HBTC shall not be responsible for any direct or indirect monetary/financial losses due to the reliance on this information.