Proposal Description
We would like to propose the addition of the $MIN token in Aada V1 as a collateral option.
Short Summary
Minswap is a community-driven DEX on Cardano which offers an unparalleled experience in Swapping, Providing Liquidity and Yield Farming and is currently the DEX with highest TVL. The Minswap DEX has the most liquid AADA/ADA pool among all other Cardano DEXs. It also has one of the most traded and liquid Liquidity Pools on Cardano with its own native token Pair $MIN/$ADA. As such, we would like to propose the addition of the $MIN token in Aada V1 as an asset for borrowing.
Motivation
1. Project and token overview
Minswap is a community-driven DEX in that it has no venture capital funding, making tokens fairly distributed and ensuring it’s the community of users that are maximally rewarded, not speculators and insiders. Minswap is also an innovation-driven protocol, pioneering ideas such as the FISO (a fairer model to conduct an ISO), the MINt token or Liquidity Bootstrapping as a Service.
The $MIN token is the token with future utility in the protocol, such as Governance and Fee Sharing. AADA will benefit by introducing $MIN as an asset supported by the protocol as it is one of the most traded and popular assets in the Cardano network, with a foreseeable demand for borrowing and lending it.
2. Explain the positioning of the token in the Cardano ecosystem. How will it benefit the protocol?
The $MIN token is one of the native assets with the highest liquidity on the blockchain apart from $ADA. Moreover, it’s the utility and governance token for the biggest DEX on Cardano. Last but not least, part of the rewards for the users farming in the AADA/ADA liquidity pool on Minswap are in $MIN. Adding $MIN as an option for collateral will allow the Aada community to put their rewards to work and open long positions.
- Governance voting
- Fee sharing
- Farming rewards on Minswap
- Borrowable asset on Aada
4. Token data
The $MIN Token has a total max supply of 5,000,000,000 tokens distributed as follows:
Yield Farming: 70%.
Core Team: 10%.
Development Fund: 10%.
DAO Treasury: 6%.
FISO Airdrop: 2.5%.
Incentive programs / Partnerships: 1.5%
Other info:
ADA/MIN TVL - 29.39M ADA (Minswap) (08.10.2022)
24H Volume - 65.45k ADA (Minswap) (08.10.2022)
I think this is going nicely. Will there be a bond sales page by any chance?