Proposal Description
We would like to propose the addition of the $MIN token in Aada V1 as an asset for borrowing.
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
Project 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.
Token overview
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.
The $MIN Token has the 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%
