Finally, $EMO is Here!
The long wait is over!
After many weeks of patience, we are glad to announce that EMO is live for trading on the EvmoSwap. Following this, public sale investors will be able to claim their tokens (20% on first claim) at exactly 3 PM UTC. Private sale investors will have their $EMO tokens released linearly after seven days (on May 27th).
$EMO is highly significant to the token economy of EvmoSwap, both as a native and governance token. Thus, we are committed to revolving utilities such as farming and staking around the token. In this light, farming and staking pools for $EMO and other tokens (such as $EVMOS, $USDC) will go live at the same 3PM UTC. Public sale investors and incoming buyers will be able to provide liquidity with $EMO liquidity pairs and go further to farm $EMO yields with their added liquidity.
LP Farming Pools
Since the EVMOS on-chain ecosystem is still in its early stages of development and native on-chain assets are extremely scarce, the following farming pools will go live: EMO-USDC, WEVMOS-USDC, EMO–EVMOS. And liquidity providers of the first two pools shall receive the following time-limited rewards.
1. Mining rewards will be distributed at an emission rate of 6.5 EMO per second for one week after launch, and the emission rate of 3.25 per second will be restored one week later.
2. Airdrop for the initial liquidity providers (rules will be announced in the airdrop article later.)
Note: EMO rewards earned from liquidity mining have a 30-day vesting period. Rewards can be claimed before the end of the vesting period but are subject to a 50% early withdrawal penalty. And all liquidity providers who do not end the vesting period early will receive this 50% penalty for EMO.
Farming pools will be structured in this order:
- EMO-USDC (30x)
- EMO-EVMOS (15x)
- USDC-EVMOS (10x)
There will also be a 3pool composition (USDC-USDT-DAI) 5x, such that those who provide liquidity on the pool can also stake and farm $EMO yields. The initial aim was to introduce a 3-pool combination of USDC-USDT-UST. However, we have reviewed the combination in view of the UST incident to ensure more stability. Thus, when users make swap transactions on these stablecoins, we will auto-route the swap path through our stablecoin AMM to protect against high slippage.
As we all know, the design of the staking module is always significant in any DeFi project, and for this reason, we have gone to great lengths to design both stake and lock modules for EMO holders. Thus, $EMO can be staked for rewards. A single staking pool for $EMO will go live with multiple rewards.
These are just a few of what we have in the pipeline for the community. In the next few weeks, we will release more announcements. We urge you to keep supporting us.
EvmoSwap is an automated market-maker, and the DEX is at the core of the whole ecosystem. It aims to be the go-to DEX, amongst other product offerings, on the Evmos Chain. With decentralized finance being an open ecosystem, EvmoSwap forks PancakeSwap, an AMM DEX operating on the BNB Chain (previously Binance Smart Chain).
The EvmoSwap DEX is host to several user-friendly functionalities that facilitate decentralized finance.