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Preparation Period
Immediately after the mainnet launch on August 3, 2023 7PM UTC SpartaDex will enter the so-called Preparation Period. It will be a few-week time window needed for a smooth and trouble-free transition from the lockdrop phase and the related prize distribution to the phase of a fully functional SpartaDEX exchange protocol.
The Preparation Period will be the phase in which all planned game features will be fully available, DEX protocol and SAS will also work, but the rules related to LP staking and rewards distribution will be slightly changed.
The purpose
The Preparation Period is a crucial time for the development of whole SpartaDex ecosystem, Main goal of this phase is:
- to bootstrap liquidity, and attract large TVL;
- to ensure a more even start for all people who want to join in the first weeks of operation;
- to offer players some time to learn more about the game mechanics and how the DeFi protocol works;
- to offer players opportunity to push hard with developing the city, and to earn a significant advantage over players joining at later stage;
- to give developers a time to fix minor bugs and to implement updates based on our community feedback;
LP Staking
Liquidity staking will work during the preparation period, but some rules are changed:
- No surrender tax. Unlocking liquidity does not involve any fee, you can deposit and withdraw your assets freely, without a cooldown period
- During the preparation period, senate level does not affect yield. You can upgrade the senate normally by increasing its levels and gaining the right to a boost, however, the bonus itself related to the boost will only be applied after the preparation period ends.
Example:
During the preparation period, player upgraded the Senate to level 7 and was entitled to 14% boost. In this period, however, the prizes are distributed in the basic amount, without the addition of the boost. At the moment of entering the final phase, the player will start receiving a boost according to the accrued level.
Rewards Distribution
IMPORTANT!
1. People who have locked their liquidity during the lockdrop are eligible to receive rewards from the Ecosystem Rewards pool in the mainnet version of SpartaDEX.
2. In Preparation Period rewards are paid without the Senate level boost
During the preparation period, prizes will be distributed differently than during the regular SpartaDEX operation.
In order to ensure a fair and equal distribution between regular LP providers and lockdrop participants, some rewards will be paid out periodically (e.g. once a week) and the team will supervise their correct distribution.
- Rewards for Lockdrop participants
These rewards will be paid once a week from the “Ecosystem Rewards” pool, based on estimations and then supplemented at the end of each period with a matching bonus to ensure that each user receives their rightful reward. Rewards will be carefully calculated by the team.
Rewards are distributed without the Senate level boost.
- Rewards for SpartaDEX liquidity providers
In the preparation period, rewards for liquidity providers will be distributed as usual, but without the Senate level boost.
Single Asset Staking
$SPARTA token staking works normally during the Preparation Period. Staking users will receive Real Yield rewards, there is also a cooldown period of 10 to 110 days and an unstaking fee for not meeting the cooldown time (see more: Single Asset Staking).
Last modified 3mo ago