Circle Finance Boardroom Launch

December 7 update – site and socials deleted.

December 6 update – there was an error in the boardroom contracts launched on December 5. They team is re-launching genesis, redeploying the contracts, and current holders are to be airdropped the new token. The new genesis will last 24 hours with no deposit fee beginning December 6, while the boardroom will re-launch on December 8.

Boardroom launch for a multi-peg algorithmic stablecoin protocol on Avalanche.

DETAILS

• Boardroom
  • There are 2 Boardrooms – CIRCLE and SAND Boardrooms
    • Stake CSHARE in CIRCLE Boardroom to earn CIRCLE
    • Stake CSHARE in SAND Boardroom to earn SAN
  • During expansion, newly minted tokens are distributed as follows;
    • 65% — Reward for Boardroom stakers
    • 20% — DAO fund
    • 10% — Insurance fund
    • 5% — Dev fund
  • Boardroom will only prints new tokens when TWAP > 1.01
  • Epoch duration: 6 hours
  • Staked CSHARE is locked for 6 epochs and rewards locked for 3 epochs (every deposit/claim/withdrawal resets the timer)
  • LP Nodes is scheduled to open on December 7, 2pm UTC

• Tokens
  • 2 algo-stable tokens;
    • $CIRCLE is the algo-stable, pegged 1:1 to USDC.e
      • Initial supply: 61,400
        • 10,000 — Genesis farming
        • 51,000 — Rebates
        • 400 — Pre-mint for initial liquidity
    • $SAND is the algo-stable, pegged 1:1 to WAVAX
      • Initial supply: 10
        • 10 — Pre-mint for initial liquidity
  • $CSHARE is the shares token
    • Total supply: 60,020
      • 50,000 — Farming rewards (vested linearly over 12 months)
      • 6,000 — DAO fund (vested linearly over 364 days – 16.48 CSHARE/day)
      • 4,000 — Dev fund (vested linearly over 364 days – 10.99 CSHARE/day)
      • 20 — Pre-mint for initial liquidity
  • $CBOND is bond token for CIRCLE
  • $SBOND is bond token for SAND
  • Ownership renounced on $CIRCLE [tx], $CBOND [tx] contracts

• Features
  • Sell tax – 6-weeks scaling sell tax on CIRCLE / CIRCLE LPs; tax starts at 5% and reduces by 1% every week until 0% on week 6
  • Rebates – bond mechanism for building Protocol Owned Liquidity
    • rebates open when CIRCLE is at TWAP > 1.2 USDC.e
    • deposit bonding assets such as; USDC.e, AVAX and receive discounted CIRCLE tokens
    • bonded CIRCLE is linearly vested over 7 days
  • LP Nodes –  purchase LPs nodes and earn higher LP yield
    • CIRCLE/USDC.e and CSHARE/USDC.e LP node pools available
    • deposit your LPs to earn up to 1.5% – 3% daily ROI — maximum of 500% ROI
  • Road-mapped features include; auto-compounding vaults, launch of xCIRCLE