Circle Finance Genesis Pools 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.

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

DETAILS

• Genesis Pools
  • Genesis farming will last for 48 hours
  • 10,000 CIRCLE rewards to be distributed across the following pools:
    • 33.33% — WAVAX pool
    • 33.33% — USDC.e pool
    • 33.33% — USDT pool
  • 1% deposit fee on pools; no withdrawal fee
  • There are 3 genesis contracts for each pool; WAVAX, USDC.e, USDT and ownership is renounced on all contracts – WAVAX tx, USDC.e tx, USDT tx
  • LP farms is scheduled to open on December 4, 10pm UTC
  • Boardroom is scheduled to open on December 5, 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: 1,060
        • 1,000 — Genesis farming
        • 50 — DAO fund
        • 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