Defi Turtle Genesis Pools Launch
New algorithmic stablecoin pegged 1:1 to USDC on Arbitrum.
DETAILS
- Genesis Farms
- Genesis farming will last for 36 hours
- 6,000 $TURT rewards to be distributed across the following pools:
- Native pool
- 40% — TURT/USDC
- Non-native pools
- 15% — USDC
- 15% — USDT
- 15% — wETH
- 7.5% — GMX
- 7.5% — MAGIC
- Native pool
- 1% deposit fee on non-native pools; 0% on native pools
- No withdrawal fee
- 20% sell tax on $TURT when below peg
- LP farms and Boardroom is scheduled to open on March 18, 2023, 6pm UTC
- Tokens
- $TURT is the algo-stable, pegged 1:1 to USDC
- Initial supply: 6,601
- 6,000 — Genesis rewards
- 600 — Pre-mint for airdrops & marketing
- 1 — Pre-mint for initial liquidity (TURT/USDC)
- Initial supply: 6,601
- $SHELL is the shares token
- Total supply: 19,001
- 15,000 — Farming rewards (vested linearly over 370 days)
- 2,000 — DAO fund (vested linearly over 300 days – 6.67 SHELL/day)
- 2,000 — Dev fund (vested linearly over 300 days – 6.67 SHELL/day)
- 1 — Pre-mint for initial liquidity (SHELL/USDC)
- Total supply: 19,001
- No bond token – utilizes rebase mechanism to reduce supply during contraction periods
- $TURT is the algo-stable, pegged 1:1 to USDC
- Features
- 20% sell tax on $TURT below peg
- Rebase mechanism
- used to support $TURT peg by reducing the circulating supply of $TURT when TWAP has been below 1.00 for 2 consecutive epochs (6 hours/epoch)
- Raffle – deposit $TURT for a chance to win $SHELL
- 200 $TURT = 1 entry
- unlimited entries per address
- Burner – deposit $TURT in the burner for a chance to win 12 $SHELL
- 950 pot cap; if pot fails to reach 950 TURTS in 6 hours, the pot doubles up
- LP Node pools
- cost per node: 100 $TURT
- unlimited nodes per account
- up to 3% daily $TURT rewards
- up to maximum 500% ROI on each node
- Each week the wallet that has created the most nodes wins 1 $SHELL
- 10% of the node pool will be distributed to The NFT holders monthly (including future node pools)
Links & Resources
Related Launches
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