SnowPegs Boardroom Launch

New multi-peg algorithmic stablecoin protocol on Avalanche, from the PegHub team that have previously launched several DeFi protocols including Bomb.money.

There are 3 separate boardroom contracts launching at 3 separate times, see below.

DETAILS

• Boardroom
  • Epoch duration: 8 hours
  • 3 available boardrooms utilizing staggered boardroom epochs
    • snowAVAX boardroom epoch begins at launch (2pm UTC)
    • snowSOL boardroom epoch begins two hours later (4pm UTC)
    • snowLINK boardroom epoch opens two hours after snowSOL (6pm UTC)
    • snowAVAX boardroom epoch rolls over again
    • and cycle continues…
  • Stake $snowSHARE in the boardroom to earn the respective algo-stable token rewards ($snowAVAX/$snowSOL/$snowLINK)
  • During expansion, all newly minted algo-stable token rewards are distributed as follows;
    • 55% — Reward for boardroom stakers
    • 30% — DAO fund
    • 10% — Insurance fund
    • 5% — Dev fund
  • Boardroom only prints new rewards when TWAP > 1.001
  • 2.5% expansion rate across board
  • Staked $snowSHARE locked for 2 epochs and algo-stable token rewards locked for 1 epoch
  • 2% fee on staking and unstaking $snowSHARE

• Tokens
  • Multi-peg mechanism consisting of 3 algo-stable tokens
  • $snowAVAX is the algo-stable, pegged 1:1 to AVAX
    • Initial supply: 6,575
      • 6,550 — snowAVAX Genesis farms
      • 25 — Pre-minted for initial liquidity
  • $snowSOL is the algo-stable, pegged 1:1 to SOL
    • Initial supply: 4,170
      • 4,150 — snowSOL Genesis farms
      • 20 — Pre-minted for initial liquidity
  • $snowLINK is the algo-stable, pegged 1:1 to LINK
    • Initial supply: 21,050
      • 21,000 — snowLINK Genesis farms
      • 50 — Pre-minted for initial liquidity
  • $snowSHARE is the shares token
    • Total supply: 73,001
      • 58,400 — LP farming rewards (vested linearly over 2 years – 80 $snowSHARE/day)
      • 7,300 — Community fund (vested linearly over 2 years – 10 $snowSHARE/day)
      • 7,300 — Dev fund (vested linearly over 2 years – 10 $snowSHARE/day)
      • 1 — Pre-minted for initial liquidity
  • $bondAVAX/$bondSOL/$bondLINK are the bond tokens

• Features
  • Adjustable sell/burn tax (max 15%) when selling $snowAVAX/$snowSOL/$snowLINK under their respective pegs. This tax also applies to transfers between wallets
  • Tokens from burn tax is removed from supply (burnt), and tokens from sell tax is sent to the treasury

• ❌ Token/contract ownerships not renounced (at time of review)

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