SoliSnek DEX & Liquidity Launch

April 12 update – Epoch 0 launches at 10am UTC, April 13.

Token launch for a vote-escrowed (-ve) mechanics DEX (Solidly fork) on Avalanche.

DETAILS

• Launch Details
  • Token will be listed on SoliSnek DEX
  • Token pair: SNEK/WAVAX
  • Listing price: 1 SNEK = 0.001 AVAX
  • LGE presale price: 1 SNEK = 0.002 AVAX
    • 20,000 AVAX hard cap filled in presale held on SoliSnek
    • Vesting: 100% at launch
  • Initial circulating market cap: unknown
  • Initial liquidity: unknown
  • DEX and $SNEK emissions is scheduled to begin at launch

• Tokenomics
  • Token symbol: SNEK
  • Initial supply: 210,000,000
    • 4% — LGE + initial liquidity
    • 12% — Team (30% $SNEK, 70% veSNEK – 15% of $SNEK allocation claimable from epoch 1, then rest linearly vested for 9 months)
    • 9% — Ecosystem Incentives (100% $veSNEK)
    • 9% — Partner allocations (100% $veSNEK)
    • 60% — Emissions
    • 6% — Reserve

• Mechanics & Features
  • Up to 0.05% swap fee on stable pools, up to 5% on variable pools
  • Liquidity providers receive $SNEK emission rewards
  • $SNEK can be locked to receive $veSNEK (locked as veNFTs)
  • $veSNEK is the governance and vote-escrowed version of $SNEK
  • $veSNEK holders/voters receive 100% of trading fees, bribes, rebases, and governance power
  • $veSNEK holders can vote weekly to decide which LP gauges receive $SNEK emissions
  • Users can lock their $SNEK tokens for up to 52 weeks – voting power diminishes by 1.92% every week
  • $veSNEK holders receive trading fees and bribes for the LP gauges they vote for – the pools with higher votes receive more $SNEK emissions
  • $SNEK will be uncapped but with decaying emission rate of 1% per epoch up to epoch 92, after which emission rate will be 1,000,000 per epoch