Spartacadabra Lending & Staking Launch

December 5 update – lending pools and staking rewards launch December 6.

December 4 update – they have a Snapshot vote up that runs through December 5 at 1:30pm UTC. They’d originally said they planned on launching at about 12:30pm on Dec 5, but it looks like that won’t be the case given the Snapshot voting not being over at that time. No new date/time announced yet, it could still be on Dec 5 but later in the day. We’ll see!

Fork of Abacadabra by the Spartacus team.

DETAILS

• Three token system: CHARM, sCHARM and LAMBDA
• CHARM details:
  • Total supply: 210,000,000,000
    • 15% to Spartacadabra DAO
    • 15% to the team, unlock begins at 6 month cliff, then linear vesting over 4 years
    • 50% to farming incentive pool
    • 20% to liquidity bootstrap event, any unsold go back to the farming incentive pool
  • At launch, there will be 2 pools with CHARM rewards: Lambda – 2Pool (Dai/USDC) Curve LP on Fantom and CHARM-USDC SLP on Fantom
  • sSPA holders will receive an airdrop of CHARM
• sCHARM details:
  • Stake CHARM to get sCHARM (staking has a 24 hour lockup)
  • sCHARM holders receive:
    • CHARM tokens accumulated in the CHARM fee pool, including interest & borrow fees of the collateral and 10% of liquidation fees
    • Governance voting rights
• LAMBDA details:
  • USD pegged stablecoin backed by interest bearing tokens
• Future use cases of the protocol:
  • Wrap sSPA from Spartacus and receive LAMBDA, which can be swapped to other tokens
  • Wrap yvToken from Yearn and receive LAMBDA
  • Wrap weOHM, wMEMO and receive LAMBDA

Liquidity bootstrap event on December 1.