Scarab Finance is an algorithmic seigniorage token linked to Fantom. Our goal is to create more liquidity for the $FTM token. Why is this necessary? Well simply because $FTM has liquidity issues. %60 of $FTM is staked and there are often liquidity issues when $FTM is withdrawn from exchanges or bridged. We are trying to help solve this problem
To put it bluntly, our protocol needs revenue streams to support our peg. Otherwise the model we (and every other tomb-fork) have right now is more of a zero-sum game where the money to support the peg comes from other users. We want to change that and make the protocol sustainable on its own. We have already taken the first steps in this direction. To restore a 1:1 peg to our Scarab token and make this model sustainable, we will expand the revenue stream for Scarab Finance through new solutions. We have already started the revenue generation plan with our yield optimizers. Now for what’s next…
You heard right, we are introducing a gaming metaverse within Scarab Finance! We will be launching a Gamefi UI where you will be able to access all the Scarab Finance’s features through the map and interact with users of our platform. This metaverse extension will include access to multiple Scarab Finance games in addition to the entire application! We will be creating an NFT collection that will allow users to join the Metaverse; stay tuned for more details!
With SpiritSwap’s wrapped inSPIRIT model, we are launching a new model that rewrites the narrative on yield farming and seigniorage; by creating a perfect blend of both! Introducing sinSPIRIT: a model that combines the large amount of volume generated by seigniorage protocols with the inSPIRIT model of revenue sharing. Through sinSPIRIT the protocol receives a large amount of inSPIRIT that is used to accomplish the following tasks: -Generate revenue for the protocol. -Give the treasury the power to buy back $SCARAB when it’s under the peg. -Unlock the APR boosts on SpiritSwap's boosted farms for our yield optimizers, giving more benefits to our users. This model ensures that Scarab’s growth also benefits inspirit holders, who share in the revenue generated by the protocol’s growth in volume.. A perfect win-win situation for both protocols!
-We plan to launch the sinSPIRIT model this week! However, the schedule is still subject to change. In addition to launching the sinSPIRIT model, we plan to initiate the launch of our gamefi products with a small prediction game that we plan on 26th January!
The prediction game will allow users to place bets on the price of $FTM either going up or down and test their market analysis skills for the chance to profit playing our game! (Details will come today) This will be just a small start of our gamefi ventures, and soon we will share more details about our Metaverse plans and all Gamefi products, NFTs, and the tokenomics of everything we plan to release in parallel! Stay tuned for more updates! Cheers, Scarab Team