ShadowSwap unveiled a new IFO model featuring the iSHDW initiative, allowing users to commit tokens to participate in upcoming IFOs on its launchpad.
Improving the Core Ecosystem
ShadowSwap Decentralized Exchange (DEX) has announced a new Initial Farm Offering (IFO) model to improve its token’s stability and engage users while launching more projects to its Core ecosystem.
The protocol’s new IFO model will improve the stability of its native $SHDW token and enhance community engagement through the iSHDW initiative. According to the protocol’s tweet on March 18, the new model introduces the $iSHDW solution that works like IFO credits, allowing users to commit their $SHDW holdings in upcoming IFOs.
The iSHDW is not a token but a mechanism determining users’ max SHDW commit limit for IFO public sales on the DEX. For instance, 1000 iSHDW lets users commit 1000 SHDW for IFO. iSHDW can be obtained through staking, allowing the community to engage with the platform. However, the higher the locked duration in staking pools, the greater the iSHDW allocation. The DEX shed more light on the staking to BSC News.
“If lock duration is below the threshold (6 weeks), the users won’t receive full allocation of SHDW Staked. While if the lock period passes the threshold, the user will receive full iSHDW allocation,” ShadowSwap wrote.
To participate in upcoming IFOs, users must stake SHDW above the 6-week lock threshold to receive full iSHDW allocation of stakings. The move will ensure that users participate in staking while also improving the stability of the SHDW token.
As part of the new IFO model, the DEX has also introduced token vesting into its growing ecosystem. The strategy will boost IFO allocation for users and avoid problems with the supply of IFO protocols on the Core chain as tokens are gradually released.
What is ShadowSwap:
ShadowSwap is a DEX built on the Core chain, offering decentralized trading, including an NFT AMM marketplace, plus a lending feature in the works.
The protocol utilizes Core’s blockchain capabilities to create an open and safe marketplace for traders, liquidity providers, and developers.
Where to find ShadowSwap:
What is Core DAO:
Core DAO is the official decentralized organization developing the Satoshi Plus ecosystem. It represents an opportunity for miners to access new revenue streams by contributing hash power to the chain. Inspired by the principles of both blockchains, Core displays a deep appreciation for the crypto ecosystem’s history and an even greater excitement for Core’s role in its future.
Where to find Core DAO:
Source : bsc.news
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