MilkySwap Tokenomics & $CREAMY
Learn more about our tokenomics and how to boost farming rewards with $CREAMY.
Since our announcement with Milkomeda, we’ve been absolutely amazed by the immense support from the community. We are thankful to our community & moderators who have been extremely valuable and amazed by the support of content creators who’ve been with us since the start.
Reflecting our belief in a community-centric DEX, we want to ensure that a majority portion of our token supply goes to our community.
We wholeheartedly believe that a decentralized exchange should serve and be managed by the people that are using it. This community-centric approach towards our DEX will ensure long-term sustainability for MilkySwap.
Quick Facts:
- Total Supply: 80,000,000 $MILKY.
- Airdropping 1mn of $MILKY in the first week of the launch.
- 60% of the supply will be community owned.
- $MILKY our native token, can be earned by staking into one of our farms.
- $CREAMY enables boosted farming to get more $MILKY from your farm.
Token Allocation
Farming
50% of our supply will be allocated for farming on MilkySwap. As a community-led DEX, we wanted to ensure that farming has a significant portion of the allocation.
DAO
4.5% will be allocated towards our DAO. After all, it will be the DAO that will be steering the ship for MilkySwap.
Investors
We have allocated 20% for our investors. These tokens will be subject to a 6-month lock and 18-month linear vest schedule.
Team & Strategic Partners
We have set aside 20% for our team members. These tokens are also locked for 6-months, and then vested linearly over 18 months.
Airdrops
As you have seen with our recent airdrops, we have been open to rewarding our early community members. We have 5.5% set aside to allow for airdrop events.
If you missed out on our previous airdrops, don’t worry! There should be another, much larger airdrop to come! ;)
$CREAMY ( FUTURE FEATURE)
If you have played around with our farming protocol these past few weeks, you may have noticed that churning your $MILKY tokens gives you $CREAMY. We took a page from CurveDAO’s extremely successful veCRV locking system and created a governance token called $CREAMY. As a governance token, $CREAMY will be important to the sustainability of our DEX. Though its features won’t be available day one, there will be plenty that you can expect as MilkySwap develops and matures.
These features will include voting on which farms to add, how the treasury is managed, and the weights of boosted farms. $CREAMY will also let you receive .05% of the protocol fees on MilkySwap
Obtaining $CREAMY
By churning your $MILKY tokens, you will receive $CREAMY tokens in return. The amount of $CREAMY tokens you receive is equal to the amount of $MILKY you churn for 4 years.
Example: Daisy is interested in obtaining $CREAMY tokens. She buys 100 $MILKY on MilkySwap and then churns them for 4 years for 100 $CREAMY.
Millie decides to buy 50 $MILKY tokens on MilkySwap, but only locks them for 2 years. She gets 25 $CREAMY
For an in-depth guide on churning $MILKY into $CREAMY, visit our tutorial on our Gitbook.
Boosted Farm Weights
MilkySwap will incorporate boosted rewards into its farming mechanism. To those unfamiliar with boosted rewards, it allows users to receive multipliers that are proportional to their share in a farm. If your deposit in a particular farm is small relative to the amount of total deposits, it will be easier to get the maximum boost.
Example: Bessie deposits $1000 into a pool that has total deposits of $100,000. Because her share is relatively small in relation to the total deposits in that farm, she will need less $CREAMY to obtain these max boosts.
On MilkySwap, boosted farming will give a multiplier on emissions to $CREAMY holders. This allows users to farm more $MILKY with the same amount of liquidity. We will be using our boosted rewards system to distribute a portion of minted $MILKY to $CREAMY holders. As such, users will be able to vote on the weights of the boosted farms.
Stay tuned for more MilkySwap updates
We have a lot of updates in store for you. Be sure to follow us on our Twitter and Medium so you don’t miss any of our announcements. You are also welcome to join us on our discord and telegram if you’d like to chat, ask questions, and provide more suggestions. Though we are launching, we are always looking to continuously improve and make our DEX work for you.
