Introduction
Avalanche network provides an interoperable environment for DeFi to thrive! However, the chain is missing a key feature; A genuinely community-owned yield farming protocol provides farmers with long-term incentives. When we combine our passions with the Avalanche decentralized network, our users will benefit from newborn services/applications/features capable of ensuring transactions at a fraction of the cost and time it takes on Ethereum. This lowers the average investor’s entry barrier, encouraging a fair marketplace for everyone. Unlike networks such as Binance Smart Chain, Avalanche is truly decentralized, allowing our users to enjoy true decentralized capabilities! Pandaswap intends on leveraging Ava Labs’ highly scalable and diverse solution to revolutionize the DeFi Ecosystem.
🐼👨🌾Pandanomics
Many projects have a large portion of their supply preallocated to their team. This enables devs to dump and encourages unfair governance from the start. We will have no premine, no airdrop, and no presale to motivate a fair launch. Additionally, there will be a brief period before rewards start so that everyone can get in simultaneously.
BAMBOO tokens will be distributed in a sustainable and balanced manner, as described below:
- Rewards start at a 🎉BONUS🎉 of 1000 BAMBOO p/ block, while the normal rewards are 100 BAMBOO p/block. The hard capitalization of 250,000,000 BAMBOO tokens.
- The following 115000 blocks, rewards are diminishing on a linear scale, -10 BAMBOO p/ block every 191k blocks until 20 BAMBOO p/block. From then on, rewards are declined by 7% every 191k blocks.
Since Pandaswap has no premine or pre-allocated funds to the team, to ensure long-term sustainability, constant updates, and development of the protocol, 10% of every block reward will be issued to the Pandaswap team. The team’s tokens will be used for development and token burns.
🖌️Protocol Design
Yield farming compensations
For adventurous Avalanche liquidity providers and yield farmers, Pandaswap offers excellent rewards. Out of the small 0.3% swap compensation, Pandaswap grants roughly 0.25% of every swap directly to liquidity providers while 0.05% is sent to sBAMBOO holders.
Key Acknowledgment
Most yield farming protocols fail to address one fundamental concept when designing their reward pools’ structure. When allocating distribution, you must not give a sizable reward to pools that don’t include your rewards token (BAMBOO in our case). When doing so, you provide a low-risk way for whales to dump on your community regularly. Here at Pandaswap, we took this into consideration when planning for fair distribution and designed the pools to prevent this fundamental issue directly.
The supported pairs BAMBOO rewards are as follow:
- Double Dipping:
sBAMBOO*No Impermanent Loss* - Fastest-growing BAMBOO🏃♂️🏃♂️:
BAMBOO/AVAX (PGL)25%,BAMBOO/AVAX (PLP)75% - Fast-growing BAMBOO🏃♂️:
BAMBOO/ETH,BAMBOO/BTC,BAMBOO/LINK,BAMBOO/SUSHI,BAMBOO/UNI,BAMBOO/AAVE,BAMBOO/PNG,BAMBOO/SNOB,BAMBOO/DAI,BAMBOO/USDT,BAMBOO/YFI - Liquidity Kings👑:
ETH/BTC,AVAX/ETH,AVAX/WBTC,AVAX/SUSHIAVAX/LINK,AVAX/UNI - Fiat Party💸:
AVAX/USDT,AVAX/DAI,WBTC/USDT,WBTC/DAI,ETH/USDT,ETH/DAI - Slow BAMBOO🐢:
DAI/USDT,AVAX,BTC,ETH,LINK*No Impermanent Loss*
One exciting feature PandaSwap will have is staking for Bamboo tokens, and in exchange, you get sBamboo tokens. The sBamboo token earns interest over time as it receives 0.05% of all swap fees on the exchange.
As a bonus, you can then ‘double dip’ your sBamboo tokens to earn even more rewards on top of the rewards gained from staking tokens in the BambooBar. You’ll also be able to stake AVAX, ETH, LINK, and even BTC, with no risk of impermanent loss.
🔐Safety and Audit
We chose to fork Sushiswap’s contracts for our base protocol since they have stood the test of time. This will allow our users to interpret the integrity/security of our protocol easily. Simply compare our deployed contracts with Sushiswap’s repository so anyone with an understanding of solidity will be able to look through the code, compare Sushiswap and Pandaswap side-by-side, and conclude that Pandaswap is safe.
🗳Governance
At Pandaswap, we believe in community-driven DAO; users will submit proposals and vote on them using their BAMBOO tokens.
To ensure a fair token distribution and avoid governance attacks, governance will not be enabled until about a month after launch, quite like how Sushiswap’s governance was enabled.
💭FAQ
What does Pandaswap do?
Pandaswap is an Automated Market Maker and a Yield farming protocol that promises to kickstart Defi on Avalanche by providing users with decentralized opportunities and sustainable rewards.
What are the advantages of using Pandaswap over other protocols?
Pandaswap prioritizes balancing rewards and deflationary incentives to create a balanced experience for our users and build a reputation among the Avalanche community.
What is Bamboo?
BAMBOO is the governance and primary token of the Pandaswap protocol.
Is the project audited?
Pandaswap was forked from Sushiswap, and all changes associated with the smart contracts were minimized (mostly to correcting imports) and highlighted.+
Is there an airdrop?
There will not be an airdrop for the BAMBOO token.
How can I take part?
You can participate by depositing liquidity on our exchange, and you will be able to earn rewards in Bamboo tokens here.
Official Links:
- app.pandaswap.exchange (Swap/Pool) pandaswap.info (Landing Page).
💻 Smart Contracts
The contracts are available at github.com/Pandaswapdex/pandaswap-contracts
💬 Join Us!
- Join the discussion in our Telegram group at t.me/pandaswapex
- Join the conversation in our Discord at discord.gg/ETPeUw9Hs5
- Don’t miss any update by following our Twitter at twitter.com/pandaswapex
- Join the conversation in our Discord at discord.gg/ETPeUw9Hs5
- Don’t miss any update by following our Twitter at twitter.com/pandaswapex
