Sponge Finance family is (soon) growing !

So before begining the teasing, here is what we want to achieve with this new feature :

  • Giving love and regulating SOAK emission (and by giving love to $SOAK this should pump $SPG also ) !
  • Becoming a ‘Community Launchpad Platform’ for BSC projects, with real added value for partner projects (not only farms & visibility like we do now).
  • Adding a ‘true use case’ to Sponge Finance by farming ‘true’ tokens like BTCB, BNB, ETH …!

So first a new token ! ⌛

But how will we get that token ? ⌛

So basically besides the little liquidity that we will provide at launch (that we technically need at launch for the buyback mechanism, but I will talk about that in next section), the token will be minted throught SOAK burning !

Where x is the Steam supply
  • When Steam supply is 20000 (initial supply), then 1SOAK=1 Steam (previously 0.96)
  • When Steam supply is 50000, then 1SOAK=0,4Steam (previously 0.8)
  • When Steam supply is 100000, then 1SOAK=0,2Steam (previously 0.5)
  • When Steam supply is 200000, then 1SOAK=0.1Steam (previously 0.2)
  • When Steam supply is 1M (not sure we get there…), then 1SOAK =0.02Steam (previously 0.01)

What the hell this new token is used for ? ⌛

So basically this token will be our “governance” token.

  • 1% is burnt, so it’s kind of a deflationary token.
  • 0.12% provides autoliquidity on ‘S’/BNB LPs. But know that a farming option to earn SOAK for ‘S’/BNB will also be provided.
  • 0.45% will buy SOAK and burn it forever !! Which should help a lot with SOAK price and supply
  • 0.93% will be converted to BNB that will help to buy the ‘true tokens’ that you will be able to farm using this new token.

So what about those juicy ‘true tokens’ pools ? ⌛

So now you’ll finally understand why this new token is so important !

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