Sponge Finance (finally!) introduce Vampire Layered Farming !

  • Basically a layer is like a full new dapp, each layer is identified by a number (1 for the first layer, 2 for the second … etc). Each Layer emits the layer token : $Siphon1 for first layer, $Siphon2 for second… Each Layer has specific farms, but $SOAK will always be able to farm $SiphonX (where $SiphonX is the current layer token).
  • We plan to create a new layer every 10 to 20 days.
  • $Siphon1 (and probably other layer tokens) will have a 22K max supply. 2k will be provided as initial liquidity and 20k will be emitted during 40 days. This means only 500 $Siphon1 token a day !
  • Native token LP Farms (like SPG/BNB, STEAM/BNB, SOAK/BNB) have NO deposit fees, however other farms have a base 4% deposit fee. This deposit fee can be reduce to 3% if you are a VIP $SPG holder (100 $SPG) and 1.5% if you are a ELITE $SPG holder (250 $SPG). The fees will help buying back and burn $SiphonX and $SOAK. Some $SPG will also be bought and redistribued through a $SiphonX pool.
  • Once a new layer is out, all deposit fees from the previous layers will be set to 0% !
  • Now the ‘draining’ aka ‘vampire’ part ! When you stack into non-native LP Layer farms (like BNB/BUSD), you will earn $SiphonX, but a strategy contract will also stack your LPs into another ‘safe’ platform farms (for now pancakeswap.finance and blizzard.money that are two platform that have our trust). Earning from these farms will be compunded and locked into these platforms, and the generated earnings by those compunded and locked liquidity will buyback and burn $Siphon & $SOAK but also add some liquidity to $Siphon. This should provide infinite buy pressure and deflationnary mechanism on $Siphon by raising the price and lowering supply.

Here are the fees redistribution :

  • 15% buy back and burn $SOAK
  • 20% buy back $SPG to be distributed through a $Siphon pool
  • 45% buy back and burn $SuphonX
  • 15% liquidity on $SiphonX/$BNB LP (PCS V2)
  • 5% dev wallet (for further liquidity and dev)
  • 20% for liquidity on $SiphonX/$BNB LP
  • 20% auto compounded for more locked LPs (so more & more rewards)
  • 10% buy back and burn $SOAK
  • 40% buy back and burn $SiphonX
  • 10% dev wallet (for further liquidity and dev)

Here are the Layer 1 Farms and multiplier :

  • With the ‘Soak Sink’ you will be able to farm $SiphonX with $SOAK with x20 multiplier
  • $Siphon1/$BNB LP = x15 multiplier
  • $Siphon1/$Busd LP = x15 multiplier
  • $Cake/$BNB LP = x10 multiplier
  • $Alpaca/$Busd LP= x5 multiplier
  • $BNB/$Busd LP = x10 multiplier
  • $xBLZD/$BNB LP = x5 multiplier
  • $xBLZD/$Busd LP = x5 multiplier
  • $SPG/$BNB LP (PCS v1) = x3 multiplier
  • $SPG/$BNB LP (PCS v2) = x2 multiplier
  • $SOAK/$BNB LP v1 = x5 multiplier
  • $STEAM/$BNB LP v1 = x5 multiplier

Initial liquidity :

SO WEN !?

What about LP migration ?

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