Blackswan Token $SWAN Bootstrap Staking Details
Cryptocurrency markets are heavily correlated and full of downside tail risk. While there are many tokens competing to achieve the highest positive growth during these periods, virtually none of the projects plan for the opposite, extreme contraction during market cycles.
Blackswan maintains stability not only during market growth cycles but unleashes growth during contractionary market periods with the aim to move as an anti-fragile asset or uncertainty index.
Major strides were made today in anticipation of the staking launch tomorrow. Our community is rapidly expanding and people are starting to take notice of the long term potential of our project. We highly recommend reading over the Blackswan Whitepaper, checking out some of our YouTube videos and taking a look at some of our other Medium articles. Finally if you have any questions, feel free to reach out in our Telegram community.
I would like to remind users that our project is not ultimately a farming project! There is a lot more behind Blackswan than meets the eye, and this is just the first stage in our launch process.
A total of 800,000 $SWAN will be used for staking incentives with the breakdown being 500,000 $SWAN for Blackswan Lake LP staking rewards and 300,000 $SWAN distributed in the USDC pool. The remaining 700,000 $SWAN initially allocated for liquidity incentives will be sent to a time-lock contract scheduled for later in the year to allow for initial rewards in the Blackswan stablecoin. The transaction will be posted when it is complete.
Initial liquidity rewards will be active for 20 days from July 11th. This means that they will continue 10 days after the full Blackswan systems launch July 21st.
As seen by the price action today, the exposure and liquidity that is generated by these tokens will far outweigh any emission rate. The purpose of this staking is to bootstrap the project not only in USDC for the Blackswan Fund, but also exposure.
Staking will be available through 2 options, the Blackswan Lake and Blackswan Distribution pool. As seen above, the Blackswan Lake will provide substantially higher rewards than the distribution pool due to the community value that you are providing.
In order to participate in the Blackswan distribution pool, you must first approve the contract. After doing so, you will be able to deposit USDC. If at any time a transaction is stuck, it may be due to Matic network congestion, you are able to speed up the transaction in MetaMask. Rewards are fixed, and this means that the more USDC users deposit in the distribution pool, the lower the APR.
In order to participate in the Blackswan Lake, you must first acquire USDC/SWAN LP tokens from Quickswap. The supported liquidity pool can be found here.
After receiving the tokens, you are able to deposit them on the right. Finally you will see $SWAN rewards accumulating under the withdraw button, which you can withdraw separately from your LP tokens.
On July 21st, the full Blackswan systems will go live and this means downside protection! The dapp will receive substantial updates on this day in order to provide a more polished look directed at these systems.