My DD on $STIX, Chopsticks Protocol - Elastic Farming on BSC. Let me know what you guys think
Bull Case:
1. Stealth launched five days ago.
2. Burned LP.
3. Working product - I have gained about 50LP for the WBNB/STIX pool (about $250 at current price) in four days.
4. Locked/vested Dev cut.
5. Locked/vested tresury cut.
6. Governance token.
7. NFTs and proprietary Swap in the works.
8. Developers have been clear with community outreach and taking action on concerns.
9. Low entry point - trading ay .05 at the moment.
10. Everything is being built from the ground up.
Excerpts from the Whitepaper:
$STIX is an autonomous compounding system integrated into each and every liquidity pool on PancakeSwap.
How? Sake Bombs. Every pool has its own Sake Bomb, and each pool's Sake Bomb can be activated once every 24 hours. This will initialize a mechanism to reward liquidity stakers in that respective pool:
1. New STIX are minted in proportion to the amount of liquidity provided in that pool.
2. Half of these STIX are traded against the pool to receive the opposing token, such that there is enough of each asset for the contract to provide additional liquidity on PancakeSwap.
3. These assets are then redeemed for liquidity tokens on PancakeSwap and the resulting liquidity tokens redistributed to the liquidity providers of the pool on which Sake Bombs are called.
Stakers naturally receive access to these tokens on a pro-rata basis as determined by their equity in each pool. Anybody can call a Sake Bomb and whoever does so will get 5% of the freshly minted liquidity tokens for that 24-hour cycle as an added incentive.
Incentive to stake and hold: withdrawals from a liquidity pool are hit with a 5% penalty.
Tokenomics
Max Supply: 88,888,888
Initial Supply: 7,777,777
Dev Cut: 4,444,444
Initial Liquidity: 2,222,222
Treasury: 1,111,111
Resources:
Telegram:
https://t.me/chopsticksBSCTwitter:
https://twitter.com/chopsticks_bscWebsite:
https://chopsticks.finance/#/Whitepaper:
https://chopsticks.finance/ChopsticksWhitepaper.pdfToken address:
https://bscscan.com/address/0xfa160f26ae82c92ab0c583bc1ae46a25512c9f87Dev lock:
https://chopstickscrypto.medium.com/chopsticks-protocol-dev-timelock-60a69ee53bbGovernance:
https://snapshot.org/#/stix.ethBurned LP:
1. CAKE/STIX:
https://bscscan.com/tx/0x38681de809ff236182a66acb5a8a7c2e8e0ce0ca56980d16aa97b97832c0fc602. SUSHI/STIX:
https://bscscan.com/tx/0xbae1ef17381719c0047c89bcb7f7b6377e7aba33b907bba09ec6b994895a53bf3. BNB/STIX:
https://bscscan.com/tx/0xbdef61b0e52de2ad148356aecaaccfb9c329435983eb63f727f3573e2b9e3e66
