It’s time to give you some hints about Polycorn.Finance tokenomics !
Here is our main token : YCorn token 🌈 !
1. Draining Farms :
So as mentionned in the first Medium article, remember that all our farms except native token ones (so basically YCorn/USDC & YCorn/Matic for now), will drain liquidity from other platforms.
What does ‘draining liquidity’ means here ? It means that the LPs stacked on our farms are also stacked on other platforms, and the rewards from the other platforms are sold and reinvested into Polycorn.Finance.
Example : We will probably have a ETH/USDC Farm at launch using QuickSwap LPs. If you stack on our farm you will earn $YCorn tokens, but your LPs will also be automatically stacked on QuickSwap.exchange, earning $Quick tokens. The token earned with your liquidity will then be sold for buying back some YCorn, or providing USDC to a YCorn pool, or anything else that contribute to Polycorn.Finance.
Important note : First week of draining will be 100% provided to the team for whatever usage we want. Let’s be honest we will probably pay ourselves a bit on it, but we will also keep it as ‘emergency funds’. After this, 90% of draining will be reinjected to Polycorn.Finance & 10% used for team & marketing.
2. YCorn supply & emission reduction
YCorn is unlimitted supply… and I know this isn’t something very popular right now 😶 ! However we truely think that limited supply means being out of interest once max supply is reached…
That’s why we are going for a unlimitted with ‘soft cap’ supply. Every 3 weeks there will be an emission reduction to ensure price can be controlled by buybacks from the draining farms.
We will also have a special first week bonus farming with a very high 1.5 YCorn per block, then falling to 1 per block and being reduced 3 weeks later.
3. YCorn use cases
So first know that our goal will be to keep YCorn price high enough to have attractive APR%.
That means that if we consider that price is low we will use the draining liquidity to buyback & burn.
But, if the price is already high enough to have correct APR% in farms, we will not buyback & burn, but instead we will give YCorn some new use cases.
For example we will convert draining liquidity to USDC, and open a pool to stack YCorn earning USDC.
We also have other special use cases involving gambling & NFTs but this is not planned before at least 2 months after launch.
4. Locked rewards & ‘Rainbow Bank’
To prevent early dump & to incentivize more YCorn holders, we worked on a locked reward system.
Every time you harvest some YCorn, 50% goes directly to your wallet & 50% goes to a locked pool, also known as the ‘Rainbow Bank’.
YCorn from the Rainbow Bank are locked for 30 days since first deposit or last withdraw.
You will earn YCorn with the Rainbow Bank as every other pools. YCorn earned from the Rainbow Bank go 100% to your wallet.
You can also decide to leave Rainbow Bank before the 30 days, but this means you will have to burn a part of you locked YCorns.
Burns begins at 75% on day 1 and will decrease gradually to 0% untill day 30 is reached.
Of course you can also stay more than 30 days in the Rainbow Bank if you want (which will make you earn even more YCorn tokens).
That’s all for now, but here is a little sneak peak of the application 😍. I hope next time you see this, it will be live !
