Project Objectives
The lack of hard numbers is intentional as the project's needs can change very quickly. We also need to observe the demand for our perpetual bonds. We also avoid particular timelines if possible to deter frontrunners. The subject of OpenX buybacks are a good illustration. Rapid price appreciation is fine provided our emissions are offset by > 100% without damaging liquidity.
We are however still inflating OpenX for five years. Every appreciation event of our token that is not met with a corresponding deepening of liquidity puts our liquidity providers at risk of our protocol minting tokens the market is not liquid enough to absorb. Therefore we intend to simultaneously ramp up protocol owned liquidity via these strategies while establishing further revenue streams.
-A % of VELO bonded will be held in the partial reserve to ensure parity.
-A % will be used to create POL and farm VELO as a project.
-A % of bribe returns will be reserved for future OpenXSwap user incentives.
The remaining revenue will be used for discretionary actions including but not limited to:
-A case by case extra allocation to any of the above objectives mentioned above.
-Market buys of VELO dips that will then be converted to opxveVELO collateral.
-Bootstrapping future projects for the protocol once target APRs are established.
-Incentivizing worthy projects already intending to leave Harmony to join us on Optimism.
-Accumulating and pairing needed liquidity for the exchange to suit our DEX composition.
-Incentivizing new partnerships that result in expediting completion of stated goals.
Last modified 2mo ago