As you now, we have been working hard since the beginning to offer our community the best possible experience when it comes to Yield Farming. We are the first to have implemented the Referral system, the Pool Stake function (which sends your pending harvest directly to the main farming pool), Deposit Information and Statistics under Farms and Pools, and we have innovated the Harvest All In one Transaction feature to save some time and fees.
Our community has been following and supporting us all the time, always suggesting good features and which direction we should go.
We have been kept into place by the delay of the Audit and releasing Slime Finance during Bloody March, and we have been taking feedback from you and started working on a long term plan to ensure our Slime token a durable and sustainable life.
Rimuro the Slime Chef has been building SlimeV2. Many have been asking what SlimeV2 will consist of and how the process will be so here’s a breakdown of what it will entail.
SlimeV2 was inspired by the realisations Rimuro and the team had regarding potential tokenomics improvement and increasing the longevity of the project by providing it with the right adjustments to optimise value maintenance which is an important aspect of currencies with emissions.
SlimeV2 is coming with a new unique contract written by Rimuro which includes the Conditional Deflationary system. The DeflationController contract will show how much will be burned for each transaction.
Normal deflationary tokens just burn on each action you do. Our model consists of burning on negative actions while burning less or none for positive actions to our ecosystem.
SlimeV2 will consist of a redenomination which means users will be able to swap with either 1:0.1 or 1:0.12 ratio depending on the time and how quickly they would swap from V1 to V2. This effectively reduces the supply of SLMEv1 and keep the SLMEv2 supply more limited than it would have been with a complete swap. The swap migration will be open for a week, in which you can swap for a 20% bonus on your swap, meaning if a user would swap 1000 SLME they would ultimately get 120 SLMEv2 of which 75% is vested for 31 days. The vesting would be installed to mitigate the sell pressure as well as to ensure value preservation. There is benefit in swapping with the bonus, just keep the vesting in mind.
What does V2 ask of the user?
As V2 approaches we will have a facilitated swap page where you can swap your SLME in the contract for SLMEv2 of which 25% arrives in your wallet and 75% is vested. Regarding liquidity providers, you will be able to farm SLMEv2 with some of the SLMEv1 LPs.
How will V2 address the issues in V1 and what will happen to V1 with V2 release?
Slime V1 will continue coexisting with Slime V2 and it will most certainly could see a positive ressurection. We will continue updating V1 along with V2 but the PancakeSwap AMM Farms will have to go away in the near future for a full transition to our own SlimeSwap AMM.
Steps we’re taking to improve general execution:
- Onboarding more developers: Solidity devs oriented towards NFTs & Gaming
- Strong marketing structure with monthly events and improved community interaction
- Various tools implemented along the way to improve quality of life but also innovate in the Yield Farming sector.
Slime V2 will be released on Saturday 10 April 2021.
May we have a less bumpy and more prosperous road ahead for what is to come!