As you are aware, public testing for EggSwap started last week at https://www.eggs.cool and we couldn’t be happier with the results. Now you’re probably wondering what the future holds for EggSwap and DEFI on Expanse because we admit, a uniswap fork on a network with just a couple tokens, though cool, isn’t super exciting. You know what is exciting though? A uniswap fork coupled with cross chain transactions, staking and the ability to close a sour chapter in Expanse history. That’s why over the coming month we will be rolling out all of the above.
This Quarter’s EggSwap Roadmap
- Yield farming
- Profit Sharing
- Crosschain TX
- Burning LAB/PEX
- Token Creation
- Developer Fund
As a way to incentivise growth and network participation we have adopted the SUSHInomics model and decided yield farming is an exciting feature to have. At launch, ELP holders will be able to stake their ELP tokens to earn EGGs. EGGs are tokens that can be staked to earn a portion of all the SWAP fees from the EggSwap Exchange. Currently, every block will generate 100 EGGs and for the first month there will be a 2x bonus to reward early adoption. Users will harvest EGGs every time they deposit or withdraw staked ELP tokens.
Another feature that is wildly popular in the world of DeFi is profit sharing. Rather than wait for a vote to activate the inevitable, we decided to just go ahead and enable that from the very start. Users will be able to stake their EGG tokens to earn xEGG tokens. xEGG tokens when withdrawn from the Chicken Coop (staking contract) will earn a portion of the fees earned via the Exchange.
Cross Chain TX’s
This is the most integral part of the entire project. We will be incentivizing the creation and management of numerous bridges to as many interoperable networks as possible. Thus, turning expanse into a sort of pressure release valve for the more congested networks like Ethereum.
Burn To Mint
Lets face it, you’re tired of holding LAB and PEX. We are too. That’s why we think it’s best that we finally help the EXP dev team close that chapter in Expanse history. You will be able to burn your LAB and PEX tokens and like a phoenix from the ashes you’ll receive EGG tokens that can participate in profit sharing.
To fill that void left by Tokenlab, we will be adding token creation functionality that will automatically list the newly created tokens on EggSwap for immediate trading. The more tokens, the more your EGG tokens will earn via the profit sharing functionality.
Like SushiSwap we believe its a good idea to have a multisig, publicly governed developer fund. This fund will help promote research, development, growth and prosperity for everyone involved. We want EggSwap to be a community driven open source project and the dev fund is pivotal to that. However, unlike SushiSwap’s 10% guaranteed stake our dev fund will only receive 1%. We believe that is completely fair.
We will be exploring the various governance methods and proposing these to the community to select and implement the best one. In the interim, the launching account will stay dormant until we can make the hand off to the governance contract. From that point forward all decisions will be made by the stakeholders and be completely out of the hands of the developers. We look forward to that day with great hope and pride! The governance model we would like to adopt will be open, inclusive, incentivized but no bottleneck through lack of participation. Elections have consequences.
We look forward to working with the Expanse community to generate a robust toolset that helps the ecosystem grow and benefit everyone for generations to come.